What Makes a Good Partnership for Your BusinessOctober 1st, 2010 | Small Business | 1 Comment »
No matter what type of product or service your business provides, the question of partnerships will come up. There are several types of structures a partnership can take, but it usually breaks down into two real forms: Complementary and Marketing. Complementary relationships focus on offering a service to an existing platform (and group of potential customers for your business). Marketing relationships is really just an offshoot of that, but the focus is less on filling a need than attracting the attention of an audience.
Which is right for your business really depends on your product and the potential audience. For example, we here at KikScore just announced an integration with Shopster. To us, it really is an ideal arrangement. First off, it broadens the awareness of our product and has been generating a lot of new customers. But it also filled a need for Shopster — providing a cutting edge trust/security service for its platform customers. In other words, we’re providing a service that is needed to a customer base that we both want to reach.
Sounds pretty straightforward, right? But it’s not. You need to find the right partner. Our integration and relationship with Shopster would never be successful if we didn’t share the same view about customer service and quality. It’s hard enough to build concencus with your own team, but unless you communicate well with your partner, and are on the same page, things can get really difficult.
We’re feeling pretty good about our newest partnership, and we’re excited about the buzz it’s creating, but it only reinforces all the preparation and deliberation we took in working with Shopster. So here’s to partnerships and finding the right one. We feel we did.