Partnerize VP of Revenue - APAC Simon McDonald just published a byline in Martech Series on how partnerships can help brands enter and compete in China Entitled How to Leverage Partnerships and Martech to Win in China, the post outlines the reasons why partnership is a great opportunity for China and some actionable advice on how to get started in the world's fastest growing market. Here's a excerpt to whet your appetite:
First on your list should be identifying and implementing a means to deliver timely partner payments. With any partnership arrangement, brands must be prepared to seamlessly transmit payments to partners before things kick into full gear. In China, this can be especially challenging because China operates on its own government-driven Fapiao payments system. You need to work with martech technology that makes Fapiao payments in China every day — who has done the costly and time-consuming work of establishing an official business entity in the market — as this is a compulsory payment process, set by the Chinese government.
Further, to get the most benefit from your partners, you need to capitalize on their expertise. The more direct and collaborative you can make your relationship with these businesses, the more likely you are to succeed. You need to connect regularly and listen to their ideas so that you can formulate programs and tactics that will resonate in the market. One of the ways to help with this is to have people on the ground, or work with brands that do. Using Mandarin speakers, or working with others that have this resource, will allow you to be more effective in managing direct relationships, and ultimately more successful.
Read the entire post here.