2024 requires strategic planning with your partners!

The partnerships industry is revolutionizing industries, with many companies adopting a partner-first approach (which I love). With the influx of new partnerships, the need for strategic planning with your partners is undeniable. All indirect sales channel teams can incorporate partner business planning into their goals for the new year. Impartner's Business Planning solution can empower your organization to navigate this dynamic terrain effectively.?

The Rise of Partnerships?

The partnerships industry has been on an upward trajectory, driven by digital transformation and the shift towards collaborative business models. The numbers tell the story:?

• The global partner relationship management market size is expected to expand at a compound annual growth rate (CAGR) of 16.2% from 2021 to 2028: The partnerships industry has been growing and analysts anticipate growth to continue over the next decade.?

• $6.67 Billion in 2021: The global partner relationship management (PRM) market was valued at $6.67 billion in 2021 reflecting a strong upward trend.?
• 90% of top sales organizations rely on partners: CSO Insights found that 90% of top sales organizations leverage partner channels to achieve their revenue goals.?

The above statistics make it abundantly clear that partnerships are booming, but with great opportunities come great challenges. Navigating the complexities of partner programs requires a well-structured approach, and this is where partner business planning comes into play.?

The Importance of Partner Business Planning?

Effective partner business planning is the foundation upon which successful partnerships are built. So why is it so important??

For one, it ensures that both you and your partners share a clear understanding of objectives. This alignment minimizes misunderstandings and fosters trust within your partnership.??

It’s also no surprise that partnerships often involve multiple moving parts. A well-crafted partner business plan provides a roadmap, outlining the strategies and tactics needed to reach your shared goals. And, with limited resources, it's essential to allocate those resources judiciously. Business planning helps ensure that your marketing, sales, and support efforts are directed where they matter most.??

Finally, it’s important to note that a business plan is not static; it's a living document that allows organizations to track progress and adapt to market changes, making it easier to capitalize on emerging opportunities. Success lies in planning ahead and ensuring that the decisions you make now will affect your success in one, three, five, and ten years.?

Make Partner Business Planning Easier??

Impartner's Business Planning solution is a powerful tool to maximize the potential of your indirect sales channels. It is not just a platform; it's a strategic enabler. Our platform offers a centralized space for you and your partners to collaborate on business plans offering a level of transparency that encourages communication and alignment.??

In order to make informative decisions, you also need to use real-time data and analytics to prove the effectiveness of your strategies. Impartner’s Business Planning solution offers automated and configurable tracking and targeting of selected KPIs and partner activities. Tailor your business plans specific to your partner, reseller, and distributor needs with customizable templates and scenario planning to make more informed decisions.?

Business planning is the linchpin of thriving partnerships, ensuring alignment, focus, and adaptability. It’s an ongoing process, a shared commitment to the success of your partner relationships.?

As the partnerships industry continues to surge, your indirect sales channels can be your greatest asset. With the right strategic planning in place, you can harness this potential and propel your business to new heights. Embrace the art of partner business planning and watch your partnerships flourish in this exciting era of collaboration.?