One of the things we do here at MarketingProfs is create and manage partnerships. Like everybody else in business, we do this because we have our own interests in mind and feel that partnerhips can help us. You probably do this as well, perhaps through affiliate programs or cross-linking on the web, and through more complicated agreements off the web.
Regardless of the type, we all try to be good partners. At least, that's what people tend to say. But how do you become a good partner?
Well, we've learned some things about partnering that you might find useful. We'll tell you a bit about our experiences with one type of partnership called a co-reg agreement (call this a small case study). But the lessons are useful for all types of partnerships.
Co-reg agreements are a great way to build subscribers to online newsletters. We've found it to be a better way to interest people in our site than advertising, putting articles on other people's sites and even online advertising services like Moreover and paid search engines like Sprinks.
Of course, to do a co-reg agreement you need to first be a good co-reg partner. In our case, we strive to provide newsletter subscribers to our co-reg partners, and so far we've been able to get about 57% or more of our subscribers to subscribe to the newsletters of our partners. 57% is actually quite a high number but in some cases this number can be much higher.
To be a good co-reg partner (and also to be able to see whether or not your partners are being good to you), you need to do at least 3 things which are common for really any partnership. This includes:
- A good selection of partners
- A very good way to encourage your customers to interact with your partners
- A good reporting system, so you know what's going on
Choosing the right partner is the most obvious, but often difficult decision in all partnerships. With co-reg agreements you want to partner with sites that draw traffic in your target segment. Most co-reg agreements require you to "upsale" the partner sites on your "Thank You" page when people subscribe to some service, or in our case, our newsletter. It doesn't matter whether the site draws a lot of traffic or not, but what does matter is whether or not a lot of people see the Thank You page, otherwise they won't see your offer.