Strategies and tactics for building strategic partnering excellence
The strategy "Building strategic partnering excellence" aims to maximize the value derived from partnerships. It starts by evaluating existing relationships. This involves categorizing partners based on contributions, scheduling meetings to understand their needs, and reviewing performance metrics to identify gaps. Establishing a partner satisfaction survey and conducting SWOT analyses for key partners are also crucial. Documenting insights and sharing findings with stakeholders help in developing plans to address gaps.
Optimizing communication and collaboration is the next step, which includes creating a dedicated partnership management team and developing a communication plan for regular updates. Using collaborative tools and hosting quarterly forums enhance communication. Regular performance review meetings and joint marketing efforts are encouraged.
Enhancing the value proposition for partners focuses on aligning mutual goals and co-creating solutions. Offering training and recognition programs, conducting market research, and establishing loyalty programs are some tactics. Providing shared marketing resources and financial incentives tied to performance metrics are also essential to this strategy.
The strategies
⛳️ Strategy 1: Evaluate existing partnerships
- Categorize all current partners based on their contributions and potential impact
- Schedule meetings with key partners to understand their needs and challenges
- Review the performance metrics of each partnership to identify gaps
- Establish a partner satisfaction survey to gather feedback
- Identify underperforming partnerships and analyse reasons
- Create a SWOT analysis for each key partner
- Rank partners based on strategic importance and ROI
- Document insights and create detailed reports
- Share evaluation findings with internal stakeholders
- Develop a plan to address identified gaps and opportunities
⛳️ Strategy 2: Optimise communication and collaboration
- Establish a dedicated partnership management team
- Develop a communication plan for regular updates with partners
- Implement a joint planning process for initiatives
- Use collaborative tools for better information sharing
- Create a portal for partners to access resources and support
- Host quarterly partner forums and workshops
- Set up regular joint performance review meetings
- Encourage partners to participate in joint marketing efforts
- Provide clear, consistent points of contact for partners
- Document and share best practices in partner collaboration
⛳️ Strategy 3: Enhance value proposition for partners
- Identify mutual goals and ensure alignment
- Co-create value-added solutions or services with partners
- Offer training and development opportunities for partners
- Increase visibility for high-performing partners through recognition programs
- Establish a loyalty or rewards programme to incentivise partners
- Conduct joint market research to uncover new opportunities
- Offer shared marketing resources and initiatives
- Develop joint customer case studies and success stories
- Create financial incentives tied to performance metrics
- Set clear, achievable goals and regularly review progress with partners
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
