Marta Peral Ribeiro

Marta Peral Ribeiro
– Communication Consultant –

The most innovative ideas arise from collaborative work, from different points of view, from diversity, and not from the head of one individual alone. It is in contrast that we get new perspectives and can redefine concepts and campaigns. But how to choose a business partner? What do you get out of it? And what can you lose?

Marta Peral Ribeiro
– Communication Consultant –

The most innovative ideas arise from collaborative work, from different points of view, from diversity, and not from the head of one individual alone. It is in contrast that we get new perspectives and can redefine concepts and campaigns. But how to choose a business partner? What do you get out of it? And what can you lose?

If we think about the meaning of the word itself, a partnership is the collaboration between two or more people with a view to achieving a common goal. At the business level it means a strategy of cooperation between at least two entities, with a profitable result for both parties.

It is customary to have partnerships between companies in the same market, whose products complement each other. But there are also companies whose focus is to expand the area of business, to meet the specific challenges of the current strategic climate.

Another fascinating aspect of partnerships is that even competing companies can establish them. Furthermore, this is one of the reasons for seeking a partnership: when competition is too much and it becomes unsustainable to compete in price, it is better to “join them”, as the saying goes, and become the part that’s missing rather than trying to be the best.

And, as always, the focus should be on the customer. What is relevant to the consumer? What does Company X have to offer that may be of interest to the customer of company Y?

Advantages of partnerships

More diversity, greater audience

As there are customers on both sides, the market segment becomes more diverse as well, increasing the reach of the audience.

In addition, by uniting their strengths (be it skills, strategy, experience), companies can increase the offer for customers: they can create products, services or campaigns and convert leads into customers.

Enrichment of teams

Partnerships can and should be explored in such a way as to enrich not only the lives of the client’s but also that of the employees of the companies themselves. For example, through courses in which the parties exchange knowledge and competencies.

Exclusivity

One type of partnership can be the creation of an exclusive product to a company /brand. Especially when the partnership is between a smaller brand and a larger one, the former can gain greater visibility and sustainability (benefiting from the trust and status of the other company), while the second can offer an exclusive product.

Beyond borders

Because of their geographical location, there are companies that gain a lot by joining foreign entities, especially when the currency is different. In addition to having those who oversee the business on the ground, the foreign company can readjust the business to the culture and currency of its country.

Life is much easier for the customer, namely at the digital level, when they wish to purchase a product on a foreign website and there is a representative company who they recognize, in addition to the assurance of currency conversion Without this, on the other hand, the customer is more than likely to give up the purchase.

Fears

One of the concerns when considering a business partnership is the sharing of information, whether related to the company and their customers, ideas, or strategies, etc.

However, the benefits usually overcome these fears: by sharing, both sides receive, apart from the number of new ideas as well as technical and theoretical knowledge.

There is yet another common fear: will the entity with which we form an alliance do its part? In this case, once again, trust is necessary. Without confidence it is difficult for a project to move forward.

For expectations to be aligned, partners must unequivocally define their roles, how the commissioning will be done, who will provide customer assistance, among other details considered relevant.

How to choose a partner?

1. Get to know your partner well

Study what the partner entity does, how they do it, their objectives, target audience, values, vision and style of communication.

The more you know, the easier it will be to identify the opportunities that favor both parties.

2. Mutual respect

Trust and respect on both sides is vital, and sufficient information about the internal unification of the companies is shared, so that there is openness for a new project.

3. Authenticity

This is an increasingly valued factor. The critical consumer eye forces brands to be as authentic as possible. As a rule, if the customer feels that the partnership is solely commercial, they will lose interest.

4. Same values and a common ideal

Especially for younger consumers, who value social causes, it is essential that partner companies present not only the same values as a clear purpose for building a better society (visible through actions).

5. Complementarity between products and services

The partnership proposal should address the needs of customers on both sides, and one of the ways to get there is to find complementarity between products or services.

6. Alignment of expectations

This is the time when each party’s expectations from the collaborative work are put on the table, with genuine interest in building a real and solid relationship.

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#pub: partnerships with influencers

In recent years one of the major trends we have seen in the world of marketing is partnerships with digital influencers.

According to a study by LINQIA, in 2020 companies showed a clear intention to maintain partnerships with influencers, using content in different marketing channels:

plan to use influencer content in other marketing channels in 2020

Currently there are agencies that are dedicated to studying this market, looking for the best correspondence between brands and influencers. So, if your company wants to create a partnership but doesn’t know which influencer to choose, you can turn to agencies that offer that service.

Another relevant point is the issue of diversity, as mentioned above. The brand can and should seek a partnership with an influencer that is not the most obvious, to reach a larger audience.

For example, if the brand is baby products, you do not have to assume that the digital influencer will be a woman. There are fathers too. The play will be more original if you have a father as the face of the campaign.

Case study: IKEA and LEGO

Those who have young children know how exasperating it is to find Lego pieces scattered around the house – especially when we step on them!

We know that IKEA values children’s play, the organization of the house and the feeling of feeling good about it. In addition, it is attentive to consumers, who add systems to solve the storage of toys – namely LEGO, an iconic toy in the homes of families in the four corners of the world.

What better solution could come if not to unite the playfulness offered by Lego with the organization offered by IKEA?
lego ikea

That is how BYGGLEK came about: a range of storage boxes compatible with LEGO pieces, with different sizes, which in addition to storing the pieces also serve to play.

This was certainly a well-designed partnership, in which two major brands were able to combine their experience and creativity to meet the needs of consumers (the younger and older). Equally genius is the parallelism that exists between the child who builds his toy with Lego pieces, and the adult building his furniture from IKEA.