Ditching baggage, why size matters and how to land the right message to people in partnerships
In partnership with FIVERR
Welcome to Partnership Wednesday! Here are 3 ideas from me and 2 questions for you to consider this week to create partnerships you never thought possible!
3 IDEAS FROM ME
I.
Two years is the minimum term for a strategic partnership. Any less and it’s a short term arrangement that carries unnecessary baggage including the need to review and renegotiate the arrangement just as runs are being put on the board. Learn more about how to create IDEAL strategic partnerships here.
II.
Forming small, focused partnerships with niche players to tap into specialised expertise or unique market segments can be just as powerful as forging large scale alliances.
III.
How can you tailor your communication style to various stakeholders in Partnerships? I was this asked this question from the crowd this week. Here’s my answer:
Talk to people's incentives.
Every stakeholder in a partnership has two types of incentive, how the partnership benefits their organisation (or their team or division) and how the partnership benefits them at an individual level. Tailoring communication (including updates and requests) should take into account both incentives so the messages appeal to their organisational and personal ambitions.
The vast majority of partnership communications is one-size-fits-all. Taking key messages and creating tailored versions that talk to those two incentives powerfully demonstrates you understanding of stakeholder needs, builds trust and paves the way to deepen the partnership to create additional, and often unexpected, value..
1 QUESTION FOR YOU
What would it take to evolve our one-year arrangement into a three-year strategic partnership?
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Until next week,
Phil Hayes-St Clair - Partnership Expert
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