Jürgen Stephan |
on February 22, 2010 |
category: a look into agency life |
Do business partnerships make sense?
Everyone has their own agenda. When we get offers to partner with someone via cold call, e-mail or at a networking event, we ask a lot of questions: Does this product/service benefit me? Do I need to give up something? How can I trust that person? Are they reliable? Will they compete with me? Will they taint my client relationship?
Truth of the matter is: nobody can do it all. If you have a successful business, it’s probably based on something you’re good at and have found a way to make money doing. But sometimes, opportunities are larger than what you can deliver.
Case in point – we’re a direct marketing agency and are sticking to our core capabilities focused on ROI-based marketing programs that drive leads and sales for our clients. All too often, we run into brand assignments with the goal to increase brand awareness for a product or service. While tempting, that doesn’t fit our expertise and business model. The same goes for e-commerce websites, for which there are specialty shops that are really good at that. Better than we are.
In order to be successful, you need to be able to say NO. And when the opportunity arises, find a suitable partner to fill in the gaps and start integrating your work with them. This requires transparency, top-level commitment, willingness to give something up and plenty of extra effort to integrate people and processes well. Depending on the assignment, you may choose an embedded team relationship on the premises of either partner or a working relationship based on scheduled travel for planning and review meetings.
The benefits: You increase your capabilities; your team participates in interesting, often more complicated assignments and thus can refine its skill sets and enrich your service portfolio.
We just won a major account this way within the last week and out-competed a few pure-play shop and other partnerships, as well. The integrated story, the experience level on both sides and the passion among our agency partnership resonated well with the client and now we’re fulfilling on that trust.
Partnerships do make sense! Watch out for your new opportunity.
Comments:
3/9/2010 at 11:53 a.m.
Partnerships
Other than the two dozen certified production partners that we work on an ongoing bases for print, laser and lettershop, fulfillment, etc. we have also formed relationships with general ad agencies whose clients have a need for direct marketing best practices. If we receive a branding assignments ourselves, then we'll redirect it to those partners. Each party stays true to its core expertise. Feel free to e-mail me for a specific case or request.
>>Jurgen Stephan, Seattle WA
who are your partners?
agree that no firm can 'do it all' who are the partners you use regularly, and what areas of expertise do they cover?
>>brian flynn, seattle WA
