Partner marketing (also known as partnership marketing) is a strategic collaboration between parties, whether it is two businesses or a business and an individual, for example, an opinion leader or an influencer.
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Affiliate marketing is a partnership where a business rewards its partners, also known as affiliates, for promoting and selling the company’s products. This is a pay-per-performance type of partnership
Loyalty partnership is one of the more straightforward and transparent partnership types. Here, the brand partners with its customers directly, providing incentives and benefits for frequent or large purchases.
Distribution partnership is used when one brand wants to utilize another brand’s extensive distribution network in exchange for a fee. Usually, those products are aimed at the same target audience.
Sponsorships are one of the oldest partnership types in the history of marketing. And so, there is a vast diversity of sponsorship types. However, one underlying common aspect among all of them is that a sponsor publicly supports the brand.
By definition, influencers have the power to influence someone’s purchase decision. They don’t have to belong to a certain profession, nor do they need a large following. But they do have to own their audience’s support, trust, and respect.
Referral marketing is closely related to affiliate partnerships but doesn’t require so much commitment. It usually exists in the form of word-of-mouth referrals to friends, family, or colleagues.