How do I build strategic partnerships that actually deliver value?

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Building effective partnerships

Treat partnerships like projects with clear objectives and measurable outcomes. Start with mutual value and a small scope to test the relationship.

Steps to form productive partnerships:

  • Identify complementary partners that access your target customers.
  • Define shared goals (leads, distribution, co-marketing) and success metrics.
  • Create a pilot agreement with responsibilities, timelines, and reporting.
  • Ensure executive sponsorship and a single point of contact on both sides.

What to include in a pilot:

  1. Clear proposition to customers
  2. Measurement plan (leads, conversions, revenue)
  3. Communication and escalation process

Scaling partnerships

Scale only after pilots show clear ROI. Automate lead handoffs, co-branded materials, and reporting to reduce friction. Consider revenue sharing or referral fees aligned with outcomes.

Red flags to avoid

Vague goals, mismatched incentives, or lack of accountability often doom partnerships. Keep the initial scope small, measure rigorously, and cancel or renegotiate if performance lags.