
Partnerships for win win win….
Partnerships are a great way to make the most of your marketing budgets, reach new customer bases and allow marketing teams to create real WOW activity. The partner brands can ‘feed’ off each other’s success, customer reach and credibility. It’s a classic case of the whole being greater than the sum of the parts. There are, however, some crucial tips:
•Brands need to be realistic in what they want from it, what the partner brand wants from it and that you are both getting a genuinely mutual benefit. Whilst the phrase “win, win” is a little over used at times, it is never more true than for partnerships.
•Honesty is key. Any hidden agendas or over-promising will come to the fore in the end and this will only serve to waste everyone’s time and money.
•Focus on the long term. Identifying, negotiating and developing a partnership opportunity can take time, so once in place make sure the opportunity is maximised and a long-range...