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Tips: Smart Startup Partnerships (Square & Starbucks)

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Learn why your startup should explore strategic partnerships and how to approach this effort. (Presented by LEAN/CUT. Marketing, formerly DIALOGIKdigital.)

Learn why your startup should explore strategic partnerships and how to approach this effort. (Presented by LEAN/CUT. Marketing, formerly DIALOGIKdigital.)

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  • 1. Smart Startup Partnerships: Square & Starbucks Startup Marketing E-Book Series
  • 2. Welcome! Thankyou for downloadingour e-book. We hope you find it helpful! Stay tuned for more titles in our Startup Marketing E-Book Series. Sign up for our e-newsletter to learn when new e-books are available! The DIALOGIKdigital Team
  • 3. About DIALOGIKdigital DIALOGIKdigital provides strategic digital marketing services to companies of all sizes. We work primarily with startups and their founders, investors and leadership teams to grow their new products and services. Startupshave unique marketing challenges, so we offer flexible, customized services to address them. Our marketing strategies accelerate market visibility and win new customers. Visit us at www.dialogikdigital.com to learn more.
  • 4. About The Author Pam Kulik, Founder & CEO of DIALOGIKdigital, is a digital marketing executive who started working with startups in Silicon Valley during the Internet Boom. She founded DIALOGIKdigital in 2009. Pam’s expertise has contributed to the successof clients’ new companies and product lines by increasing their brand awareness, lead generation and social engagement results. She optimizes the best mix of marketing tactics for sales growth and improved marketing ROI. Visit our Web site for more details about her background.
  • 5. Smart Startup Partnerships: Square & Starbucks One of the most important strategic imperatives for any startup is securing partnerships with high profile brands - ideally global. Strategic business partnerships help your young brand leverage a partner’s established distribution channel and existing customer relationships to promote your products and services. Also, associating your lesser-known brand with a "bigger" brand conveys legitimacy and trust to your most important audiences: prospective clients, industry analysts and investors.
  • 6. Smart Startup Partnerships: Square & Starbucks The Partnership Strategy With a $3.5 billion valuation based on Starbuck's $25 million investment (in addition to the partnership), startup Square (founded by Twitter co- founder Jack Dorsey) aims to move beyond its smaller mom-pop customers and hit global outlets. Though Starbucks has its own pre- pay rewards card program where customers can add to their card balance via the Starbucks Web site, Square is a new alternative that offers advanced features, such as customer- recognition when they walk into a store. This is valuable “Big Data.”
  • 7. Smart Startup Partnerships: Square & Starbucks The Upside For Square? A lot. A prestigious global retail partner as proof of concept, a new investor and more consumers downloading the Square mobile app - which expands their base and makes it easier to sell their service to other large retail chains. The Upside for Starbucks? A seat on the company's Board, an investment that will payback after an expected IPO, and fulfilling its mission to be one of the best customer-centric brands in the world with advanced consumer-focused technology to make purchases fast and easy.
  • 8. Smart Startup Partnerships: Square & Starbucks Partnership Strategy Tips Consider the following topics when researching potential strategic partnerships. Keep in mind that a partnership must be a “win-win” deal for both parties! Does the company have a positive brand reputation? Are their clients complimentarywith your client base to increase your sales? Would you like them to invest in your startupor just be a business partner? Are any of your competitorsa strategic partner with the company?
  • 9. Smart Startup Partnerships: Square & Starbucks What high-profile partnerships do some of your competitors have? If you are a cloud-based company, do you offer API Connectors to this potential partner’s services? Are you open to a revenue with a partner? Are you willing to provide marketing visibility for your partner to your client base in exchange for access to theirs? Do you want to set a time limit for the partnership that also includes an opt-out or extension clause if it isn’t generating sales leads?
  • 10. How To Select A Marketing Consultant Get Started! Marketing has as many sub-specialties (e.g. PR, social media, lead gen, PR, etc.) as YouTube has channels. It’s important to prioritize the tactics that address your startup's immediate and long-term needs. With the help of experienced startup marketers, you will save you a lot of time and resources. And if you're preparing to launch your company or new products and services, you should hire talent with extensive launch experience.
  • 11. Next Steps If you have any questions about this e-book or want to discuss your marketing challenges, please call 323.450.2309 or email us at info@dialogikdigital.com. Receive weekly marketing tips and a quarterly e- newsletter bursting with marketing strategies. We also announce our new e- books! Join Our Facebook Community! “Like” us and we’ll send you a “virtual” high-five back!