Modern business have become focused on three key areas in order to succeed:
- Scalability
- Growth
- Cost management
However in order to deliver better results for less investment they are turning to partnerships to drive revenue and growth.
In this article we summarise the 5 key reasons for investing in Partner Marketing:
1. Extend your reach
Partners open doors to new markets, segments and accounts that you might not reach otherwise. They already have relationships with buyers you want to talk to and vice versa. There’s only so far your sales team can go on their own. Smart account mapping and engagement strategies will help you and your partner extending your reach.
2. Build trust through association
This has come up in recent buyer research and in our Insight series: Trust is the most important currency nowadays. Buyers buy from brands and people they know and trust. Partnering with strong brands that have a good market reputation – e.g. Hyperscalers like AWS, Microsoft and Google Cloud – will benefit your brand by association.
Often the smaller partner does all the heavy lifting in such partnerships as the benefit of brand association is immeasurable.
3. Better customer retention
Today’s buyers want integrated solutions and not siloed tools. Partnerships, especially tech integrations, are key to becoming part of a buyer’s wider ecosystem and will accelerate your product uptake and retention. We’ve also seen great success with a ‘Power of three’ GTM approach that offers tech solutions and implementation out of one hand (think Vendor, Tech partner, GSI)
4. Accelerate pipeline
When Partner Marketing is done right, co-branded campaigns can lead to more impactful demand generation and nurture that can accelerate your pipeline. Make sure to align sales, marketing and partners on campaign goals, KPIs and follow up. A documented strategy and clear communication is important to avoid a disconnect when it comes to follow up or attribution of the campaigns.
5. Account growth
Partner Marketing allows you to grow an account by showing how your solution connects to others in their tech stack. Through joint messaging, educational content and customer storytelling you can help buyers understand how your solution connects to their existing stack and the value of your joint solutions.
Recent research has shown that buyer groups have continued to adopt a more risk-averse approach due to market uncertainty and higher focus on cost management. They have become more selective when it comes to new solutions or vendors. Partner Marketing can help demonstrate how customers get more value out of their existing stack, with integrations or via joint-use cases. Focusing on this message will be make your Partner Marketing impactful.
Want to invest in a Partner Marketing strategy but don’t know where to start?
Get in touch → enquiries@aegamarketing.com