The success of any go-to-market (GTM) partnership hinges on a shared belief that two companies, working together, can achieve more in the market than they could separately. Even when both partners are committed to this vision, challenges can still derail the partnership. Internal issues like lack of clear planning or overpromising can create friction, while external factors such as market shifts or logistical difficulties (especially during a pandemic) can add complexity.
To uncover how organizations overcome these challenges and nurture successful alliances, Michael Latchford, VP of Strategic Alliances and Partner Marketing Services, spoke with Joseph George from Hewlett Packard Enterprise (HPE) and May Mitchell from iboss. Here are a few essential takeaways:
1. Invest in Thoughtful, Comprehensive Planning
Clear expectations are crucial from the start of any partnership. Both parties should agree on what they hope to achieve and how their contributions will complement each other. This honest, upfront communication creates a solid foundation for the partnership.
Joseph George from HPE emphasizes the importance of asking specific questions early on: “What exactly are we trying to achieve? What customer challenge are we addressing? What goals does each party have?” This clarity ensures both sides feel they’ve gained something by the end of the partnership.
Once the goals are clear, break them down into manageable short-term objectives. May Mitchell from iboss adds, “Before we even announce a partnership, we want to set realistic goals for the first 90–100 days, or even for the first year.” This approach helps to focus on achievable milestones and avoids getting lost in long-term possibilities that may be out of reach.
2. Assemble a Dedicated, Cross-Functional Team
A partnership is only as strong as the people behind it. Having the right team in place is key to overcoming obstacles and keeping momentum. This includes securing buy-in from key stakeholders across various departments. Leadership is critical, too, as these individuals will guide the project, make necessary adjustments, and keep things moving forward.
As Joseph George points out, successful partnerships often have someone overseeing the alliance who can step in when challenges arise and help “liberate” progress. Both parties should also designate a “tiger team” — a dedicated group from both organizations that will work closely together during the launch phase. May Mitchell emphasizes, “There should always be one person from each side driving the partner program, and they should build a cross-functional team to handle launch activities.”
3. Track Early Wins and Build Momentum
Tracking early successes is crucial for maintaining momentum and refining the partnership over time. May Mitchell stresses the importance of setting clear measures from the start and tracking progress with scorecards. These scorecards could include business goals, sales training, customer adoption, marketing efforts, and operational efficiencies. Regularly revisiting these metrics helps teams stay aligned and make adjustments as needed.
Joseph George echoes this sentiment: “It’s essential to have clear metrics, whether through a scorecard or dashboard. Reviewing these metrics on a monthly or quarterly basis helps us understand what’s working and where adjustments are needed. If we miss a target, we assess whether the strategy needs tweaking or if we should shift focus entirely.”
Conclusion
Building successful partnerships is not without its challenges, but by focusing on clear planning, assembling the right team, and tracking progress through measurable goals, organizations can significantly increase their chances of success. Thoughtful preparation, transparent communication, and regular assessment will help navigate obstacles and keep partnerships on track, ensuring both parties achieve their desired outcomes.
For more expert advice on partner marketing and alliances, explore additional insights from industry leaders.
