Thursday, March 21, 2013

Partnership Marketing



Blink:
Partnership marketing is smart marketing.  Peapod, America’s leading internet grocer and PNC Bank are smart marketers.

Read On:
Smart marketers understand that convenience has become a driving factor when we select products and services due to our 24/7 lifestyle.  Consequently, they are always looking to enhance the value proposition of their brand.  A smart way is to partner with another company that shares similar customers to augment the buying process.  By doing so, strategically both companies complement each other thus provide their customers with a new experience.  The end game?  Both companies further differentiate themselves from their competitors, plus it enables them to open the door for market expansion. 

Peapod was founded back in 1989 in the Midwest by the Parkinson brothers.  The company is now a wholly owned subsidiary of Royal Ahold, a global food company that owns Ahold USA – they work in partnership with their supermarket companies Stop & Shop, Giant Food Stores (Giant-Carlisle) and Giant Food (Giant-Landover).  Currently they are in 24 U.S. markets and process/deliver an estimated 23 million orders.

Fact: Online banking is convenient.  Yesterday I logged into my PNC account to double check my balance.  Up popped an offer from Peapod by Giant Food Stores; earn 15% cash back on any order up to $100 during a limit time period, payment must be made prior to offer expiration.  Smart marketing!  Candidly, I am not going to utilize the offer since I enjoy shopping daily, but as a result of the pop up, I learned about the new PNC Purchase Payback Program that also includes rewards or cash back for dining at local Fridays or Nick’s Roast Beef Bar & Grille or shopping at Redbox.  Each of the Retail participants potentially gets to some new customers thanks to their partnership with PNC; PNC further differentiates themselves from other local banks, building customer loyalty or thanks to word of mouth (a.k.a. social media) acquires new customers.

Is there a smart partner in your future?


2 comments:

  1. Absolutely. Companies are realizing that they have newly discovered asset that can create value. They are, in essence, a "platform" for other partners to create value, and in the process, augment their own value as in this case.

    Platforms Rule. Partner Platforms Dominate!

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  2. Is the Peapod ad an example of partnership marketing, or customized ad placement? In my opinion, the definition of 'partnership" has evolved over time. Technology now allows instantaneous message customization which implies a partnership, without anything other than an ad. As you have often said, the old structures and assumptions have been disrupted, and a new approach is available. THX for posting, Jim. Its a thought-starter.

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