Building Your Top-Line with Sales Partnerships
??Randall Craig
Advisor on business growth, marketing strategy, thought leadership, and digital. Author. CEO at Braintrust Professional Institute. Hall of Fame business speaker.
How successful have your partnerships been in building your top line? If you're like most organizations, it is often a hit-or-miss... but does it have to be?
The key to a successful partnership program is to recognize that there has to be something in it for your partner – not just for you. In the case of sales partnerships – that is, partners who "bring" business to you – the seven questions that you must successfully answer are as follows:
Of course, a partnership program offered by a SAAS vendor will be very different than an informal referral arrangement between an accountant and a lawyer. But the need to answer these questions remains the same.
This week's action plan:
Re-look at your sales partners: how much business has each brought in during the last 24 months? If they are not performing to your expectations, is it their fault (eg the questions have not been answered properly), or is it yours (not performing to THEIR expectations)?
This week, choose at least one sales partnership, and reach out. Ask a few questions about their needs, and then begin the process of strengthening the relationship.
Partnership insight: Many partnership programs are set up with tiers: as you "perform" and do more work, then the amount of investment that they make in you (profile, education, direct support, commissions, etc.) similarly increases.
Your thoughts?
Contrarian views are welcome.
-Randall
[Content Authenticity Statement: 100% original content. No AI was used in creating this content.]
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This Month's Topic: Building Your Business with Partnerships
Partnerships are tremendously valuable in your business growth strategy. They can be used for virtually anything: delivery in areas you don’t have experience in, to help cover an operational blindspot, for referrals and direct growth, to complete a product offering, affiliate deals, gainsharing, licensing… need we say more?
So let’s take the hour to talk strategy and tactics on developing win-win partnerships:
?? The decision to build it internally… or engage a partner
?? Building external partnerships
?? Strategic alliances and joint ventures
?? When things don’t go as planned
??? Date: Tuesday, December 3 at 12 noon ET
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