How Brand Partnerships Enable Better Revenue

Staff WritersArtificial Intelligence (AI)Partner Management & Channel EnablementPrice Optimization & Revenue Management

By STS Staff Writer On Aug 26, 2022

Brand partnerships are essential…

While these partnerships are crucial in all sectors, we are going to focus our discussion on the technology sector where top brand partnerships completely changed the game in the market.

We understand technology gets better and better day by day.

As humans, we grow together. There is a time in our life when we lean on someone to grow. The same is true in the business world. A company needs to find a partner or a collaborator to complement it. These connections are important, they take us forward, help us grow, and keep our business on a successful track for a long time.

That said, let us walk you through some of the key benefits of brand partnerships in the modern world:

1. Helps to alleviate apprehensive future challenges

The future is unpredictable and we learnt more about this during the pandemic. While all the businesses tried to adapt to new methods of business, that’s not the end for sure.

Fortunately, we have new technologies and innovative ways to use these technologies to meet current and future business needs. How do you implement it? This is where technology partnerships can be a boon.

2. Requires a specific talent

Imagine you have a new project at hand, but your team is not able to deliver it as you lack a certain skill set. On the other hand, you cannot hire new talent due to the absence of sufficient time and resources.

In this scenario, a tech partner will provide you with the required skillset. This is cost-effective and less exhausting than hiring a new candidate.

3. When new technology seems elusive

Are you seeing your competitors going ahead with the latest technology while you are still stuck at the same place? Do you fear missing out on digital transformation? Do not worry, a tech partnership is what you need currently.

4. Offers a new set of eyes backed by experience

Partnership with a technology firm can offer multiple levels of testing and repeated proofreading. They offer you solutions for your specific business needs.

At the end of the day, we do business with humans. We trust them and long to create meaningful relationships in the future. You can try to succeed in your business on your own, but if you successfully establish relationships, the chances of success improve.

Here are some of the key technology brand partnerships that you can learn a thing or two from:

1. Kantaro Biosciences

To develop one of the first covid-19 antibody testing kits for researchers,

The New York-based network of a dozen hospitals and medical research centers; Mount Sinai Health System partnered with RenalytixAI to create Kantaro Biosciences. RenalytixAI is a company specializing in diagnostic testing and the partnership created the first covid-19 antibody testing kit for researchers.

2. Microsoft and SAS

Both came together to create an emergency response system to function during disasters.

In February 2020, data analytics company SAS partnered with Microsoft Azure to create a response system to detect natural disasters, including floods and hurricanes. With the help of Azure’s internet of things solution, SAS could:

Modernize the town’s flood response
Automate tasks requiring more manual process of dispatching public service vehicles.
Opening new disaster solutions and more.

3. Microsoft and LG Innotek

LG Innotek is a leading and cutting-edge materials manufacturer. The company has partnered with Microsoft to unblock access to 3D vision technology. The innovation is used across various industry verticals such as healthcare, fitness, retail, and logistics with the help of LG Innotek’s ToF (Time of Flight) 3D camera modules and Microsoft Azure’s depth platform.

4. Google Cloud and Nokia

Nokia and Google Cloud entered a global, strategic partnership to initiate new cloud-based 5G radio solutions for all the communication service providers. The two companies successfully collaborated by combining Nokia’s Radio Access Network (RAN), Cloud RAN, Open RAN, and edge cloud technologies with Google’s edge computing platform and applications ecosystem.

5. Samsung Electronics and Intel

Both the companies have successfully collaborated to create high-performance DRAM. Intel has made a large-scale investment in the founder sector and on the other hand, Samsung has developed a 512 GB DDRs memory module with the largest capacity in the industry.

Final Word

Technology partnerships exist to help an organization implement and optimize its technical systems. It can be a product partnership or a service partnership. These partnerships have always proved to offer a new platform of integration to support companies that use IT systems to work in sync with each other.