Leveraging corporate partnerships: Taking a leaf out of July’s playbook

Source: Supplied

In today’s ever-evolving business landscape, corporate partnerships have emerged as a powerful catalyst for growth and success. As the global general manager of July, I have witnessed firsthand the transformative power of strategic collaborations. Unlike the easily measurable performance of digital channels, assessing the impact of partnerships requires a more nuanced approach. However, their return on investment (ROI) is unbeatable, offering access to untapped audiences and the ability to convey key messages and signals. In the past few years, we’ve worked with globally recognised brands and organisations such as Xbox, Virgin Australia, Visit Victoria, the Olympics, and the Commonwealth Games. 

Partnerships, for us, fall under the category of earned media. Similar to editorial inclusions and product reviews, we never pay for these collaborations. Instead, they serve as third-party verified marketing initiatives that lend credibility and enhance brand perception. By aligning our brand with complementary partners, we create a mutually beneficial environment where our products and services are showcased to new and engaged audiences. 

The success of partnerships lies in their ability to reach customers who cannot be easily bought or influenced through traditional marketing efforts. Through collaborations, we tap into the existing trust and loyalty that consumers have towards our partners. This trust transfers to our brand, establishing an immediate connection and positioning us as a trusted choice. This intangible value is invaluable and cannot be replicated through traditional advertising. 

Why partnerships matter

The key to securing great partnerships lies in building a great brand ourselves. It is imperative to cultivate a strong brand identity, one that resonates with our target audience and sets us apart from competitors. When our brand carries a reputation for quality, innovation, and reliability, it becomes an attractive proposition for potential partners. Collaborators are drawn to our brand’s values and aspirations, recognising the potential for a mutually beneficial relationship. 

Beyond enhancing brand perception, partnerships offer numerous tangible benefits. They provide access to new distribution channels, allowing us to expand our reach and tap into previously untapped markets. These collaborations also facilitate cross-promotion, enabling us to leverage our partner’s customer base and vice versa. Through joint marketing efforts, we amplify our messages and reach a wider audience, maximising our brand exposure and driving business growth. 

July’s global general manager Zhoe Low and July’s campaign for the Commonwealth Games. Source: Supplied

Moreover, partnerships foster innovation and creativity. When two like-minded entities join forces, they bring together their unique perspectives, expertise, and resources. This collaborative approach sparks creativity, resulting in the development of innovative products, services, or experiences that captivate consumers. By leveraging each other’s strengths, partners can achieve more than they could individually, driving industry disruption and setting new trends. 

However, it is essential to approach partnerships with a long-term vision and a commitment to maintaining the integrity of the collaboration. Authenticity and shared values are paramount to ensuring the success and longevity of the partnership. Customers can discern genuine collaborations from mere opportunistic alliances, and they are drawn to partnerships that align with their own values and aspirations. 

Corporate partnerships have become a cornerstone of our growth strategy. While measuring their success may be more nuanced than traditional marketing channels, the unparalleled ROI, access to new audiences, and third-party validation make them indispensable tools. By focusing on building a great brand and forging authentic collaborations, we have harnessed the power of partnerships to elevate our brand, expand our reach, and drive innovation. The world of business is evolving, and those who embrace the transformative power of partnerships will find themselves at the forefront of success.

Zhoe Low is the global general manager at July.

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