Eight Steps to Creating Marketing Partnerships
By Stacy Shaw President & Founder, m-k-t-g | August 09, 2010
At m-k-t-g, we employ an eight-step approach to the development of strategic partnerships and marketing alliances to ensure that all parties involved receive a ROI that is favorable to both their brand image and bottom line.
Step One: Situation Assessment
The situation assessment requires you to dig below the brand surface to determine what you have to offer, review your operational resources and analyze your partnership history.
The first question you have to ask yourself at the beginning of your situation assessment is what makes your brand or individual property a preferred partner. Or more simply stated, why should someone partner with your hotel or brand? In this step you have to be candid about your organization's mission, your core attributes, unique selling points, distribution, demographics and planned growth.
As with any business decision, your marketing partnerships should reflect and support your brand or individual property's mission and objectives. Embarking on a partnership that contradicts your organization's mission will confuse both your internal and external stakeholders, and creates the possibility of damaging your image as well as your bottom line.
Next you need to examine and be able to communicate clearly and concisely the core attributes and unique selling points of your brand or individual property. Instead of taking a broad-stroke approach, you need to be as specific as possible in your description. For instance, a spa company may describe the facility as a 20,000-square-foot, full-service spa with 18 treatment rooms. However, a more descriptive assessment will differentiate from the competition: "Our Relax Spa offers the only XYZ treatment room in Miami and is known for providing the age-defying mud rub that CNN has dubbed "miracle dirt."