Cross Marketing Partners

In case you haven’t heard, Polariod has decided to create a strategic partnership with Lady Gaga as Creative Director for a specialty line of imaging products. Now if you are like me, you were surprised by them partnering but as I read more about it and gained a better understanding.

It looks like Polaroid is trying to reach a younger crowd by creating a partnership with Lady Gaga and a broader audience. As I look into this partnership, I wonder if it is going to far for Polaroid or if it just might do the trick to bring popularity back to their instant camera line of products.

As a business owner, have you looked at creating a strategic partnership that would not only challenge the way you are viewed by the public and also may raise questions? If you do consider doing something like this, what are somethings that you need to keep in mind when making your selection.

• Will the other business owner’s services/products match with yours?
• Will you be able to cross market to each others client base?
• Determine how far you are willing to “stretch” your partnering arm.
• Do you want to partner with someone who may be viewed as controversial or do you want to play it safe?

The video below includes the announcement about the partnership that was made at the 2010 Consumer Electronic Show (CES) in Las Vegas on Thursday, January 7.

[youtube 4pcmXpKHJHg nolink]

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