Think of some of your favorite pairings…some of mine are ice cream & cake, the beach & a good book, or spending your tax refund on new slimmer jeans since you just lost weight. (I’m still waiting for that last one.) The main thing about all of those “good pairings” are this…they are “win-win” situations for all involved. The ice cream and cake both get eaten and complement each other’s tastiness, the beach gets appreciated as part of nature while the book’s author gets a new reader for his or her hard work, and the government helps put money back into the economy while the jeans compliment the wearer’s new figure.
My point is…they are all good partnerships and the “strategic” part is finding which organization or other company would make the best pairing(s) with your business. So how do you determine which is the right type of “strategic partner” for you?
Start by making a list of the ways your business can help your community.
Ex: A retail clothing boutique…
- They could donate out-of-season clothes to charitable organizations.
- They could offer workshops on “dressing for success” for the local high school graduates, etc.
- They could partner with area salons, shoe stores and jewelry stores for holiday gift shopping events
- They could partner with area restaurants for a Valentine’s or Mother’s Day event
Then make a list of ways your business could use help and support FROM your community.
- The neighborhood shoe store, jewelry store and hair salon could use clothes from the boutique to enhance their own product displays and showcase the boutique’s logo in those displays.
- These same stores could link to the boutique’s web site from their web sites (and vice versa.)
- Area celebrities and news people could promote the store by wearing the clothes at publicity events and on local news programs.
- A local event planner could hold a fashion show using clothing from the boutique for a high profile charity event.
There are so many ways to form good “win-win” strategic partnerships…it’s just a matter of looking in the right direction. So, seek out the businesses and organizations that you think your business can help and then determine what ideally would help your organization as well…and then make the connection. That’s a “win-win” scenario if ever I heard one.
(If you would like help with forming your best strategic partnerships, please click on my CONTACT page and send me your contact info to schedule your FREE Marketing Consultation.)