There are many benefits that come with having public business partnerships. Obviously, there is a greater chance of attaining your goals. In addition, you have more stability with regards to sales. Partners will be third-party marketers for your business as they interact with consumers. Finally, the business will gain more attention because you are combining your efforts. However, there are other benefits that you get such as expertise and knowledge. For example, you can swap employees so both companies can learn from one another. These benefits might not be possible without establishing a public business partnership.
First and Foremost, Be Seen
Business partnerships go one of two ways in the beginning. One way or another the markets will know about it. Sometimes talks of a partnership can leak out to the stock exchange. A car manufacturer meeting with a battery company might mean the markets could see a new series of electric cars. Both companies may then see an increase in interest and stock prices. However, you cannot rely on rumor alone to boost your professional publicity. There are other means in which you can properly energize the markets. Be sure to do so in a manner that will be more reliable to receive positive reactions.
Hold a small press conference with the media upon signing the partnership. This is so the media can take pictures and video of both the respective CEOs. Petronas is the oil supplier to the Mercedes F1 Team, and they both have press conferences with certain media outlets about their work and performance. This is something that you should consider doing for your partnership. You can also use press releases to announce the partnership and how you will be working together.
Hold a Celebration of Accomplishments
Many industries have their own award ceremonies. The most notable is the entertainment industry. Business industries often hold their own celebrations and ceremonies as well. In order to be seen together with your new business partnership, you may want to host your own event. Invite prominent names to a venue and gives out awards of recognition in various categories. Invite the media to gain extra exposure.
Here you can view to see venue options, that might fit your budget and extravagant needs. For a corporate event, you may consider the Hilton by a waterfront as one of your top options. If it’s something more casual and you don’t want people to come in any kind of dress code and merely to enjoy a bite to eat and converse with one another, pick the Pilkingtons. If you would like something a bit more personal and maybe even an event that’s held at night, pick the Thievery Studio. You have so many options for venues that will all fit different kinds of moods. Other venues are out in the countryside so if you want something that’s more exclusive and prestigious as it’s a milestone event in your professional career, then one of these would fit the bill.
Include Each Other in Marketing Plans
Now that you are together, mentioning each other in your respective marketing plans is something that you must do. For example, the Samsung S8, S9 and Note 9 all come with AKG tuned earphones. The earphones have been tuned to give these phones the best sound quality. Samsung could have made their own generic earphones but chose to make sure they have a great set of earphones that come with their latest top range products. AKG is mentioned in the Samsung introductions of the products, mentioned by senior staff during presentations at tech conferences as well as at Samsung exhibitions. This is because the AKG earphones will help to sell the product, as buying aftermarket earphones for consumers is tiresome.
This is a perfect example of why you should mention each other in your marketing campaigns. The reason why is very simple, success by association. You stand a chance of being noticed and interacted with by their consumers and fans. Likewise, your customers and consumers will be curious to see who you have partnered with. It’s a win-win situation for everyone involved. Don’t focus too much on your partner in your marketing campaigns, however. Too much limelight given to them may give off a whiff of desperation and a neediness to be validated.
A business partnership is a wonderful prospect and smart move most of the time. If you make the best of it, you can increase sales and growth. Make a solid effort to be seen. Allow the media to run a story about it, and make sure you have a press release ready to notify the markets of your future intentions together.
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