How do you stay current with partner management best practices?

Just like there is an ICP, i.e. an Ideal Customer Profile, build an IPP i.e. and ‘Ideal Partner Profile’. Once you know the IPP, it’s about empathy all the way. Work backwards and figure out what that Ideal Partner needs to succeed. Talk to them, experiment with your proposition, and then build out your proposition. Now if you have what the ‘Ideal Partner’ needs or you can collate a bucket of deliverables that they need to succeed, you have a winner on your hands. Early success metrics, followed by sustained success metrics is the key to a long and fruitful partnership. Without early success, the partnership may not last long enough, to yield the full potential.

We have a funnel where we track how our potential partners and current partners are moving through the stages. We can set up a next steps view that helps us keep track of what needs to be done to get to the final goal.

To stay current with partner management best practices, it's crucial to engage in ongoing professional development through industry publications, conferences, and networking with other professionals in partner management. Additionally, regularly reviewing case studies and success stories within your industry helps identify effective partner management practices. To define your goals and metrics, start by aligning them with your overall business objectives.

Partner management is a sort of synchronisation of working processes, thoughts, technologies, techniques, even souls. Literally, is about one direction but diversity of ways. Each partner is each way of one common goal - one direction.

I think everyone has their own understanding of successful partnership. As for me, communication is the key of long-term and profitable partnership. it's essential to maintain open lines of communication with partners to ensure that both parties are on the same page regarding goals, expectations, and progress. Donald Miller's book: Building a StoryBrand will help you from scratch to clarify your message, goals and set realistic expectations.

Probably the most important is to have a network you participate in which defines, reviews and or enhances the industry best practices around partnerships.

I think, one of the fundamental ways to stay current with partner management best practices is through continuous learning and professional development. Attend industry conferences, workshops, and seminars to gain insights into the latest trends, emerging technologies, and successful strategies employed by leading organizations. Engaging with industry experts and thought leaders can provide invaluable perspectives that can be applied to enhance your partner management approach.

Following industry standards and frameworks is essential for effective partner management. Stay connected to relevant standards and frameworks within your industry, such as those established by industry associations.

Unfortunately, in the broad spectrum of partnership management, there are few established standards or frameworks. The most effective approach I have found is to be cognizant about developing your own framework and best practices. Don’t just implement; implement, document, and refine as you iterate with new partners and new roles. Be able to articulate your framework.

It’s always beneficial to have relationships with people farther along in their career journey. This could be in a structured mentor type program or proactively engaging with people you meet at other business functions. It’s always been interesting to me that people go to industry events, collect “business cards” ( or the digital equivalent), and put them in their desk drawer. Most never reconnect with that interesting person they meet. I’ve met, so many interesting people that have been vital to my journey. I made a point of contacting them after our initial introduction. Lunch? Coffee? I also made sure they knew how much I appreciated their wisdom. Now, I try to make time to share my knowledge with others, when I can.

I'd recommend joining specialised organisations like Partnerships Leaders to get to know what works now and easily find peers and mentors that invest in their growth and share their knowledge with everyone.

Learning from peers and mentors is a valuable strategy in refining your skills and knowledge in partner management. Actively engage with colleagues and professionals in your industry, participating in networking events, conferences, or online forums where you can exchange insights and experiences.

Another great blog to follow is nearbound.com, full of tactics and strategies to understand partnerships management at depth.

Over the past few years, there has been a relative explosion in thought leadership focused on partnering. Unfortunately, much of it is long on hype and short on tactics. Beware of getting caught up in the echo chamber and make sure you can transfer what you learn into positive actions.

Reading books and blogs is an effective way to stay informed and continuously improve your skills in partner management. Explore pieces written by experts in the field, covering topics such as strategic partnerships, relationship building, and effective collaboration.

Attending webinars and events is a great way to stay current and continuously enhance your skills in partner management. Many industry associations, organizations, and companies host webinars that cover a wide range of topics related to partnership strategies, collaboration, and effective relationship management.

Experiment and evaluate is a great way to stay agile and adjust partner management best practices. There is no single right answer, and what works in one industry or with one partner will not necessarily translate well to another. Regular feedback and engagement from all stakeholders can help prevent disconnections and lost opportunity. Be flexible & as always maintaining quality relationships internally and externally with your partnership management team is the most solid foundation to success!

-Read industry publications and blogs focused on alliance management, channel sales, and partnership strategy to keep up with the latest trends, case studies, and advice. - Attend conferences and events for partner management professionals, (Catalyst '24) - Join industry groups like Partnership Leaders and and follow thought leaders on social channels The partner management landscape evolves quickly, so an openness to learn combined with intentional networking/research pays dividends for staying current over time. Let me know if I can lend a hand, or share more detail to help you on your journey!

In looking at ways to stay current with partner management best practices, I always look at the customer and its end users first. I look at the landscape of consumer goods and quick-service restaurants (CPG and QSR). It looks at the consumer behavior at the individual level. Regular conversations with partners offer invaluable insights into end-user behaviors and product/service consumption patterns. Engaging with a partner allows a comprehensive evaluation of their business performance. Effective partner management in this space involves proactive discussions, leveraging shared data, and collectively navigating the ever-changing market terrain.

Whilst staying current is important. No amount of webinars, growing your knowledge of peers, attending industry events or partnership vision is going to create as big an impact as speaking directly to your customers / partners. If you want to know what’s current - ask them. If you want to know what they need now - ask them. The stronger you build your relationship with your partners the better you’ll be able to serve them in both the short and long term.

Staying ahead of the curve in the partner management space requires curiosity, continual self-improvement and seeking out industry best strategies and standards. Thinking outside the box when it comes to alternative frameworks and processes from other verticals can also help diversify your skill set, and lead to an improved PX and CX. Seeking out multiple conversations with expert contemporaries, joining peer groups, utilising SM channels like LinkedIn, and attending industry events are all great avenues to keep abreast of partner management trends.

Both parties must approach expectations with a lens of realism. Setting unrealistic expectations, be it in terms of timing, human capital, or physical resources, can undermine collaborative efforts. Embracing a pragmatic perspective ensures partners align on achievable milestones and avoid disappointment. The timing for project deliverables must be realistic, accounting for unforeseen challenges. Human and physical capital commitments should be transparent, matching capabilities with demands. Staying current with partner management best practices requires ongoing evaluation and adaptability. A foundation of practical expectations fosters a healthier partnership, encouraging sustained growth and mutual success.