I speak with founders, sales execs, and partner pros all the time. And I've found that many think about their partner ecosystem one-dimensionally.
Founders are usually very focused on how amazing the product or service is. Agencies and SIs should be super excited to partner so they can leverage the product to strategically benefit their customers.
This is, of course, important. Succinctly recruiting and enabling partners to understand the product value prop is fundamental to a good-performing ecosystem.
But… it's table stakes.
The program value prop is table stakes too
Meanwhile, a vast majority of Partner Leaders I speak with are primarily focused on the value of the program. The emphasis is on the process, criteria, and benefits of the programmatic elements. These are important topics to define, operationalize, and communicate to partners.
However, in my 30+ years working for or with partners, I've found very few really care about referral fees, MDF, tiers, etc. In fact, when they do, it's usually the most mature partner in a mature ecosystem that's looking to differentiate.
And this too… is table stakes.
The value of the partnership itself
Where a lot of organizations fall short — especially early-stage and growth companies — is the most valuable and actionable part of the value chain: the value of the partnership itself. Stay with me here.
Looking at the partnership from the partner's point of view, what is the value from the partnership?
- Will building capability for this partnership allow them to open new accounts?
- Will it offer new revenue streams in existing accounts?
- Will partnering give them tools for improved staff recruitment, retention, and utilization?
- Will partnering give them more "feet on the street" and become a force multiplier for taking the hill together?
These topics are the toughest for partner programs to capitalize on. It requires time to understand the partner's business and to translate the product and program value prop into a partner-centric value prop.
Most importantly, when Sales Leaders get engaged and embrace the value of a collaborative and co-sell approach from an ecosystem-led GTM strategy, magic happens.
This article was originally published on my Substack.