For example, we found that most of our current (and ideal future) customers were leveraging Salesforce solutions like Service Cloud and Tableau. We partnered with Salesforce to provide greater social media control and empower our customers with a 360 view of customer interactions and data–all in the tools they know and love. In the age of the product suite, partnerships are a cheat code to level up your business value.
You’re likely not going to partner with your direct competitors. But no matter what you’re selling, there’s a product or service someone else offers that’ll make yours even better. Think about your current and ideal customers. Figure out what else they need. Find the businesses that are meeting those needs and explore ways you can help each other.
Another thing to consider is complementary markets. ig data There may be another business that solves your customers’ needs, but if they’re going after a completely different segment than you are, it won’t work out. If your business is aimed toward enterprise manufacturing companies and a potential partner is pursuing mid-sized restaurant chains, it’s not going to be a good fit—no matter how symbiotic your products seem.
Mutual benefit
It should go without saying that both partners should stand to benefit from your efforts. It’s likely that one partner may be more invested or have more to gain from your partnership, but everyone needs to get something out of the deal. An uneven partnership is destined to fail.
So you’ve picked your partner. What comes next? Navigating partnerships can be tricky but with a solid foundation, you can set yourself up for success.