Strategic partnerships when executed successfully can build momentum for both an association and outside partner. Together, we represent one of the success stories. We stewarded a strategic partnership that benefited both organizations, and we learned a lot about the importance and challenges of these partnerships.

One of us—Sharon Kneiss—was the CEO and president of a trade association for the waste and recycling industry. The other—Warren Bimblick—was group president of a media and events firm. The media company also owned the largest North American tradeshow for the industry, which it bought from the association in the late 1990s. In addition, we had a series of multiyear agreements where the association created educational content for the show and received a fee for its members that exhibited.

When the multiyear partnership and contract was up for renewal in 2014, we had a list of concerns from our respective staffs about the relationship. We had a few conversations and agreed that the current contract neither supported a true partnership nor leveraged the strengths of the organizations. So, we put a meeting together of the managers and ceremoniously ripped up the existing contract and agreed to start from scratch.

After significant review and consideration, we agreed the partnership was still appropriate because while our missions were distinct, there were clear synergies in our visions for the show and the enterprise more broadly. We could leverage the partnership to build momentum, strengthen both brands, enhance resources, strengthen financial positions, and capitalize on each other’s assets.

Over the next several months, the teams worked out an entirely new approach that ultimately resulted in each organization having an opportunity to significantly increase revenues while changing the general nature of the vendor agreement to be more of a partnership. And this approach would also help to grow the association’s membership.

The organizations opened up strategies and financials to each other and even tried new experiments—some worked and some didn’t. Warren regularly updated the association’s board, while Sharon sat on a steering committee for the show.

We were successful in improving the education offerings and increasing revenues from suppliers to the industry, as well as putting a stronger spotlight on the important work of association. We also tried to introduce a satellite show which did not produce the interest or revenues that we had anticipated.

We could leverage the partnership to build momentum, strengthen both brands, enhance resources, strengthen financial positions, and capitalize on each other’s strengths.

What Changed?

Both organizations approached the partnership as an opportunity rather than a competition, agreeing to put our interests on the table and to identify needs.

The media company’s goal was to build a “surround-sound” experience for exhibitors and attendees. This included encouraging use of a daily newsletter and website, an online university that repurposed educational content from the show, and an online marketplace where exhibitors could profile their products.

The association’s goal was to increase its impact, build awareness, and grow revenue and membership, which stood at 650 members. Since the media company had a database of more than 30,000 users and more than 800 advertisers and exhibitors, there was a clear opportunity for the association to grow.

The new agreement put skin in the game for both organizations, and it expanded to provide revenue to the association for member spending on all surround-sound products. The benefit to the member was that buying any of those products resulted in discounts to their dues because revenues were paid to the association.

The two organizations agreed that increased membership was good for both of them. So, in addition to the financial agreement, the media company provided a substantial “soft dollar” amount of promotion on all digital products to the association to help gain members. During the first three years of the agreement, membership, as a result of participation in the show, increased substantially and revenue to the association increased by 20 percent to more than $1 million.

We never stopped collaborating, and we made adjustments as we approached situations of change. Brand awareness of the association and its efforts also increased substantially, according to a survey conducted by an outside media firm. Together, we were able to establish clear measures of success and check those measures at regular intervals, celebrating the wins no matter how big or small.