Those who we spend time with will often rub off on us. It’s why our parents were often so considerate of “negative influences” growing up, and you’ll also find that this continues on into adulthood. It’s said that we’re often an amalgamation of our closest five friends and relatives, because we’re not just who we are, but what we learn from other people too.
The same can be said for business. For example, when the meditation Headspace ran a years-long cross-promotion with Spotify, it helped them cement their reputation among all other wellness apps by virtue of being “verified” by one of the hottest new music streaming platforms.
Yet not all partnerships are positive in this way. Even a partnership that could be fantastic from a financial perspective may impact our reputation. It can even move further than the commercial space, as we sometimes see with public or political boycotts.
Let’s consider how to achieve the following…
Research Their Public Image & Core Values
It’s good to research how your potential partner shows up in the world and what they actually stand for, including how they’ve lived up to that. Look at their social media presence, read through their press coverage from the past couple years, and pay attention to how they handle controversy or criticism when it comes up. If it hasn’t, even better! If they’ve put reports together, perhaps on their climate action, that can be great too!
That’s because you want to understand not just what they say their values are, but how they demonstrate those values when nobody’s watching or when it costs them something. A company might talk about supporting small businesses but then have a track record of squeezing out local competitors, for instance, and it’s good to know that ahead of time.
Consider Their Past Collaborations & Public Reactions
The partnerships someone has chosen in the past tell you a lot about their judgment and what they consider acceptable associations. If they’ve worked with companies that later became controversial, how did they handle that situation, and what does their response say about how they might handle future problems that could involve you? It’s a worthwhile question to ask.
Figure Out If Your Mission Goals Match & Message That
If you’re both genuinely trying to serve similar audiences or solve problems, there’ll be a better outcome. Some platforms are build out of this, such as Fanfix to help creators connect with fans, as they understand how audiences and businesses interact, as well as the power of reputation. This is a good example of how you can profit from that kind of shared mission in a new way, but for your own partner, you have to check whether their actual business practices match up with their public messaging, because any disconnect there could become your problem once you’re associated with them.
With this advice, you’re sure to better assess your partnerships going forward.
