Partnerships in eCommerce: How to be a great partner

Technology companies (eCommerce SaaS companies, to be specific) and agencies often have partnership programs that allow both sides to align on how to serve their mutual clients best. The intention is to have a harmonious relationship for sharing leads, generating new business, and working together to support their customers fully. Many companies have dedicated resources who manage these relationships and facilitate marketing initiatives and enablement.?

Why is partnership important??

Partnerships between agencies and SaaS companies are essential for numerous reasons. For the SaaS company the benefits are clear. Agencies act as a massive sales force, validating and championing the product, since we are the ones who recommend the solution to our clients. For agencies, partnerships can be a profitable sales channels for gaining new clients. The partnership also shows merchants that the agency is an expert, and understand the nuances of the platform.?

In my opinion, some of the best eCommerce SaaS partnership programs in the space are Klaviyo , Yotpo , and Dynamic Yield by Mastercard , just to name a few. Having close relationships with great tech partners helps our team provide optimal solutions for our merchants. We're able to align on our client's goals and deliver results for them far more effectively. It's a win-win in most cases.

Focus on a few key partners?

In my opinion, agencies should focus on two key partners per solution. This allows you to be more focused, as well as offer some options for your merchant. Although some of the partners can be considered competitors, agencies needs to present options to their merchants and advise on the best solution for them. After all, if it's not the right solution for meeting the merchants needs, it will increase churn.

We also try to have 2-3 options for merchants of different sizes. Not all SaaS companies work with startups and some do not offer enterprise level solutions. Before taking on a new partner, we try to ensure it's the best solution for our merchants and it fills a gap in our offering.?

Who should benefit most from tech partnerships??

The primary objective for both parties should be the merchant. Providing the best possible experience and solution, that allows merchants to see an ROI, should be the ultimate goal of the SaaS company and the agency. Agencies need to help select the best solution based on the clients needs and goals. While the tech partner should align with the agency on what is most important to the merchant as well.

What makes a great partnership??

Great tech and agency partnerships in eCommerce have a handful key ingredients.?

1. Communication: Both sides need to keep each other in the loop to ensure they are aligned on the merchant's needs and goals. SaaS companies should be keeping agencies updated on new product advancements and releases. While agencies should be keeping partners updated on new services, capabilities and case studies.?
2. Marketing: Willingness to work together to promote and market each other's services to attract new business. Co-content marketing and events are great ways to show support for attracting merchants.?
3. Co-selling: Sharing leads and ensuring the partnership is financially beneficial to both sides. Agencies are suggesting the best possible solutions, while SaaS companies suggest agencies to support their merchants needs.
4. Networking. People want to work with other people that they enjoy working with.?Attending networking events and making friends is a great way to partner with anyone in business.

What hurts a partnership??

Not every partnership is the same. Some aspects that can hurt a relationship:

1. Recommending the wrong solution for a merchant, simply because they are a partner. This leads to a bad relationship and churn for both sides.?
2. Lack of lead sharing. Sometimes one side is bringing in all the business and the other party is not seeing a financial benefit.?
3. Unrealistic expectations. If all of the aspects of a good partnership are met, there should be no expectations.?
4. Not having dedicated resources for a partnership program. It's a lot of work. You can't expect one person to take on partnerships and various other duties that come with it. On the agency side, there should be at least 3 people who take on different aspects of partnerships.

• Sales/Partnerships - the commercial aspect
• Marketing Partnerships - the co-marketing aspect
• Client/Partnerships - someone agency side who recommends solutions

When all of the ingredient above are there, both parties are happy. And even more important, merchants are happy. A great partnership reduces churn, increases revenue and allows all three parties, the agency, the SaaS company and the merchant, to grow.?