5 Steps to Develop a Partner Strategy

Whoever said two heads were better than one was right. That said, whoever decided that two companies function better than one was even smarter! If you are looking to kick up your marketing efforts through forming a strategic partnership, here are five steps you need to take to develop a partner plan.

1. Choose the right partner

partner marketing strategyYou want to be selective about who you choose to partner with. Make sure that their own company mission or outlook closely aligns with your own. Are they serving the same customer personas? Same business size? Is the partnership mutually beneficial where you’re filling a need and they are as well?

Don’t be afraid to trust your gut. If they don’t seem like a right fit earlier on, they likely won’t be later.

2. Be transparent about your goals

Enter into their partnership with both sides knowing exactly what they want to achieve through this move. This way, no one gets blindsided by certain changes or grows dissatisfied later on. Also, by being transparent you can share the metrics you’re looking for, from revenue to total additional customer headcount.

3. Develop a communication strategy

How often will you collaborate, talk or meet in person? Meanwhile, who are the go-to points of contact for various projects or areas? You want to hash all of these factors out before entering into a definite agreement.

4. Be honest about your weaknesses

You don’t want to paint a rosy picture of your organization when you have specific issues that you still need to address. If you are honest with your potential partner upfront about these weaknesses, you can work together to improve them.

5. Get it in writing

Write down all your business objectives, and create clear outcomes you want to occur as a result of the partnership. If you have it in writing, you’ll be able to stick to your plan and not wonder about what to do next.

And of course, if you’re interested in becoming a partner, we have a variety of ways to work with us.

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Bo Bandy

Bo Bandy

In her next life, Bo will be a race car driver. Until then, she’ll continue to enjoy the challenges, rewards and pace of developing, implementing and managing communications and marketing programs. Driven, passionate and results-oriented, Bo manages ReadyTalk’s marketing and communications team which is responsible for “all the things” including demand generation, content marketing, PR and customer advocacy. Most importantly the team drives revenue and fuels the growth of the organization. Prior to ReadyTalk, Bo managed external communications activities including media relations, marketing promotions, social media strategy and execution, special events, marketing collateral and web activities for both B2B and B2C companies including technology startups, video game giants and healthcare non-profits. Follow her on Twitter, @bo_knows_."

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