IN TODAY’S HYPER-CONNECTED world, partnerships are the key to growth for many pet businesses. A study by Forrester Research found that companies with mature partnerships grow their revenue twice as fast as those without, and they see a significant boost in brand awareness.
Partnering within the pet industry has obvious synergy. However, looking outside proves more rewarding because it creates opportunities where neither business normally resides, but where their shared customers do.
Let’s explore five such potential partners:
1. Farm and equine businesses: Most if not all people with farms and/or horses have pets. Partnering with a local purveyor of livestock feed or outfitter of equine apparel allows you to market to and engage these potential customers. I have sponsored a local horseman’s association for a few years now and have earned loyal customers who refer others in their close-knit community.
2. Gymnastics and dance studios: Middle-aged females are our core customers, and these venues attract mothers and grandmothers who likely have pets at home. I focus on equipment sponsorships so that 100 percent of the parents see our logo every single time their kid goes to practice or competition. Shared discounts also work well for us.
3. Parent teacher or athletic booster associations: Tapping into the deep community roots of these organizations can boost awareness for your brand. I have assisted in fundraising, sponsored teams and even offered redeemable benefits to great success.
4. Property management companies and homeowners associations: Property managers want to add to their list of amenities, and the associations provide a captive audience. I have done myriad efforts such as resident discounts; gifts for new pets, birthdays and gotcha days; raffle prizes; and on-site pop-up shopping and services. You can also sponsor poop bag stations.
5. Bars and restaurants with dog-friendly menus and accommodations: Just like in the pet industry, these businesses are looking for ways to differentiate themselves and create returning customers. I have provided menu items and partnered on events.
When partnering with any type of business, the goal should be to create a unique experience that provides value to potential customers — and that benefits you and your partner by creating new, recurring customers that will grow your revenues. Take a look around and see who could be a good fit.