Partnership: What does it really mean?
Posted by Cameron Gomes on
Partnership seems to be a bit of a buzz word at the moment. In this post, we cut through the buzz to explain simply what partnership means to MindArc.
Recently, we have noticed a shift in the eCommerce landscape. Everyone seems to be saying “partnership” and talking about how they “partner” with their vendors, merchants, agencies and so on. The industry seems to be changing in terms of its value system and what everyone holds to be of highest importance when selecting a “partner”.
For some companies, this term is no more than a buzz word being used to generate some interest. For others, it’s a key part of their core values. We’re here to help you differentiate between the two.
One of our favourite questions to ask someone is “what does partnership mean to you?” Next time someone says they want to partner with you, ask them that question.
Here at MindArc, we’ve been talking about partnership since day dot. We truly believe that the only way for everyone to enjoy mutual success is through partnership and this is something our whole team lives and breathes every day. We do this by simply caring.
We care about our merchants successes and we care about how their customers see their brand via the website and because of this, we always go the extra mile.
Stepping away from the concept of partnership for just a moment, let’s look at the global fashion industry objectively. Luxury fashion brands which once seemed unattainable and distant from their customers, are now actively aligning their values with their consumers values. This is a massive change for an industry which famously sets trends for its market, not the other way around.
Gucci’s CEO Marco Bizzarri, who recently announced the brand would be proudly fur free
Take Gucci as an example. One of the crown jewels of the fashion industry, a company with as much heritage as it has power, stated that all future collections would be completely fur free. Gucci was just one of a number of powerhouse brands to make the statement, alongside Versace, Tom Ford and Michael Kors. We know that animal cruelty has been a huge talking point for years now, with active campaigns from brands such as Stella McCartney and The Body Shop giving the movement massive traction, but why has this been a subject that the big brands have ignored for decades?
Game of Thones’ Maisie Williams supporting The Body Shop’s campaign to end animal testing
The answer seems simple. Partnership.
More media awareness, more digital sharing, more conversations and more transparency than ever before is the reason for this shift towards partnership. The Millennial Generation are arguably going to be the generation to effect huge change for the retail industry as we know it. The Millennials are about to move into their peak of economical power, amassing $200bn in buying power in America alone. With figures like this, it’s impossible for brands not to notice such a massive consumer force so what do they do?
They partner with their customer.
When the largest portion of your customer base has values such as sustainability, cruelty-free and quality at the forefront of their mind, what do you do as a brand? You listen and then you adapt, because if you don’t you lose them. 75% of American Millennials would only buy from a brand which gives back, or actively engages with, projects which they feel passionately about themselves. With 60% of Millennials being brand-loyal, that’s a percentage you want to hold on to. *statistics from Forbes
So, back to partnership. How does this all connect?
Here at MindArc, we see it simply. We’ve always have been, and always will be, completely transparent with our partners.
To us this means being transparent about our values, how we work and how we provide value to you through guidance, strategy and pro-activity. We find more and more of our customers are being accredited with sustainability awards and in turn that makes them more aware of the values they want their partners to have. Working towards sustainability is no small feat, so choosing the right partner to help you communicate that journey has never been more important.
We provide our customers with a business relationship which transcends the usual service agreement. We don’t want to wait for you to tell us a task which you think should be completed on your website, we want to work with you to map out key milestones and goals which we can achieve together. By being transparent and true to our core values, we can provide you with a best-in-class service.
That’s how we define partnership.