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5 Key Questions to Strengthen Your Partner Value Proposition

Knowing the “hidden costs” that partners consider before partnering with you will help you craft a compelling business proposition and minimize objections from the get-go.

Here are five questions to understand about the cost of doing business with you before approaching a partner:

  • Brand.  How much will your company spend on promoting its brand? The more you depend on partners to build your brand, the more expensive it is for them. The less your brand is known, the more challenging and costly it is for a partner to sell on your behalf.
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  • Demand Generation. How will your company generate demand and where does the partner fit in that equation?  The more you take on here, the less expensive it is for the partner.  And, the more your lead generation campaigns include a place for your partners to participate, the greater leverage you get from your channel marketing dollars.
  •  

  • Market Fit. How close is your target market to that of your partner’s existing market, or are you looking to partners to help you break into new markets? It is less expensive for a partner to penetrate an existing market with a new product/service than to engage in evangelical work to open new markets for you.
  •  

  • Product/Service Fit. How does your product/service fit in with the partner’s core competency?  The closer your product/service is to the partner’s core competency, the less time a partner has to spend on learning a new technology or skill set.  The less training or certification required, the less time a partner’s sales and technical people have to spend away from their day job.
  •  

  • Operations. What operational accommodations, if any, does the partner have to make to do business with you? Time chasing orders or returns, time spent finding information, and time devoted to escalating issues is money out of the partner’s pocket.  Making it as smooth as possible for partners to do business with you can enhance your business proposition dramatically.

  • Do you understand the “pay to play” equation for your partners?  Be sure to put those costs in context of your business proposition to them.  Doing so will maximize your opportunity to recruit new partners and ensure a solid fit from the beginning.

    November 8, 2012  ·  

    9 comments so far. (Post your own)

    #2 | On April 13, 2017, marshal jeff said:

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    #3 | On April 20, 2017, Joe MAK said:

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    #7 | On May 03, 2018, Charl Moller said:

    Thanks!
    This article helped me tremendously with my current research into expanding our business by taking on a few partners. We have three tiers of partners to work out and incorporate over the next 12 months. It’s daunting to say the least, but the first step towards greatness is always taken in faith (and a huge amount of research!!). I’m definitely subscribing to your regular Newsletter.

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