Do you ever read press releases about alliances & partnerships? I can imagine you don’t, it is not the most attractive bedtime reading! I often do read them, see it perhaps as an occupational deformation. I always look for certain ingredients written in these types of press releases, particularly whether it is really an alliance or a partnership and what value is being generated for the customer?
A typical press release goes something like this:
“Company ABC, global market leader in X, has signed a partnership with company DEF, market leader in Y, to jointly do Z to help both companies to increase their market share.”
Then the press release continues with some quotes from executives from both companies tooting about how they will strengthen their own positions thanks to the new partnership.
Apparently only market leaders send out press releases (or should I say self-proclaimed market leaders?) and the partnership always seems to be there to increase their own position.
Press releases generally have “me, me, me” written all over them, there is no collaborative value in there, even when they contain an alliance announcement. Most of the time, it is really difficult to discover the value for the customer in the press release. That, however, is where any alliance effort should start, with the 3-way alliance value proposition. A value proposition that creates value for the partners in the alliance and for the customer or, in the case of healthcare alliances, the patient.
This win-win-win value proposition starts with the question: “What value can we jointly create for the customer or patient?”
Press releases can be done differently with the customer or patient at the centre without immediately tooting one’s own horn. A good example is this press release about a new collaborative initiative, called Nothing Small About It, by Jazz Pharmaceuticals and four cancer organisations. It is perfectly clear what the benefit for the patient will be upon reading the header – right at the start of the press release.
I believe that true collaborative press releases with the customer or patient at the centre will have a bigger impact than traditional “me, me, me” press releases. It shows collaborative leadership and lives and breathes collaborative value.
What’s your view on collaborative press releases?