Thursday, 3 February 2011
Strategic alliances = business growth
Creating strategic alliances between companies and/or individuals enables common goals to be achieved for mutual benefit. You don’t have to be a massive organization to benefit from cooperation, sometimes a big fish needs a smaller fish to develop ideas and strategies – get out there find a partner!
Strategic alliances are critical for companies who are trying to compete globally. Customers require integrated products and this need is forcing companies to work together to create packages (eg car hire combined with hotel accommodation and air travel). Well organized, networked alliances create new products and accelerate mutual growth.
During the Summer of 2009, Windows and ReverbNation created a strategic alliance that enabled independent musicians and artists to give away their music for free – but be paid by sponsorship of these songs. This was a radical ‘win win’ business proposal – the sponsor, Windows, were able to embed advertising into the graphic (cover artwork) of the downloadable mp3 and the artist was paid. The payment per download to the artist was low in comparison to iTunes, Amazon etc. but the value in exposure, reaching a larger market, was generous compensation. These participating artists have been given the opportunity to let their ‘Sponsored Song’ continue as a free download in a new archive as part of a new initiative called “Playlist 7” Read more...