Page 222 - Social Media Marketing

210 Walk Like a Giant, Sell Like a Madman

An "ad agency" by the name of Anomaly (www.anomalynyc.
com) has embraced the concept of business+business partnerships.
While traditional ad agencies generate revenue by charging com-
panies for the creation of advertising and marketing materials,
Anomaly teams up with companies to develop intellectual property
that it licenses to clients in exchange for a portion of the revenue
that the intellectual property generates.

The idea is that the traditional ad agency is inefficient, earning
revenue by charging clients for time and for media produced. This
arrangement actually rewards the ad agencies for inefficiency. The
more time they invest in creating marketing and advertising media,
the more they earn. In addition, the less successful the marketing
campaign, the more marketing media the client will require to meet
its sales goals.

Instead of charging its clients, Anomaly develops revenue-
generating products and shares in the profits that those prod-
ucts generate. In an example highlighted in a report by Fast Com-
pany (March 2008, No. 123), Anomaly created a line of luggage
for Richard Branson's airline, Virgin America. Anomaly examined
ideas from all aspects of Virgin America's operations and deter-
mined that it could transform the luggage that the crew carried into a
revenue-generator. According to the Fast Company article, Anomaly
"brought in snowboard company Burton to help craft an edgy black
suitcase with skateboard wheels and removable cosmetics pouch.
Sales from the luggage, which will be available commercially later
this year, will be shared three ways among the companies. What
would have been a cost for Virgin is now an additional revenue
stream."

Although Anomaly has a business model that specializes in
these business+business partnerships, there is nothing standing
in the way of any two businesses partnering up in creative ways
for their mutual benefit. Look for such opportunities inside and
outside of your marketplace. You could discover the next big
thing.