Changes Reflect an Increase in Market Demand for Technology Solutions to Better Manage and Optimize All Aspects of Partner Marketing
Performance Horizon, the leading provider of partner marketing software for global brands, unveiled its new name, Partnerize. Along with the new brand name, the company has introduced a series of product enhancements to its flagship partner management platform.
The company’s decision to change its branding and update its offering reflects both its single-minded focus on making partnerships easier, and the increasing business gains that brands are realizing through partnerships of all kinds. There has been a fundamental evolution in the partnerships category in recent years. Partnership now encompasses dynamic new sectors including channel partnerships, loyalty partnerships, influencers, referral partnerships, and brand-to-brand alliances in addition to affiliate marketing. Partnerize now mirrors that marketplace shift in both name and practice.
“The partnerships category has expanded and evolved a great deal in the past several years,” said Eric Bosco, Vice President and General Manager of SmarterTravel, a TripAdvisor Company. “Success in this dynamic arena requires powerful technology so that we can drive data-driven decision-making and better optimization. We look forward to continuing to work with the Partnerize platform and team to drive strong results from this large and growing sector.”
“Increasingly, leading brands are putting partnership at the center of their growth plans, and our new name reflects our mission to partnerize brands so they can drive extraordinary growth through this remarkable business channel,“ said Mal Cowley, Partnerize Co-founder and CEO
Partnership is a business channel that has been growing and evolving significantly in recent years. According to The State and Future of Partnership – a global survey of 1,200 business leaders also released today by the company, the partnership arena has grown to encompass more forms of business collaboration, and a massive share of total online revenue. Specifically:
- 95% of business leaders surveyed report that their companies have performance partnerships in place
- 74% say performance partnerships are a high or very high priority for their companies
- 56% say that the performance partnerships channel drives more than 20% of total company sales and 24% said it drives more than 30%
A key driver of the growth in partner-driven sales has been the broadening of the category to include new forms of partnership. From its strong and fast-growing foundation in the affiliate marketing industry, partnership has expanded to include innovative new types of business relationships with influencers, tech companies and other major brands. According to the survey, “brand-to-brand” and “influencer” partnerships now account for an impressive 24% of total partnership category sales.
To help empower brand sales and marketing leaders to form and grow partnerships more quickly and easily, the company is also introducing 25 enhancements to the client and partner user experiences today and over the next two months. Collectively, the enhancements create more intuitive workflows, improved navigation, simpler payment and conversion tracking, richer data visualization, streamlined campaign management and better creative tracking.
“Partner marketing is often an advertiser’s highest ROI channel, but it has been difficult to scale in the past.” said Ian Sigalow, Co-founder and Partner at the VC firm, Greycroft. “Every advertiser needs a platform to compete with Amazon, and traditional web advertising is losing effectiveness as consumers become blind to banners and display advertising. Partnerize built world-class technology to enable any brand-to-brand partnership, and is building a vast global ecosystem to help brands drive growth through this important channel.”
“At Partnerize, our vision is to make it easy for brands to make the most of this critical growth channel,” continued CEO Cowley. “Our new name reflects that vision and our commitment to drive growth and constant innovation in the partnerships industry.”