Putting together an appealing go-to-market partnership strategy is a key element of attracting potential partners and showing them how joining your partner program – as opposed to that of your competitor’s – will help them quickly find new customers and grow their revenue.
Here are five points to consider when structuring your go-to-market partnership strategy:
1. Provide your partners with a new, active sales channel.
Simply being listed in a static directory webpage is one thing, but being offered an opportunity to actively sell products or services through an eCommerce-enabled partner directory is another entirely. With always-on sales functionality, a streamlined proposal process, a customer-centric project communication portal, and secure payment functionality, an eCommerce-enabled partner directory helps your partners connect and transact with your customers better and faster than ever before.
2. Create co-marketing opportunities.
Use your clout to bolster your new partners’ brand awareness and market visibility through co-marketing opportunities. This can take the form of co-branded marketing campaigns or collaborative “product + services” bundles promoted and sold through your eCommerce platform.
3. Let your partners know that you value their feedback.
The popularity and stickiness of your product dictate whether or not potential partners will be jostling to sign up as accredited partners. Attract best-in-class providers by letting them know that you don’t see your partnerships as a one-way street; you see them as collaborative endeavors. Connect your partners with key team members and use their feedback to inform anything from product development, to marketing and sales strategies, to customer support, and more.
4. Deliver win-win situations.
Successful partnerships are based on honesty and transparency, so be open about win-win situations in your go-to-market partnership strategy. For example, using an eCommerce-enabled partner directory solution like that offered by Morphed allows your partners to connect with your customers and close more deals, while also allowing you to be in control of the customer experience. This way, you’re able to guarantee a smooth customer experience and jump in to help with tech support if necessary.
5. Set specific, actionable, measurable goals.
Helen Curtis recommends creating a detailed document outlining the specific goals of each partnership and clearly communicating each parties’ responsibilities and commitments. Include objectives and goals, proposed strategies, dedicated resources (from both sides), timelines, communication, and check-in channels and frequency, and expected ROI. This kind of formalized action plan sets your partner program apart and shows your partners that you’re serious about their growth.
A winning go-to-market partnership strategy needs winning technology to back it up.
