Coopsight Open Platform overview — with real life partnership examples
The Coopsight Open Platform
Coopsight is a simple-to-use platform that matches startups to synergetic startup partner peers.
The platform’s main interface can be broken down into 2 sections — matching and synergy insights.
Let’s break down the features and their use cases -
Synergy keywords are our key product feature.
Startup members find ideal opportunities through insights on shared operations and recommendations on specific partnership execution.
The synergy insights, defined in the content of partnerships, are most important in understanding the way the platform can be efficiently used.
For example, DoorDash and FoodNetwork’s synergy keywords give an insight into general ways the two companies can cooperate, through synergies such as ”Cooking shows ingredient orders”, Cooking tutorials based on groceries orders’’.
Our proprietary algorithm also offers a deeper analysis into ways a company like DoorDash could complement its specific (grocery) operations with Food Network, through keywords such as “prepared grocery kits”, “missing recipe ingredient orders”, “favorite ordered meals recipes”.
Or in the case of DoorDash and Lime (a famous shared-scooter mobility company), the shared partnership keywords include “scooters for couriers”, “scooter rides discounts for deliveries”, “scooter parking near restaurants”, giving further insight into the product specific cooperation recommendations.
Coopsight synergy keywords provide a clear path forward for both general cooperation activity types, as well as the specific recommendations in regards to the combination between two unique products.
Match scores give a relative ranking of how urgent/effective a recommended partnership is. Coopsight also pre-filters the very low score results, ensuring that every match you’ll see has the highest collaboration potential.
The matching tool allows you to build a pipeline to streamline your partnership opportunities: helping separate partnerships that are essential for your company’s growth, from partnerships that are a great value-add but don’t require immediate implementation.
In the 3 matches displayed below, the partnerships between Spotify and Ticketmaster (an application selling tickets for large events), Merchbar (merchandise sales platform for artist) and Uber (ride sharing) have matching scores of 95%, 90% and 75% respectively.
In the case of Spotify’s match, there is no doubt all three of the partnerships offer great opportunities. But in terms of relevance, Ticketmaster is a direct extension of the listener / artist interaction in the space of music consumption. Logically, all potential concert goers stream their favorite artists’ songs through music platforms, and therefore are more likely to make a ticket purchase right off the page.
As a second partnership, Spotify can choose to build synergies with Merchbar; a tool that would support “music app clothing merchandise sales’’ and allow for “merchandise release notifications based on saved playlists’’. Artist’s merchandise is another synergetic option for Spotify, since it is a strong sales channel that offers merchandise to users who have listened to specific artists. However, it is not as direct of a synergy as ticket sales, given that merchandise albeit a component of the wider music industry, is a more niche preference based sector.
In the case of Uber, — it’s synergy with Spotify in the keywords of “passenger music controls”, and “driver playlist synchronization” also represent a strong channel that brings new capabilities to Uber’s users during commute. However, the combination is likely to cover only a small user base overlap between Uber commuters and Spotify song listeners, which is unlikely to lead to a huge spike of customers. Nevertheless, this partnership provides an additional tool that would increase commuters’ exposure to Spotify, which is a great long term growth initiative.
The three synergies are great opportunities for Spotify. These examples are an illustration of the match score use cases for all Coopsight users. Coopsight always gives a match result based on the direct benefit to your startup and the relative proximity of the matched startups industry — (while filtering out all non synergistic partnerships).
Upon having a match, you can communicate with a matched partner in the messaging section. Besides direct messages, you can also share files and request product pitch decks from your potential partners.
This feature allows you to instantly communicate with partners, without anxiously waiting for that partnership proposal to be read.
It’s hard to imagine how many potential partnerships were missed, by sending proposals to the wrong/non-partnership inbox, or the receiving company simply not reading the partnership proposals sent to them. But this is now a problem in the past.
With all claimed Coopsight accounts being active users, you can rest assured all members will respond to your partnership requests, without getting flooded by unvetted partnership proposal emails yourself.
Try Coopsight for yourself
There are plenty of other examples of the successful use case of Coopsight, that help match startups with compatible partners of all types and sizes.
While we can write a bunch more on the topic, it will never be quite like you trying out the Open Platform, to find new partnerships yourself.
So don’t hesitate to join the Coopsight Open Platform, create a short profile and start matching. Its free!
Partnership marketplace and Future Initiative:
Coopsight has a bold vision. We want to become a platform that guides startups through the full cycle of partnerships and brings a new ecosystem perspective. Launching a partnership should be a simple process of matching, connecting with partners, and instantly setting up, all without leaving the Coopsight app.
We have already launched a unique proprietary matching system that discovers hidden startup synergies and offers an ecosystem based matching solution.
Our next step is to create a marketplace for our users to ease the partnership execution process. The marketplace will include: API & Integration builders, Co-marketing tools, Discounts offering solutions, Partner sales management platforms, and more down the road. These tools will help our members build, launch and sustain synergistic partnerships on Coopsight.
In case you have any feedback, suggestions on new features you’d like to see on platform, or have questions regarding the way Coopsight works — feel free to reach out to me directly at firstname.lastname@example.org
See you on the platform :)
By George Chichua