Companies are shifting. In the not too distant past, the majority were looking for immediate ways to launch marketing activations with NPOs that were fun and gained brand awareness but they weren’t always aligned with one another’s long-term plans.
Now that’s shifted and as a result, not only is finding the ‘right’ partner to plan with key, realizing the challenges that may lie ahead of a partnership and preparing for those is just as important.
I recently read a Harvard Business Review piece where Keith Weed, Chief Marketing and Communication Officer for Unilever, discussed his views on what makes a successful public private partnership. I loved the piece and it was insightful to hear this point of view from the lens of a brand. Here are some of his key thoughts:
- Find the right partner: Successful partnerships should draw on the marketing, consumer understanding and expertise of the private sector; and the reach, resources and scale from the public sector.
- Make it incremental: A partnership shouldn’t replace or replicate existing programs. Instead, focus on identifying new approaches or amplifying and extending the scale of proven programs.
- Empower the partnership: A senior executive must champion the partnership to ensure that the longer term goals survive the inevitable internal distractions and new priorities that arise in any business.
These shifts indicate there will be stronger ROI for the entities involved. What do you think?