Collaborating with other brands is one way to attract customers. This can be an important part of a client strategy. Half of the companies that have implemented affiliate programs claim that profits have increased thanks to the collaboration1. About 20 percent of these companies' revenue comes from partner channels. In the same study, 45 percent of companies noted that their brand awareness increased.

The following are the types of partnerships in the surveyed companies:

• 45% Strategic partnerships
• 41% Traditional affiliates
• 38% Media houses
• 38% Influencers
• 38% Retailers, Resellers, VARs
• 35% Dealers, Agents
• 35% Service providers, MSPs, Integrator
• 32% Nontraditional affiliates, Ambassadors

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Your company can use on associations with a well-known brand in the market. Partnering does not have to happen on the same plane. This means that partner brands do not have to be from the same industry. For instance, the collaboration between Vance and Nasa or Coca-Cola and Converse are prime examples of such a strategy.

Invest in Partnerships to Drive Growth and Competitive Advantage, Forrester, 2019

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