“Alone we can do so little, together we can do so much.”Helen Keller

Helen Keller wrote these words in 1888 and they are still true today: Everything is effortless when you have help. That even includes marketing your brand and business.

When you are a growing business, it can be difficult to invest extra time and resources — into your marketing efforts. However, in case you don’t, your business will become static and dead. It’s a vicious loop you literally cannot afford to be in! Well, partnership marketing is one way to overcome all the marketing limitations you face!

Two partners shaking handsAccording to a Growth Report by Hinge, partnership marketing is ranked as the 7th most effective marketing technique for most businesses.

A partnership marketing plan includes crafting a marketing strategy between partners for the benefit of everyone involved. It helps in driving more sales for your business!

And, to help you become successful at partnership marketing, we have built an awesome partnership marketing plan template that will help you boost your marketing game!

But before we dive into the template, let us first briefly discuss what a partnership marketing plan is, why it is important, and what elements do we mention in for such documents.

Let’s dig in!

 

What is a Partnership Marketing Plan?

Partnership marketing plans are a smart way to put all ideas, strategies, goals, and tasks around a partnership in one coordinated place. It helps to ensure that all the partners are on the same page.

However, you cannot simply become a partner with anyone. There are certain things that should be considered before creating a new partnership marketing plan with another business or company like:

  • Confirm that you and your partners are not competitors.
  • Ensure that you and your partner are targeting the same audience.

Read more: How to Create a Content Calendar

 

Why Partnership Marketing plans are Important?

Partnership marketing plans are an important way to ensure mutual success for your partners and your company. When everything lives in one living document it becomes easy to coordinate and ensure a successful joint marketing effort.

Partners working on a projectOften times messages get lost in email, message chains, and file folders. With a partnership marketing plan document everything can be in one location and keeps everyone on the same page. Strategic partnership marketing plans also help create the highest value possible for both- business and brand in every partnership.

 

Types of Partnership Marketing activities

The main idea of a marketing partnership can be anything, from conducting a powerful piece of research with another company to asking a partner for a specific backlink on their website.

It all depends on the brands involved and their current strategic partnership goals. Hence, to formulate these ideas- we create a partnership marketing plan!

Partnership marketing plans are created to club all the tasks, ideas, strategies, and goals of the following activities in one place:

  1. Shared stores
  2. Affiliation
  3. Sponsorship
  4. Distribution
  5. Charity
  6. Joint products
  7. Loyalty
  8. Product placement
  9. Licensing
  10. Content

 

What You Should Include in a Partnership Marketing Plan

Title: heading or title of the document

Prepared by: name of the person who created the document

Date: publishing date of the document

Summary: Joint Value Proposition

Idea/Proposal:

Target Market

  • Market Opportunity/Trends
  • Ideal Customer Profile

Sales Strategy: defining the sales strategy for more growth

Investment & ROI: the amount that has been invested and the ROI generated in the partnership

Read more: How To Create An Investor Update Document

 

Create a well-defined Partnership marketing plan the Right Way with Bit

All set to create a clear partnership marketing plan to drive growth for your business? Well, we have got the perfect tool for you!

Bit.ai is a new age online document collaboration tool that helps anyone create an awesome partnership marketing plan, marketing launchpad, marketing strategy, and other company documents in minutes. Bit is the dream tool for both your and your partner as it helps revolutionize the planning process and makes it more smooth, and interactive.

Bit.ai: Document collaboration tool

Bit has an amazing UI that’s easy to understand by a new user, making onboarding easier. The user experience is phenomenal too as everything is easily organized in workspaces, folders, and content libraries.

No matter if you want to create a partnership plan or a transition plan for your business, Bit’s amazing organizational capabilities help arrange your information easily.

Bit features infographic

Still not sure how Bit can help you create an effective partnership marketing plan? Let’s see some more of Bit’s awesome capabilities! :

Collaborate in real-time– Multiple people can simultaneously collaborate on a Bit smart document in real-time. Suggest edits, work collectively and ask questions with real-time mentions, and comments.

Collaborate on documents in real timeMinimalistic Editor – Bit’s editor allows you to focus on writing and the work you’re implementing, without any distractions. The platform interface is easy to understand, making it easy for new visitors to get onboard quickly.

Distraction-free and quick documentation- The best part is Bit’s support for Markdown which allows developers to quickly create and format text without any distractions. Once you are done creating your document, you can easily export it as PDFs, Word files, Markdown, and much more. Markdown is supported by GitHub and other software development tools, making it easy to share the work you do inside of Bit with other platforms.

Automated table of contents – Bit also has an automated table of contents based on the headers you add to your document. This makes sure you can scroll to different sections of your document quickly as a partner, viewing the final published document!

Multiple ways to share- Bit documents can be shared in a live state meaning that all changes that you make to the document will update in real-time. Moreover, features like document tracking, password protection, file access restrictions, etc. help keep your documents safe.

Share your documents in multiple waysHere are some of the man benefits of using Bit:

  1. Smart search, which allows anyone to search and find any files, images, documents, etc. quickly.
  2. Interlink partnership marketing plan documents
  3. Create fully responsive documents
  4. Create partnership marketing plan documents only visible to yourself or your team
  5. Track engagement on a shared partnership marketing plan with clients, partners, etc.
  6. 100+ rich media integrations.

Now, that you have learned everything about a partnership marketing plan and how to create a document on it, feel free to check out Bit’s amazing partnership marketing plan template for a successful business!

 

Partnership Marketing Plan Template by Bit

To make the process of crafting a Partnership Marketing Plan easier and fun, we have created a ready-made template for you! Check it out below: 

How to use a Partnership Marketing Plan Template with Bit

The process of creating a partnership marketing plan on Bit is insanely easy! Just follow these four simple steps to create a thesis report document quickly:

Step 1: Create a Bit Account

Go the home page of Bit.ai and click on Get Started for Free or Sign Up to get started. Enter your email address to sign up. Once in, you can create your personal profile.

Preview of creating bit account

Step 2: Create a Workspace

Workspaces are where the work gets done. Click on the ‘Create Workspace’ button on the right. A popup will show up prompting you to add a name for your new workspace. 

Preview of creating a workspace

You can create a workspace around a team, department, large project, client, partner, etc. Inside each workspace, you can create an unlimited amount of Bit documents and access your content library (storage area for all of your digital assets – web links, files, cloud files, rich embeds, etc.).

Step 3: Add Team Members

Bit allows your team members to collaborate in real-time and get work done. Collaboration starts at the workspace level.

Preview of adding team members

You create private workspaces by default. However, you can invite others to join you inside of a workspace and collaborate together with the knowledge, projects, documents, and content inside of the workspace.

Step 4: Create Your Desired Document

Once you are in the workspace, click on the ‘Create New’ button. Select ‘From Template’ in the dropdown. A pop up will display allowing you to select a template from the gallery.

Preview of creating a document

In the search box on the top left corner, you can search for a “partnership marketing template”. Once your desired template pops up, click on it and click on the “Use Template” button on the bottom right corner.

That’s it! Your partnership marketing plan document is ready for use!

🎥Watch this video to learn more👇

Wrapping it up

The only issue about partnership marketing is finding the best partner. Find one that matches up to your business in quality and an eagerness to commit as immensely to the partnership’s success to see real benefits.

Done right, partnership marketing plans can drive your brand’s growth and exposure to new levels! If you need any help with the template or want to know how Bit can help your team, let us know by tweeting us @bit_docs. Cheers!

Further reads:

How to create partnership marketing plan - Pinterest