A brand partnership strategy is an action plan designed to foster relationships between two or more brands in order to create mutual business benefit. This strategy is often used for marketing or promotional purposes, such as joint promotions or leveraging each other’s reputations to strengthen brand visibility. Creating a brand partnership strategy can help brands identify, evaluate, and negotiate potential partnerships in a timely and efficient manner.
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
The Brand Partnership Strategy template is designed to help marketing teams of all sizes and industries create a strategic plan to form partnerships with other brands. Whether you’re a small business looking to increase your reach or a large corporation looking to strengthen your reputation, this template provides a comprehensive framework to help you achieve your goals.
A brand partnership strategy should begin by defining the focus area of the initiative. These focus areas are broad categories that will help you to organize the objectives and actions of your plan. Examples of focus areas may include Developing Brand Partnerships, Evaluating Partnership Opportunities, and Implementing Brand Partnerships.
For each focus area, you should establish objectives that are specific, measurable, attainable, relevant, and timely. Your objectives should define what you hope to accomplish with each focus area and could include increasing brand visibility, strengthening brand reputation, or identifying relevant partner brands.
To ensure that your objectives are being met, you should set measurable targets, or KPIs (Key Performance Indicators). These targets should be quantifiable and should include an initial measure, a target measure, and a unit. For example, if the objective is to increase brand visibility, the KPI might be to increase reach of joint promotions, with an initial measure of 0 people, a target measure of 1000 people, and the unit being ‘people’.
To achieve the KPIs, you should implement related projects, or actions. These actions should be specific and measurable and should be designed to help you reach your objectives. For example, if the KPI is to increase reach of joint promotions, the action might be to develop joint promotions with partner brands.
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