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Mike Gubman, head of business development at TikTok, shared key strategies and frameworks for facilitating and maintaining win-win partnerships at the May keynote event.
Crafting successful partnerships means taking two parts and making something better together. In doing so, you can express creativity AND accomplish your business goals.
So what makes a good partnership? A good partnership achieves goals for both parties with a clear call to action and apparent value. Additionally great partnerships enable something unique and press-worthy that couldn’t have been possible by either party individually.
Before jumping into a partnership, it’s important to do the following:
Step 1: Determine your goals
Step 2: Identify what your company can’t do alone
Step 3: Find the right partner
Starting small is often overlooked and underrated. Don’t be afraid to pursue the minimum viable partnership. In addition, limiting technology and investment during the initial stages of partnership development will be beneficial. Once you’re aligned, don’t miss a few critical best practices.
Remember that a launch is not a single moment in time. Expect that things will break and require fixing. This is what makes testing and iteration so essential in ensuring positive outcomes. This is also why the best partnerships are ones that continue over time.
A successful partnership isn’t a one-and-done kind of thing.