A new wave of marketing seems to be emerging. Collaboration, synergy, sponsorship, integration, partnership, engagement and branded content are terms heard on a daily basis. You could even argue that the UK government is joining this shift in marketing by uniting two different parties to reach one goal – although that might be stretching things a bit!
It seems obvious that this shift has come about because of the recession – brands and marketing teams are now forced to find new ways of obtaining the same results with half the budget and half the resource. Partnerships have proven to be the perfect solution. By partnering, brands are able to achieve more than they could have achieved alone.
The most interesting thing about this shift is its longevity — this new collaborative way of working looks set to continue well after we are in recovery. As a result, we are seeing a more engaged audience, more innovative marketing campaigns and strategic partnerships across all sectors and channels.
In particular, partnership through sponsorship is becoming increasingly popular. Professional associations, product launches, independent films and band tours are now realising how beneficial these types of sponsorships are. Sponsorship funding is a multi-billion pound industry in the UK and everyone wants to get a piece of that pie.
Done well, these partnerships add value to all parties involved. The rights owner receives additional sponsorship funding, the sponsor receives a receptive targeted audience and the audience receives added value through more engagement with the event. It’s a win-win-win situation and I anticipate that sponsorship and collaboration in all its forms will continue to thrive well into the future.
Jackie Fast is an expert contributor to Marketing Donut.