Answer: it’s your partner relationship!
First and foremost, Happy Valentine’s Day. With so much love going around today, let’s not forget to send some flowers to your company partners. So, with that in mind, let’s review some of the top necessities for a successful partner relationship.
You need to see eye-to-eye with your business partners and understand the overall objectives of both parties. Are you two cross-selling to each other’s customers? Combining technical skills to develop a new product? Having corresponding vision and values is the cornerstone to holding a partner relationship together. And by establishing these goals early on, your brands will be perfectly in sync and can work together to build a strategy to reach them.
Like every relationship, you may not agree on everything. Being able to have an open mind and collaborative leadership helps keep partnerships on track strategically. Compromise is just as important in a business relationship as it is in a personal one. When planning a campaign with a partner, keep an open mind and work to ensure all parties are comfortable with the strategy. Understanding how to lead through influence and appealing to your partner relationship is a critical skill.
Much like content creation, value creation is crucial. How are you creating value for you company, your partners, and your customers? Are you driving to the other brand’s website? Are you making it easy for your shared customers to purchase complementary items from both brands? If you are generating a surplus of value together with your partner, you are on the path to creating a successful partner relationship.
Trust and Commitment
We’ve saved the best for last: trust and commitment. The two most important pillars in a relationship. Trust comes in many different forms like reliability, integrity, and execution. Knowing and trusting that your partners are looking out for your best interests – and you vice versa- forms a mutually beneficial outcome.
With these four relationship pillars, you and your business partner can enter a strong and successful collaborative mindset. Your partner relationship will find more value and achievement together, giving you a competitive edge in your field.