85 percent of executives feel strategic partnerships are important to their business. How are you utilizing partnerships to fuel your business’s strategic growth? Early last month the Chief Marketing Officer (CMO) Council and the Business Performance Innovation (BPI) Network released the groundbreaking Grow from the Right Intro report sponsored by Powerlinx.
“In today’s competitive world of brand marketing, using the power of marketing partnerships to gain exposure and utilize new distribution channels is not only smart but also an essential marketing tool for businesses who want to remain competitive in today’s constantly changing marketplace.
The average business spends less than 5 percent of its revenue on research and development (R&D). As vital as researching the development of new products and services is to long-term success, the costs and risk involved in such initiatives often limit businesses from investing in their longevity.
I am constantly amazed at my bipolar expectations of the Internet. On one end, my online and mobile banking apps give me exactly what I want the first time. I do not need to scroll through dozens of pages to find the info I’m looking for. I can easily download relevant content like statements, and there is little or no extra content that is irrelevant to me.
Over 80 percent of senior executives feel partnerships are important to business growth, but methods of sourcing and maintaining effective long-term partnerships remain elusive. According to the recent Grow from the Right Intro study sponsored by Powerlinx, nearly half (45 percent) of senior executives find it challenging to keep their partnerships active and mutually rewarding, and 42 percent struggle to build an ongoing win-win relationship.
“Many…businesses pay their overseas vendors in the local currency. But not all business owners have the time or expertise to figure out how to avoid being hit by a sudden change in the exchange rate.” – Suzanne Sataline, New York Times
Collaboration is at the heart of every business success. Long before we start selling we engage with a range of partners, including manufacturers, logistic companies, import and export agents, lenders and investors. Indeed, just about every aspect of a business is in some way dependent on a strategic partnership.