They say two heads are better than one, so why wouldn’t two companies be better than one? Expanding your public relations reach by partnering up with another company can often be incredibly beneficial to both parties. Also, it can possibly relieve some of the economic strain we’re all still feeling in these tough times.
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Finding the Right Match
Just like dating, finding the right match for your company’s PR needs can be tricky unless you have the right mentality going in! Just like love, it’s a two way relationship, not just beneficial for you, so keep in mind you need to think of the other company’s needs as well. Otherwise nobody will get anything they want!
Also, don’t assume because you’re in the window treatment business that you automatically need to pair up with another decorative minded company. In fact, the more diversified your partnerships are, the more opportunities you’ll have to reach a wider audience.
Consider pairing your window treatment business with a home lighting company to reach the maximum customer base in the home decoration industry. Or, alternatively, find a company that specializes in another industry altogether, as it may find another demographic you can market to. Studies show that women do most of the shopping in the United States, so why not pair up with a women’s website or consumer network?
Big or Small?
Deciding on whether to partner with a fellow small business or a giant corporation is another tough choice to make. Obviously, you’re going to have way more advantages economically with a big, well known company, but you may find that your voice won’t be heard as much than if you pair with another start-up.
Big companies might more than likely have a whole series of partnerships which could also be beneficial to you. It depends on the level of control you want over decisions made in name of your company.
Keep in mind that while you work with your new friend in business that each company has its own way of running things. There really isn’t a “wrong” or “right” way in this scenario; what works, works. Use this to your advantage!
If your window treatment company has found that online marketing is successful but television ads are a bust, and your new pal Home Lights ‘R Us have enjoyed lots of success with TV commercials but not with social media, forcing the other to change their mode of attack will more than likely end in tragedy. Instead, both companies should use what works for them to cross promote their new buddy company, instantly widening the consumer base for each party.
Don’t be afraid to carry the workload for a little while, either; sometimes, business is just slow for one reason or another, and your partner company might be in a rough spot (or vice versa). If you think it’s beneficial to pick up a fellow business for success in the long run, then be prepared to work hard together to make it happen.
What companies would make a great partner for your business?