Affinity Marketing
This article covers meaning & example of Affinity Marketing from marketing perspective.
What is Affinity Marketing?
Affinity Marketing is a type of marketing where one company is associating or partnering with other firm to gain brand loyalty and awareness through the synergy created by the partnership between similar or complementary organizations. Affinity marketing is the opposite of composite marketing. It can be in the form of cross endorsements between partnering organizations, shared incentives for participation among the organizations and enhancement package of benefits for consumers.
Affinity marketing is becoming rampant in e-commerce with the sharing of referrals between partners through hyperlinks, banner ads and icons.
Some of the reasons why affinity marketing should be used are that: we can have cross selling of products to existing customers, group marketing effort to individual niches, negotiate mutually benefit marketing relationships, solicit endorsements through association with many members etc. Affinity marketing is common amongst services like gas stations, airlines, banks, hotels etc.
Affinity Marketing Example
Some of the examples of affinity marketing would be J P Morgan Chase partnering with Amazon.com, the e-commerce retailer. They offered the Amazon.com rewards Visa card and gaining synergies by catering to online shoppers of the world’s largest online retailer. It is a win-win situation for both parties. Chase bank increases its overall customer base, and Amazon is likely to get more people buying from it through the incentives offered for those credit card users.
Hence, this concludes the definition of Affinity Marketing along with its overview.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
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