How can you negotiate a brand collaboration that benefits both parties?

This is what is often overlooked by organizations - it needs to be a win/win. What benefits and opportunities are you going to be able to bring to the other party? You must do your research and understand where there is an opportunity to respond to gaps, threats and risks in the market. And how this partnership can fulfill these. It needs to be created in consultation with one another - the other party must have a sense of buy in and ownership. Really the initial contact is about opening up a discussion around a potential idea. You certainly don't want to approach it like you have all the answers.

Start with the goal and how it maps to each party - is it exposure and sales to a new audience? Thought leadership validity? Improved experience for customers through a technical integration? If you’re the one initiating the partnership, write them down yourself and bring this to the conversation with the partner. When you’re both on board and start executing, map and track those goals! Don’t get caught up in clicks from a UTM link if you’re seeking sales. Don’t hyper focus on sales if you’re building brand exposure.

Where possible you need to understand the strategic direction of the organization - what does the next two years look like for them and how can this partnership be of value? There are lots of resources and insights on line that will help you piece this picture together. Organizations partner for lots of different reasons so make sure you have shown genuine commitment to knowing their business. And future direction.

Again this is something that needs to be co-designed together. You are going with ideas to help stimulate initial interest and further the discussions. It is essential that whatever you agree to is in writing and is able to be followed up and measured. Key areas you will want to have agreeance on include - key outcomes and impact - key milestones and timeframes - who is responsible for delivering what - ways to measure progress and how often this will happen - how will partners keep each other accountable for delivering - how often you will meet/communicate and for what purpose - who owns what in terms of IP/ how will this be shared as part of the partnership

A partnership is not so one way in terms of one partner pitches and the other party makes a decision. Modern partnerships and collaborations are more organic and equal, while still having structure and being professional. Partnerships need equal input and commitment to make it work. This approach seems more like a traditional agency/client relationship and not how I have approached it.

Again with a modern approach this will not be a major roadblock as it will be uncovered through discussions as part of creating the partnership. Before entering this process I always advise my clients that they need to be very clear on what they are willing and not willing to negotiate for an opportunity. At times you need to be prepared to walk away as it is not in the best interest of either party. This also means being very clear as to how you work and the standards you maintain. This make it easier to make smarter, informed decision if and when the time comes and they are under pressure.

The human aspect of partnerships is wildly undervalued. While you want to get to know your partner’s business, you should also be getting to know the person behind the deal and communicating in a way they works for *them*. This might be detailed spreadsheets, colorful charts, bulleted emails, or a phone call. No two partners are the same and treating them as such can be a big mistake. If you work in partnerships, I’d recommend keeping a personal spreadsheet of these notes for each party - not just communication style, but personal notes as well (names of kids and dogs, hobbies). It’s a great asset for you, and valuable to pass on to others on your team or your replacement if you move!