Strategic partnerships are mutually beneficial relationships with other organizations or businesses. The right partnerships can add great value to your events and initiatives.
A partnership is a voluntary collaborative agreement between two or more parties in which all participants agree to work together to achieve a common purpose. In a partnership the participants undertake a specific task and share risks, responsibilities, resources, skill sets and benefits.
Meaningful partnerships help to create the foundation for success. Each partner brings something to the table that contributes to a successful outcome. For example, you may partner with your community newspaper for an event. The newspaper gets positive PR by supporting the event and your event receives free advertising to help promote it.
Another opportunity for a strategic partnership would be to work with a local restaurant that serves healthy meals. At an event, the restaurant could provide samples of their food, potentially gaining new customers and the event attendees get to taste some great food that is good for them.
In order to effectively open the conversation with a business or organization about a potential partnership, you could:
As soon as you have come to terms, draw up a letter of agreement and send it to your potential partner. Even if you have a long-term relationship with this person or company, put your agreement in writing so that nothing is misunderstood or forgotten.
*BCRPA, Active Communities Marketing Toolkit