Strategic Partnerships What's The Deal With Them?

In today’s world we can’t achieve big goals alone. Whether it is personal or business, there is always a team of cheerleaders, experts, mentors and coaches right there beside us. That concept applies to your brand as well. It’s important to think about partnerships especially strategic ones that can boost your business and brand.

The great thing about strategic partnerships is that you get to reach out to a new audience who you probably wouldn’t have before. It can give birth to new opportunities and ideas. Partnerships are also a fun way to test your creativity mojo.

As an example, many brands align with Amazon. It has become a major platform where brands get to reach many users around the world in an instant. All it takes is a click of a button and customers can purchase multiple products, practically anything for different sellers.

Another example from our own client, we once worked with a yoga brand that wanted to gain awareness. So it made sense that we partnered them up with a mega spa which offered yoga classes. Both the yoga brand and the spa took to social media to cross promote each other’s services. As a result happy customers and happy brands all around.

So I know the question you have is how do you find strategic partners? Well it’s actually pretty easy. First you need to have a clear vision of what your goal is. Do you want to gain more customers? Or maybe you want to make more sales in a category or product. Maybe it’s simply just getting your name out there into the world. Whatever your goals are, get very clear of them.

Next you want to work with brands or businesses that are in the same industry as you but offer a different product. Make sure that your products are different enough so that you wouldn’t be competing against each other for a customer’s attention.

Lastly don’t be afraid to reach out to collaborate. When you do, be upfront about what you are trying to do. Make sure you share with your future partner why it is beneficial to them to partner with you. And if they say no, don’t give up because there are many small businesses or even start ups out there that would love to partner with you.

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