Affinity marketing is when two (or more) businesses combine their marketing efforts in order to reach a mutually desirable target audience. For example, professional sports teams selling naming rights or display advertising are both affinity marketing.
Essentially, there are three things that businesses like about affinity marketing, that they can’t necessarily get from other approaches:
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It allows them to benefit from another business’s brand.
Here’s an example of this advantage: as far as the average consumer is concerned, financial services firms really haven’t been on the “warm and fuzzy” list since about 2008. But when a firm like JP Morgan Chase offers online shoppers a chance to apply for an Amazon.com Visa rewards card, the former brand is elevated by the latter.
This is also called the “halo effect”, and while it’s not a magic wand, it can make a big difference in terms of consumer perception. It’s the same logic behind celebrity endorsements – e.g. people like a celebrity and ascribe certain positive qualities to him or her, a business features that celebrity in its marketing, and some of those positive qualities shift over to the business.
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It allows businesses to reach into non-traditional markets.
One of the toughest things for any business to do – whether it’s a small start-up or a gigantic enterprise – is to go beyond its traditional market. Affinity marketing can overcome this obstacle by positioning a brand in front of people who might otherwise be cost prohibitive to reach.
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It can be measurably cost effective.
Generally speaking, affinity marketing is a more cost effective approach than many other kinds of marketing. Yes, a business has to share the spotlight and stage – which is a drawback. But the trade-off can be well worth it, since there are economies of scope and scale. For example, instead of spending $5,000 a month on conventional display advertising, a tour operator could use affinity marketing to team up with a hotel or travel agent, and promote their service at a far lower cost.
Tips for Successful Affinity Marketing
As with everything on the online and offline marketing landscape, there are do’s and don’ts when it comes to affinity marketing. Here are some tips to point you in the right direction:
- Carefully choose the right affinity marketing partners. Research how, when and to whom they’ll promote your brand and business.
- Don’t treat all affinity marketing partners as equals. Some are more valuable than others. Monitor all campaigns, pour resources into what’s working, and pull resources from what isn’t.
- Create specific, quality content to leverage the affinity marketing relationship. Remember: your partner is catering to a different audience than you traditionally do (which is why they’re a partner and not a competitor!).
- Create new offerings that are exclusive to the affinity marketing channel.
- Consider working with a non-profit, which is a nice win-win arrangement. As noted by Wisegeek: “The corporation gets the benefit of being associated with a worthy cause, while the non-profit gets the powerful marketing reach afforded by their corporate partner.”
Learn More
To learn more about affinity marketing and determine whether it makes sense for your marketing game plan – and if so, how to make it effective and profitable – contact the Leap Clixx team today. Your consultation is free!
Once you have leads pouring in from your affinity marketing, or otherwise, is your website built to help collect and generate those leads? Be sure to download our eBook "Turn Your Website into a Lead Generation Machine" for FREE now:
Topics: Lead Generation
