PARTNERING FOR MUTUAL BENEFIT.
Partnerships have always been a critical strategy for businesses looking to grow in unfamiliar markets, tap into new customer segments, or sell additional products or services and are by no means new in the business world.
When it comes to the potential of the digital economy, most companies are just scratching the surface. As the internet drives the surge toward connectivity, partnerships will progressively become more important. This will lead to multiple sectors of the economy becoming increasingly digitally interconnected.
WHAT IS A DIGITAL PARTNERSHIP?
A digital partnership is a collaboration between two companies or a brand and an influencer, where the two parties share a target audience as well as a service or product that benefits each other.
An effective partnership could be a sportswear company teaming up with a gym to showcase and sell their products to clients at the fitness centre. Or perhaps they would rather target new consumers through social media, with influencers such as bloggers or Instagram stars that can showcase the company’s ranges to their followers, and provide unique codes for discounts which can be used to track the partnerships effectiveness.
WHY ARE PARTNERSHIPS BECOMING INCREASINGLY IMPORTANT?
Strategic partnerships are on the rise for a number of reasons, and one of the largest drivers is the increased power of the consumers.
With the customer gaining more knowledge (and therefore buying power) with internet and rise of social media, brands need to be useful, inspire and create value and experience for the customer.
Joining forces with either other companies, brands or an influencer is a way to elevate the experience for your customers. From a business perspective this is really clever as you can join forces to reach brand new target audiences or solve other challenges with a partner to bounce solutions with.
HOW TO FACILITATE A DESIRED PARTNERSHIP.
We work with organisations in the early stages of a partnership to ensure there is a good foundation on which to build the collaboration.
To give your partnership the strongest chance of success we can provide: initial scoping, building potential partner relationships, developing joint objectives, creating a partnering agreement and put in place a governance and operational structure.
Flight Digital also provides the additional benefit of having pre-established connections with some of New Zealand’s biggest brands and companies.