Let’s talk about what makes a great partnership.
It’s the perfect balance of complementary differences: crispy bacon and runny eggs; sweet chocolate and creamy peanut butter; sharp vinegar and… salty salt? (You try and describe what salt tastes like, I dare you.)
It’s important to not only choose the best combination of partners, but have a strong partner program that encourages them to stick around for the long-haul. How you achieve that is down to how well you execute your partner journey plan.
This guide will take you through what makes a great partner program, the steps you need to include, and how to ensure your new partners are all happy bunnies.
So, ready to get started, or are you just hungry?
Step 1: Partner selection
Step 2: Partner recruitment
The next step in your partner journey is to go from stalking them online to reaching out.
We always say how much a partnership is like a relationship in terms of the amount and time and effort you should dedicate to it. More importantly, is how you need to continue with the same level of enthusiasm throughout – don’t just peak at the first date.
So, partner outreach is you proposing your first date. What do you need to do to increase your chances of them saying ‘yes’?
In a nutshell, consider what prospecting methods you’re using e.g LinkedIn INmail or cold emails, and whether that’s the best way to approach your potential partners. Also make sure you prioritize demonstrating what value you have to offer, personalize where possible, and always follow-up!
Step 4: Metrics to track in your partner program
What does a successful partner program look like?
It depends who’s looking at it. In order to ascertain whether or not your partner program is on the right track, first take a look back at those initial goals you set out.
Do these still fit what you’re trying to achieve, or have things shifted a little along the way? Make adjustments as necessary and ensure your north star is still shining strong.
Next, use these key metrics to track and measure how programmatically you are doing as a Partner Manager:
- Portal logins
- Completion of training content
- Leads/revenue generated
- Engagement e.g do they attend regular meetings?
These core metrics will allow you to see how engaged your partners are and will go a long way in supporting you as you support them.
You can also use them to pinpoint individual partners that may need some additional attention. Someone that could potentially churn may be re-engaged if you’re able to identify what the issue is and reach out to them.
Grow and engage your ecosystem partners with PRM
Easily prioritize your partner relationships by automating and analyzing each step of your partnership lifecycle