How do you innovate and experiment with new partnership models and formats to gain a competitive edge?

Some of the innovation-boosting benefits of partnerships include: Co-creation and Ideation: Partnerships foster diverse perspectives, combining knowledge for novel product development or problem-solving that one company couldn't achieve alone. Fast-Tracked Research and Development: Resource pooling and shared expertise enable faster innovation than going it alone. Complementary Offerings: Combining products or services provides customers a more robust, integrated solution.

In a GTM Benchmark report, 82% of companies report a significant slowdown in their sales velocity. But check out these stats: Partner-sourced opportunities have a 46% higher win-rate. Partner-influenced opportunities have a 99% high win-rate. Partner-sourced opportunities show an 11% shorter time to close.

To innovate in partnership models, first identify market gaps and potential partners with complementary strengths. Focus on creating synergies through co-created products, joint marketing, or shared technology. Use data to guide the selection and tailor partnerships to customer needs and market trends. Test partnerships on a small scale, using metrics like customer acquisition cost and revenue impact to evaluate success. Iterate based on performance, scaling effective models. Stay open to unconventional partnerships, even outside your industry, for unique opportunities. Encourage a collaborative culture, regularly updating your strategy to stay competitive and innovative.

Partnerships introduce a new dynamic within your business: the idea of cooperation, not competition. Finding the right partner who is strategically aligned with your ultimate objective can unlock tremendous benefits, including scalability, margin effectiveness, and new or enhanced value creation.

Faster lead to close, quicker discovery, and lower costs are the top three benefits of forming partnerships. When you have a partner, you can share knowledge, iterate, and earn faster than if you had to convince someone to join your side. Partnerships always help you grow further.

I love what others have shared, sharing 3 unconventional partnership types that can help in GTM Co-Making: Partner to co-create innovative products that align with both companies' GTM strategies, expanding your product portfolio. Co-Learning: Collaborate on knowledge sharing and training programs to enhance the skills of your combined sales and marketing teams, optimizing GTM efforts. Co-Creative Spaces: Establish creative hubs to foster innovation, generating new GTM ideas and strategies collaboratively.

Co-Marketing: Businesses collaborate to promote their products or services to a shared or complementary audience. Strategies include co-hosting webinars, co-creating content, or co-sponsoring events. Co-Selling: Partnership involves jointly selling products or services, often through offerings like discounts, free trials, or bonus features to attract customers. Co-Development: Collaborating to create new or improved products or services by leveraging the strengths and expertise of both businesses. Co-Innovation: Working together to explore new ideas, opportunities, or markets unrelated to current offerings. This may involve launching pilot projects, joint ventures, or social impact initiatives.

Algunas asociaciones interesantes a considerar: - El Co-branding: sumatoria de marcas - La franquicia: ceder la marca para que otro lo explote o vice versa - Los contratos a largo plazo - Representaciones de marca - Exclusividades Entre muchas otras - Joint venture

Co-marketing partnerships where you collaborate with complementary businesses to co-create content, host joint events, or offer bundled products or services. This can help to cross-promote your offerings and expand your reach. Form strategic alliances or partnerships with businesses that offer related products or services to expand your offering and provide a more comprehensive solution to customers. This can help to increase customer loyalty and attract new customers. Reseller partnerships: Establish relationships with businesses that can sell your product or service to their customers. This can help you tap into new markets and expand your sales channels.

Exploring various types of partnerships offers tailored approaches to use resources and capabilities. Co-marketing enables joint promotion to a shared or complementary audience through avenues like webinars or events. Co-selling involves selling products or services together, often accompanied by incentives like discounts or bonuses. Co-development fosters collaboration to create enhanced offerings by combining strengths and expertise. Co-innovation ventures into new territories, exploring fresh ideas or markets through initiatives like joint ventures or social impact projects. Each partnership type offers unique opportunities for growth and differentiation.

The process that I use is: 1: Research potential partners 2: Understand the partner's needs and goals 3: SWOT analysis to evaluate the partner's strengths and weaknesses. 4: Look for gaps, overlaps, and areas that complement each other. 5: Define the value proposition. 6: Establish clear goals and metrics that align with your business strategy. 7: Choose the suitable partnership model - comarketing, strategic alliance, reseller, distribution, etc. 8: Define roles and expectations 9: Validate with other partners and customers 10: Run small-scale experiments 11: Measure and learn 12: Decide to continue or terminate 13: Plan to scale the partnership 14. Best for last - establish clear communication, governance, and cadence of meetings.

Following a structured process like this for innovating and experimenting with partnerships is essential for ensuring clarity, alignment, and effectiveness in collaboration, fostering a systematic approach that maximizes the potential for success and minimizes risks.

Innovating with partnership models involves a structured approach: research ideal partners, understand their needs, strengths, and weaknesses, and identify synergies. Define objectives, metrics, roles, and expectations. Validate assumptions through small-scale experiments, gather feedback, and measure results. Decide whether to continue based on learnings, and scale accordingly. Effective communication and governance are crucial for successful partnerships.

One of the best ways to innovate and experiment is by collaborating with your key clients and customers. In a B2B context to get started, conduct interviews with the Buyers/Decision Makers from a selected of some of your current clients to understand their key needs and priorities. Once you have done so, then look at ways in which you may collaborate. This could be creating content, conducting events as well as potentially looking at how to create joint and/or complimentary offerings as well as how you might co-promote these initiatives

It's relatively simple to start innovating and experimenting within partnership models. Believe it or not, you probably have or can give something that someone else finds valuable, even if you don't see it the same way. Find who those people are, and see if there's any overlap in ways they could reciprocate. BOOM- beginnings of a partnership.

