There are traits you want in any prospective partner; trustworthy, loyal, helpful, friendly, courteous, kind, obedient, cheerful, thrifty, brave, clean …
But what traits are essential to a successful co-marketing partner?
On the merchant side ( the partner with the product or service to be promoted) you need to look for a great product that the promoting partner’s customers want. The product should be in hot demand. Avoid products that have already saturated the market. (Unless the merchant can create an amazing deal). The merchant must have a strong balance sheet, excellent customer service, a solid money-back guarantee and transparency.
You need to be able to trust that the offer-side of the equation will treat the promoter’s customers with great care, the product will meet or exceed expectations and will pay the promoter as promised.
The promoter side of the co-marketing deal needs to be carefully picked too. Many affiliate managers find that blindly accepting all affiliates leaves them exposed to potential problems. A rogue affiliate may make unsubstantiated sales claims and promises that the merchant can’t make good on. You don’t want to sully your brand by associating with spammers or hard-sell marketers.
We use the term “partner” in co-marketing but it shouldn’t be confused with a legal partnership entity. Most co-marketing deals involve short-term, creative promotional efforts and do not create new business entities. Joint-venture are companies that are set up by two or more corporations to accomplish longer term strategic objectives.