There are many business partnerships in the market, but some are more credible than others.
One way to gauge credibility is to recognise that successful alliances require solid investment from both partners as stakeholders in the relationship.
Investment comes in a number of different forms e.g:
- Executive Sponsorship.
- Both companies have dedicated senior executives to sponsor and drive the alliance.
- Technology expertise.
- Enablement and training of each parties technology, product(s) and services.
- Sharing knowledge.
- Proprietary knowledge is shared at a deep level between employees of both firms under controlled conditions and with appropriate non-disclosure agreements in place.
- Joint solutions.
- Significant investment is made in the development of joint solutions that both companies can take to market.
- Strategic partners with mutual skin in the game will typically invest significantly in people resources dedicated to the alliance programme across the major markets, segments or territories.
- Targeted demand generation campaigns, industry events, analyst briefings, and market communications including on social media channels requires specific focus and alliance funds.