The hotel industry is characterized by cutthroat competition, meaning businesses are always engaging in ways to attract and retain customers. While hotels use a variety of strategies to do this, one of the least considered options is the concept of partnership marketing. The way it works is that two or more businesses with a mutual interest can collaborate to achieve their desired objectives. This marketing strategy is especially lucrative in the hotel sector since you can provide the primary services, and seek to partner with another business that compliments it, thus improving the value of the services your hotel offers.
By partnership marketing, hotels can gain new customers, boost business, add value to their services, and reach new market segments. Another advantage of using this marketing model is that it is efficient and cost-effective. However, it also has its drawbacks, with partnership disputes being common. To avoid partnership disputes you have to make sure you do it right in the beginning. They usually happen when one party engages in initiatives or campaigns the other party deems negative or detrimental for the business partnership.
Partnership marketing allows hotel businesses a quick, low cost, and simple way to align their brands with other businesses. It is now common to find hotels partnering with fitness brands, tour and travel companies, tourist boards, credit card companies, social networking sites, and internet providers among others. Here are some success stories;
Hilton London Bankside partnership with Bompas & Parr
Since Hilton London Bankside is a vegan hotel suite, their partnership with Bompas & Parr ensures their rooms are made with vegan-friendly materials.
Marriot UK partnership with Starbucks
This partnership allows guests at the hotel to enjoy Starbucks coffee when conducting meetings.
Gleneagles Johnnie Walker Partnership
The partnership allows Johnnie Walker to sponsor the prestigious Johnnie Walker Championship.
Hyatt Centric hotels partnership with Spotify and Sofar Sounds
This partnership aims at attracting music lovers and giving them a chance to experience live concerts and listen to music
The May Fair Hotel partnership with London Fashion Week
This partnership aims at promoting the hotel as the official hotel during one of the world-famous fashion shows.
Tips for the Best Partnership Marketing
When looking for a business partnership opportunity, it is advisable to be clear on the goals you want to achieve. You will want a model in which you build relationships with your consumers as well as build your brand.
The next step is to identify a partner that shares the same values as your business. It is also advisable to be clear on what the partnership aims at achieving. This will avoid potentials issues such as a commercial dispute when finances are involved.
It is also important to be open and sincere with your business partner. It is important to understand that this marketing concept is a mutual partnership between brands that want to successfully achieve certain goals. To avoid problems or misunderstandings, it is advisable, to be honest about what you can realistically offer, and not make promises you cannot deliver just to get a deal.
When seeking a business partnership, it is important to be creative and unique. With the numerous hotels competing for customers, offering unique services will ensure customers feel they are getting exclusive services. This will make your services unique and attractive, thus attracting lucrative partnerships.
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Emily is a freelance writer, working closely with many aspiring thinkers and entrepreneurs from various companies. She loves encouraging small business owners and digital marketing through her articles!
About Are Morch
Hi, I am Are Morch. Your Digital Marketing Coach and Customer Experience Expert that specializes in creating effective digital customer experience offer for hotels while growing and scale customer acquisition and revenue.