When J.P Morgan Chase paired itself with Amazon and gave out their Amazon Rewards Visa card, it was clear that they had adapted the new trend of teaming up. They surely knew that Amazon was number one online retailer and thus they sealed the deal. This very trend of shaking hands for mutual benefits is what we call Affinity Marketing. The technique is not new to be true. Move back in time and look at the conventional times. A vegetable vendor would set up his stall next to a meat seller to enhance sales. Similarly, you always find drug stores close to hospitals, coincidence? Not really. The pairing has been an old-school technique but it has been revolutionized lately.
Marketing and business is all about adapting and adopting. The quicker you get to the pace of advancements gives a measure of the time you need to make it to the top. Affinity marketing is the golden lad of the marketing class and is a technique that brings profits to two at a time. Sounds more like the common idiom about two in one. Affinity marketing gives two firms the real chance of bonding up for mutual gains. It makes gains likelier for both groups and brings about eased success.
Let’s just discuss it with the example of J.P Morgan and Amazon. Chase Banking System increased its customer base as the people linked to Amazon found the rewards pretty attractive with the “Rewards card”. At the same time, Amazon grew its sales as it offered its incentive services to those using the card. This very step virtually increased their sales. With Affinity marketing, it is a sure-shot thing that both the parties get fruitful results out of their pairing. It is win-win situation for both in the easy words. Moreover, it can be said that it is a lot about two pieces of puzzle fitting in perfectly and with relative amount of ease.
In addition to that all, Chase Banking got a hint of rise in repute (though it already had an awesome repute) as it paired itself with the largest online retailer. For Amazon, the gains were no less as it got some new-loyal customers with the help of Affinity Marketing. Companies love to get things going their way. To make such circumstances probable, they can even expect the unexpected and do the don’ts. As far as affinity marketing is concerned it is surely a do-do-do. Not that it is undemisable or undeniable, just that it brings about the best out of a marketing campaign.
Affinity marketing is pretty much adjustable to certain circumstances. It shapes itself to what you need out of it. There are thousands of groups that may help you to make a bond to them but the thing is that you need to look out for the best possible match. You would not want to tie yourself into a situation that has never-ending needs and no output. The thing that matters in affinity marketing is find of a perfect fit. For example, the AARP group realized that they needed to pair with Home Depot. Home Depot, being the largest organization for the older adults also found the pros out of the deal. For the AARP, they got a huge amount of target audience whence paired with Home Depot. In case of Home Depot, they got good enough services for their existing customers and an awesome In-store branding too.
World has got a lot out of this technique, but do not ever make a mistake of thinking it as an easy task. It is more of a difficult task than marriage. You are choosing a partner for a firm of hundreds or more here! It is a choice as tough as one can be. You would never want to have an affinity marketing campaign involving a bond of a food chain to a medicine chain, would you? Similarly, you would want to have a complete knowledge of your target, be it sales, marketing reach or customer attraction.
No one wants to hand a marketing budget worth millions to be given to a rookie and these new trendy techniques like the affinity marketing are more of a complex task for anyone who’s not a master of the marketing ring. So, better not get your best bud in the marketing field be fooled by some experimentalist with “zero” knowledge of the marketing mayhems.
Queries? Feel free to put forward your question.