“Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.” – Peter Drucker
A strategic partnership is typically a long-term relationship with common business goals. Your strategic partners can be manufacturers, distributors, resellers, franchises, engineering, marketing, product development or other types of partners that are critical to your business.
Some examples of partner goals may include:
- Sell ‘x’ of strategic partner’s product.
- Develop a new marketing campaign for product launch ‘abc’ that generates ‘x’ results.
- Reduce product distribution.
- Co-develop product ‘xyz’ and deliver in market during this fiscal year.
- Develop a joint go-to-market plan that increases market share by ‘x%’.
- Increase profitably of ‘xyz’ product/service
- Streamline business process ‘xyz’ to reduce product delivery times by ‘z%’.
Developing strategic partner plans with your most important partners will help ensure alignment and the support required for your organization to accomplish your financial goals.
Partner goals help define “what we do”.