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It’s National Global Entrepreneurship Week, Reader... We see you out there, and we’re literally here for you!

In today’s edition:

• 🎤 Today's Tip of the Day is for Facebook

• 🤝 ⚖️ The right way to find strategic partners

• Custom feeds rolling out on Threads

• More LinkedIn Ads tools

• 🗞️ Additional industry news from Messenger and YouTube

Do you use a Facebook group to communicate with your fans and followers? Is Facebook's algorithm making it harder for your posts to reach all members organically?

While Groups still have their place, a new feature is emerging to help you make sure no one misses important messages.

Try a Facebook Broadcast Channel

A channel is ideal if your primary goal is to broadcast updates, announcements, and content to a large audience without expecting extensive back-and-forth discussion.  

You can share a consistent stream of content such as exclusive offers or quick tips, and connect directly with followers who opt-in for updates.  

If you’ve shied away from groups because you don’t have the time or inclination to deal with moderating community engagement, Broadcast Channels offer a less moderated environment where you control the content flow and interaction is primarily through reactions and polls.

Who can create a Broadcast Channel? The feature is currently showing up for:

• Pages for businesses, organizations, and public figures with over 10k followers.

• Individual creators with over 10k followers who use a Professional Mode profile.

Today's tip was inspired by Social Media Examiner’s Editorial team.

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Developing Strategic Partnerships That Scale With Less Effort: Part 1

Are your marketing efforts falling flat? Wondering how to build meaningful business relationships to help your business grow? 

In this article, you'll discover the first steps in a proven process for building genuine partnerships that benefit both parties and their shared audience.

4 Types of Scalable Strategic Partnerships to Consider

Strategic partnerships extend far beyond short-term transactions, simple business arrangements, or formal agreements. These relationships can take many forms, each serving different purposes and offering unique benefits to the participants. 

Through her years of experience, Pamela Slim has identified four distinct categories of partnerships that can transform a business's growth trajectory.

Ecosystem Partnerships

The first category, which Slim calls ecosystem partnerships, encompasses broad relationships that include influencers and business connections.

PB&J Partnerships

PB&J partnerships (peanut butter and jelly) form between providers offering complementary but non-competitive services. For instance, a business coach might develop strong relationships with accountants, graphic designers, web developers, copywriters, and IP attorneys. 

Each professional serves the same clients in complementary ways, creating a comprehensive support system for their shared customers.

Referral Partnerships

The world of referral partnerships represents yet another vital category in this ecosystem. These arrangements, which can be either formal or informal, develop organically as service providers prove their value and reliability to each other over time. 

The key to successful referral partnerships lies in the mutual trust and understanding that develops through consistently delivering high-quality services to referred clients.

Brand Partnerships 

The fourth significant category often takes the form of content collaborations or long-term strategic alliances. These partnerships allow both parties to reach new audiences and create value in ways they couldn't achieve independently.

Start With a Firm Foundation for Successful Partnerships

Before diving into the tactical aspects of building partnerships, it's essential to understand the fundamental principles that underpin successful collaborative relationships. 

The first block in your foundation is absolute clarity about your business's mission, values, and objectives. This clarity isn't just about having a well-written mission statement; it's about deeply understanding why you're in business and what transformation you aim to create for your clients.

The next block is a clear understanding of your ideal customer. Rather than defining your audience through traditional demographic markers like age, income, or location, Slim advocates for understanding them through their problems, challenges, and aspirations.

For example, suppose you're working with business owners who want to scale through intellectual property. In that case, you need to understand not just their surface-level needs but the entire journey they're on and all the touchpoints where they will seek help along the way so that you can have partnerships ready to serve them.

Slim has developed a comprehensive framework called the Ecosystem Wheel, which places your ideal client at the center and maps out all the online and offline places where they seek solutions to their challenges and connect with others facing similar challenges.

The ecosystem wheel extends beyond digital spaces or professional networks. It encompasses associations, conferences, local government initiatives, nonprofits, and other gathering places where your ideal clients seek solutions.

Understanding this broader ecosystem in which your business operates is crucial. Each section of the Ecosystem Wheel represents a different avenue for reaching and serving your target audience. Think of each space as a place where you can find potential partners from the four categories above. 

Considering this broad ecosystem of potential partners, think about it like casting a wide net. This net encompasses a multitude of potential partners. Now, your task is to discern which potential partners make sense for your clients and your business.

Narrow the field to prospective partners that A) offer a service of value to your customers and B) the potential for growth in your own business through reciprocating referrals.

Now, you're ready to begin making contact and building genuine, human-led relationships.

That’s it for part 1! Check Monday’s newsletter for part 2.

Today's advice is provided with insights from Pamela Slim, a featured guest on the Social Media Marketing Podcast.

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LinkedIn Sales Navigator Lead IQ: Lead IQ, a new feature, provides instant summaries of a lead's experience, achievements, interests, commonalities, and activities using LinkedIn's data. The tool reduces research time by condensing hours of research into quick summaries and helps sales professionals prepare for unexpected meeting participants. Account IQ, introduced last year, has been enhanced to provide more detailed, personalized insights about how a solution fits a target account's needs. Source: LinkedIn

Meta Messenger Calls: AI-generated backgrounds will soon be available for video calls, accessible through the effects icon in the sidebar. HD video calls will be enabled by default on Wi-Fi connections, with an option to enable it for cellular data in call settings. New background noise suppression and voice isolation features can be activated through call settings. Users can now leave audio or video messages when calls go unanswered by using the "Record message" button. Hands-free calling and messaging are being added through Siri integration, allowing users to send messages and make calls using voice commands. Source: Facebook

Custom Feeds on Threads: Users can now create custom feeds by searching for topics and using the three-dot menu to select "Create new feed." Custom feeds can also be created from user profiles by tapping the three-dot menu and selecting "Add to feed." Additional topics and profiles can be added to existing feeds through the three-dot menu by selecting "Add to feed." Users can switch between For you, Following, and custom feeds by pulling down on the home screen. Source: Threads via Threads

Text Formatting on YouTube: A text formatting update has been launched for Studio descriptions. The update relocates bold, italic, and strikethrough text options to the bottom left corner of the description editing field in Studio. The update has been fully launched on mobile platforms and is being rolled out to desktop. Source: YouTube

Did You Know?

Luna moths are among the largest moths in North America, with a wingspan reaching up to 7 inches.