According to The Association of Strategic Alliance Professionals, ‘research has shown that upwards of 50 percent of alliances fail when not properly managed.’ While these alliances are one of the most effective ways for any brand to grow, there needs to be a recognition of the time and effort it takes to manage and strengthen these partnerships. For service providers, these relationships are a way to unlock new services and benefits for your customers, increase your value, and differentiate yourself from your competitors. But not every company treats partnerships with the same dedication, commitment, and respect.
Today, we will assess how an organization can determine whether its potential partner of choice is genuinely “partner-friendly.”
What Does it Mean to be Partner Friendly?
Countless companies are open to launching a partnership with other brands. However, simply allowing a partnership isn’t the same as passionately contributing to it.
A vendor or business that’s “partner-friendly” takes specific measures to make partnerships a core component of its ideals, strategies, and goals. Partner-friendly companies invest in their relationships, helping them grow and contribute to their success. A partner-friendly brand is:
- Committed: Great partners take an active role in ensuring the relationship works. They’re willing to put the effort in, take risks, and demonstrate dedication to ensuring the partnership benefits both sides.
- Supportive: Partner-friendly brands are supportive. They offer their partners multiple levels of guidance, assistance, and creativity. They’re always on hand to answer questions, deliver valuable resources, and invest their time and effort into partner companies.
- Rewarding: A partner-friendly vendor knows success for its partners also translates to success for their team. As such, they commit to making the relationship as rewarding as possible. They think ahead when planning incentives and developing innovative ways to grow the relationship.
- Knowledgeable: Partner-friendly brands clearly understand the industry they’re working with, and they know how to tailor their services to suit the needs of the end-users of their partners. They should offer access to the expertise you need to thrive in your partnership role, helping with branding, marketing, and sales.
- Caring: A partner-friendly company cares if a partnership succeeds or fails. They check in with partners regularly to ensure they’re achieving the right results. They commit to relationship management, build rapport with team members, and work on keeping motivation and morale levels high.
- Inspirational: Great, partner-friendly companies know what it takes to make their partners successful. They inspire partners to achieve the best results by giving them access to motivational guidance and crucial resources and tools. They’re open, clear, transparent, and committed to constant communication.
- Resilient: Truly partner-friendly companies know that issues and challenges can emerge in any industry or environment, but they don’t let these problems hold them back. They’re innovative, resilient, and ready to adapt according to the needs of their partners.
Choosing a Partner-Friendly Company for Growth
Partner-friendly companies are experts at building strong relationships. They don’t just enable partners to join their team; they work on transforming each connection into a value-added opportunity. A partner-friendly company is a catalyst for transformation and business growth, committed to helping organizations achieve their goals and unlock new opportunities.
When you’re looking for a partnership, ask yourself how invested your partner will be in facilitating your success.
Geomant is committed to being a partner-friendly company that delivers consistent support, guidance, and creativity to our connected brands. If you want to discover what it’s like to work with a partner-friendly brand for yourself, contact Geomant today.