5 types of partnership programs: - Channel - Ecosystem Each of these programs, when done well, leads to an effective partnership strategy. - Referral - Affiliate - Reseller -

The best practice I'd recommend is: Make it Mutually Beneficial. Clear Value Proposition: What's unique about what you offer to a partner? This is where negotiations start. Shared Risk and Reward: Avoid one-sided partnerships. Explore models with performance-based compensation, co-investments, or shared milestones. Beyond Just Money: Partnerships can offer talent access, brand reputation boosts, or shared innovation pipelines – make sure benefits flow both ways.

The best practices that I deploy are: 1: Align on vision, values, and culture. That doesn't mean agreeing, but alignment is key. 2: Build trust and rapport. 3: Effective communication is key 4: Be flexible and adaptable 5: Embrace experimentation and learning 6: Celebrate success together. 7: Focus on the long-term, as it's rare that results happen quickly in partnerships. 8: Be patient and persistent. 9: Get buy-in and support from Leadership. 10: Be proactive and take the initiative.

In my view, adhering to these best practices fosters strong, enduring partnerships by nurturing mutual respect, transparent communication, and adaptability, essential elements for navigating complexities and seizing opportunities collaboratively.

Engaging in a new business partnership is not dissimilar to dating. It is kinda like business dating! Business you meet for your first date, make sure your potential partner has capabilites and capacity that makes then attractive to your business. You are looking for 1 + 1 is greater than 2 value proposition. The second equally important thing is their partner maturity, that is how many partners do they. they have, and do they have a clear way to share leads and opportunities? Can train you in their product and service offerings? Finally do you get a sense that their culture and mission aligns with yours? Be prepared to walk away after the first date. Partnership offers are ten a penny - do your due dilligence!

Walmart's partnership with Shopify was an innovative win-win alliance for both parties. Here's how: Walmart gained a wider product selection: By opening its marketplace to Shopify sellers, Walmart diversified its offerings, making it more competitive with Amazon and attracting new customers. Shopify sellers reach a broader audience: Shopify sellers gain access to Walmart's massive customer base, allowing them to expand their reach and build brand recognition. This strategic partnership created a powerful synergy that benefits both companies and ultimately, the consumer.

The beacons I regularly use are 1: Nike and Apple partnered to create the Nike+iPod Sports Kit, which allows Nike footwear to communicate with Apple's iPod and iPhone devices to track and share workout data. This partnership combines Nike's athletic footwear and apparel expertise with Apple's strengths in consumer technology and design, offering a unique value proposition to fitness enthusiasts. 2: IBM and Apple partnered to develop enterprise mobility solutions for businesses, combining IBM's expertise in security, big data, and cloud computing with Apple's strengths in mobile technology and user experience design. This partnership enables businesses to leverage the power of Apple devices and IBM's solutions.

Uno de los grandes ejemplos y aprendizajes en los modelos de Go to Market luego del COVID-19 es la complementariedad en la llegada hasta donde el cliente necesita el producto o servicio. las empresas especialidas en ultima milla, a manera de ejemplo Rappi en latinoamerica funcionaron muy bien

These innovative partnerships exemplify the power of collaboration, showcasing how combining distinct resources and expertise can result in value-added experiences for both customers and businesses, ultimately fostering a win-win scenario that drives mutual growth and satisfaction.

A small software company specializing in AI-powered customer analytics might experiment with these partnerships: Consulting Firm Partnership: Offer a bundled service, where the firm's expertise complements the analytics data for clients. Industry-Specific Partner: Partner with an association in a specific sector, offering tailored insights and gaining access to their member base. Co-development: Collaborate with a hardware manufacturer to build devices with their software pre-integrated, creating a more seamless customer experience.

El costo por servir siempre será un validador de las estrategias de Go to Market este permitirá visualizar los costos en los que incurre una empresa de una manera más granular y detallada, a nivel de cliente, producto o canal

El conocimiento es un factor clave que se debe de proteger. Recomiendo siempre los MOU (memorando de entendimiento) y los contratos. También se debe de tener muy en cuenta los registros de marca en los países y las cláusulas de retiro cuando por diferentes razones no se desea continuar para evitar perjuicios posteriores.

Values Alignment: Ensure values align for a harmonious partnership. Clear Communication: Establish transparent channels for ongoing clarity. Long-Term Alignment: Assess if the partnership aligns with long-term goals. Legal Agreements: Formalize agreements for mutual protection. Flexibility: Be adaptable to changing strategies and markets. Measurable Metrics: Define KPIs for data-driven assessments. Risk Mitigation: Identify and plan for potential challenges. Continuous Evaluation: Regularly assess and adjust the partnership. Cultural Fit: Consider cultural compatibility for effective collaboration. Ethical Standards: Uphold ethical practices for a positive reputation.

Think Outside the Box Co-opetition: Could partnering with a competitor on some elements (e.g., R&D, industry standardization) give both of you an advantage while maintaining healthy competition? 'Ecosystem' Partnerships: Explore creating a platform where multiple partners benefit. Think Apple's App Store, where independent developers enrich the value for Apple's customers. Cross-industry Collaboration: Look to sectors outside your own. Could a hospitality company and a fitness brand offer a health-focused vacation package?

When experimenting with partnership models, start by doing things that don't scale. This simply means keeping things manual, high-lift but low-risk, and flexible. Start with a partner who's ready for failure and ambiguity, yet invested deeply to make the partnership work.