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Blinded by the shine
Last week Scott Pollack, Co-Founder & CEO of Firneo, shared on LinkedIn the 7 P’s of partnership creation:
Proper Partner Prioritization Prevents Piss Poor Partnerships.
The most common mistake that Partnership Managers make is going after big, shiny logos instead of getting tight on their IPP.
It doesn’t matter how big or well-known the partner is; what matters is that you are aligned on the value you can bring to customers, and how you’ll get there.
Partner with those who are as hungry as you are to create customer champions. Focus on building a better together story that can be proven with data like:
- Account overlap
- Market presence
- Win rate
- Deal size
- Revenue potential
Pro tip: Try scoring your potential partners to ensure you’re spending time and resources on the right relationships.
How to find your Ideal Profile Partner (IPP)
One way to find your IPP is by focusing on a framework Judd Borakove, Co-Founder and Co-CEO of Red Monkey Consulting, shared at the Nearbound Summit called the 5 T’s:
- Terminology: What does partnering mean for your GTM strategy and how can partners help your Sales team close more deals?
- Tools: What platforms and data are going to help you build an efficient motion and relationship?
- Tactics: What are you going to do and how are you and your partner going to win together?
- Team: How are your Sales, Marketing, Product, and Customer Success teams working? What’s the current GTM strategy? How do you plan to align all GTM teams?
- Target partner: Who is your IPP and how can you build a win-win relationship? What are your overlap and common open deals?
You can then apply these 5 T’s to Reveal’s Directory to find, prioritize, and connect with the right companies.
Connect with your IPP in Reveal
Check out the full session with Judd to dive deeper into how to focus your partner program. 👇
Network magic
If Scott Leese and Mac Reddin’s Nearbound Summit session taught us anything, it’s the importance of networks.
Adam Pasch has been building an incredible community of GTM pros in his speed networking sessions, and people can’t get enough.
Shoutout to Adam, the Give-first Wizard himself, for organizing space for leaders to learn and connect.
And be sure to reach out to Adam if you’re interested in joining the next sessions.
Stuff you don’t want to miss!
- Nearbound Summit 2023 Recordings—The future of GTM is Nearbound. Watch the recordings to hear how B2B leaders across departments unite with Nearbound strategies and tactics. Listen here.
- January 25th— CEO Summit —Join Pavilion and many more companies to be part of expert-led educational sessions, covering top-of-mind issues for CEOs and Founders. Learn about the latest sales insights, building a pricing strategy, and co-selling. Register here.
- Feb 5-7th in Miami—Impartnercon 2024—Partnerships are the future of growth. Join partner leaders to learn what it means to build the future of business, together. Register here.
- March 19-20th—Affiverse’s Amplify Summit—Join them for a 2-day virtual event to help affiliate businesses amplify their performance. Learn about digital, partnership, and affiliate marketing. Register here.
7 P’s + 5 T’s = More W’s
Share this NbD with someone who needs the winning formula.
