Over the course of history, we’re used to seeing businesses in constant competition with each other (Coca-Cola and Pepsi being a great example of this), but is this mentality on its way out?
As businesses, we’re used to being told that we need to beat our competitors, keep our secrets close to our chests and retain our staff at all costs, but as our society is moving into a space where mental health and wellbeing are becoming more prevalent, we’re starting to see people gravitate more to brands that match their own values, making more conscious decisions on who they choose to purchase from based on these.
So what is a win-win mentality and why is it important in the workplace? It’s all about brands working together with an equal goal – whether that’s making more sales, brand recognition or something entirely different. This is in stark contrast to a win-lose or lose-win situation where only one side perceives a positive outcome. It’s about creating solutions that bring as much value to one party as it does the other.
Win-win mentalities aren’t just about partnering up with other businesses and sharing products, but can also be implemented on more of an internal level; for example sharing employees or knowledge to grow each of your capabilities.
Businesses that have successfully implemented win-win situations
There are a great deal of examples of businesses that have joined forces to create better solutions for their customers. They’re often not in the same industries, but have found their shared values complement each other and provide a better experience all round.
Sky and Netflix
In October 2019, Sky announced that they were going to start bundling their TV packages with Netflix, saving their users from having to subscribe separately. This has saved their customers money, providing them with a more appealing service, as well as encouraging more sign-ups for the people at Netflix.
Spotify and Uber
Uber added Spotify integration way back in 2014, allowing riders to play their own music during their journeys and creating a more personalised experience, whilst also giving Spotify more play time.
Nike and Apple
The teams within both businesses realised that music and exercise often go hand-in-hand, and have used their partnership to make the most of these shared interests. The Apple watch is also joined up with the Nike Run Club app, encouraging users to exercise while they enjoy their Apple product.
Next and Costa
Next introduced the popular coffee shops into many of their stores, encouraging their customers to take the time to sit and relax, ultimately spending more time in the store and potentially spending more money.
Red Bull and GoPro
After realising a close synergy between the type of customers that these two brands had, they started working together on a variety of events, including Red Bull’s Stratos space jump. These two businesses formalised their working relationship in 2016 with a contract spanning content production distribution, cross-promotion and product innovation.
How Datam partner with like minded businesses
We created Datam to facilitate this type of cooperation, covering the entire value chain in the payments sector. Everything we do is aimed at creating additional value for all, using collaborative methods to achieve shared objectives and rewards.
Our innovative platform streamlines and automates the entire merchant sales and onboarding process, allowing our collaborators to sign up new customers in less than five minutes.
If you’re interested in finding out more, get in touch with us today.