A focus on shared values is one of the most critical ingredients to successful media partnerships, according to a panel discussion at last week’s Advertising Week APAC in Sydney.

In a session called Get Real: How Authentic Partnerships are Driving Customer Growth, PlayersVoice director of marketing and partnerships, Lucy Wadsworth, said “You don’t want to be in a partnership with others where your values are not aligned – there must be agreement on this right from the get-go.”

John Matthews, director of Customer Acquisition at KayoSport, voiced his full agreement with Wadsworth. “Entering partnerships, businesses must make sure there is absolute transparency about what you both want to achieve. If you’re expecting one thing and the other party is expecting another it makes the partnership so hard to manage.”

Nathan Crook, general manager of marketing at Ticketmaster, said shared values were important for a business’s core product. “You must ensure that any partnership enhances your core product. Your key partners have to help enhance your business at the end of the day.” 

The session was chaired by Adam Furness, managing director of Impact APAC, who asked the panellists for useful other tips businesses might use in deciding on the potential of media partnerships. Wadsworth said, “Be curious. Curiosity lets you scratch the surface to investigate different products and offerings that could support business growth.”

Another tip from the session was the need to clearly identify a business problem before entering a partnership, so the decision process is not distracted by unnecessary offers in market.