In today’s business landscape, other businesses aren’t always competitors. In fact, businesses offering complementary products or services can greatly benefit your own business. This is where Strategic Partnerships become a great marketing tool.
A strategic partnership between two businesses or brands is an agreement between both entities to establish a relationship that is beneficial to both parties. The goal is to establish a valuable partnership that will bring added exposure to your business without sacrificing your current customer base. For example, Spotify, a music streaming service, and Hulu, a television program streaming service, have partnered up to allow members of either service a discounted account with the other. What does Spotify have to gain by making it easier for their users to leave their own platform for a different service? The answer is more customers!
By partnering with brands with complimentary, but not duplicate, services, you make yourself available and discoverable by entirely new audiences that fall within your ideal customer. Green Arrow prides ourselves on developing and fostering these types of partnerships to help our clients succeed.
Whether you’re looking for a value-added partnership like Hulu & Spotify, a co-branding partnership, or any other kind of mutually-beneficial strategic partnership, Green Arrow’s staff has the negotiating power, know-how, and established relationships to strategically and painlessly position your business to their (and your!) customers.