partnership statistics

40 Channel facts, every Partnership Manager should know

5 min read

Jun 27, 2024 4:46:10 PM

The world is ready for more partnerships!

In the dynamic world of B2B, strategic partnerships and alliances are essential for growth and success. Whether you manage partnerships through a platform like Partnerplace or are building your business ecosystem, understanding key industry metrics can provide valuable insights.

We took the liberty of compiling and source-checking a bunch of Partnership-related statistics, that may boost your partnership know-how!

Let's start with partnership challenges:

More than half of strategic partnerships fail due to unrealistic expectations, failure to agree on objectives, and lack of trust or communication. Source: The Art of Strategic Partnering: Dancing with Elephants
73% of marketers consider managing partners a major challenge, especially if it’s not data-driven. Source: Forrester
39% of companies don’t have a formal partner management strategy. Source: BPI Network
45% of executives believe that the biggest challenge in strategic partnerships is keeping them active and mutually rewarding. Source: BPI Network
Despite the growing reliance on partnerships, 39% of companies don’t have a formal partner management strategy. Source: BPI Network

These highlight the significant challenges businesses face in managing and sustaining successful partnerships. To overcome these hurdles, companies have to invest in clear communication, realistic goal-setting, and trust-building measures. Additionally, implementing a robust partner management strategy and leveraging data-driven insights can enhance the effectiveness of partnerships and ensure they remain mutually beneficial over time.

Seeking new partnership opportunities

Still, most decision-makers understand the importance and seek for new partnership opportunities, even consider forming or joining a partnership ecosystem:

84% of companies state that ecosystems are important to their strategy, and 76% believe that partnership ecosystems will significantly change business models in the next five years. Source: Accenture
In 2022, 82% of B2B business leaders planned to add partners, and nearly 70% planned to boost their channel program budgets.
Source: Demand Gen 2022 Partner Marketing Benchmark Survey
96% of B2B leaders expect to increase revenue from their partner ecosystems in 2022, with 32% expecting significant increases. Source: Demand Gen 2022 Partner Marketing Benchmark Survey
The average partnership manager spends around 35% of their time on partner discovery and earns around £38K per year, meaning businesses spend around £13,300 and 584 hours on discovery per person per year. Source: Breezy
While 83% of digital ecosystems are a collaboration between partners from four or more industries, 53% involve partners from six or more. Source: BGC
A survey showed that 76% of business leaders believe partner ecosystems will be the main disruptor to current business models. Source: Hubspot The State of Partner Ops and Programs 2022
34% of marketers believe co-branding or co-marketing partnerships are the most effective way to increase email subscribers. Source: Ascend2
94% of tech executives view innovation partnerships as necessary to their strategy. Source: Forbes
More than 75% of CEOs in the TMT sector rate partnerships as ‘important’ or ‘critical’ to their business.Source: PWC
44% of businesses seek partnerships and alliances, not for sales, but for new ideas, insights, and innovation exchange. Source: Forbes
High-growth brands are three times more likely to use marketing partnerships as part of their overall strategy than no-growth firms. Source: Hinge 2020 High Growth Study
From 2015 to 2021, 179 out of 772 (23%) start-ups that became unicorns were based on partnership ecosystem business models. Source: BCG

However, there are still some hiccups:

Less than half of the ecosystem activities initiated by large corporations in recent years have been successful, highlighting significant room for improvement in partnership strategies. Source: Roland Berger
25% of joint venture partnerships don’t meet or exceed either partner’s expectations but still benefit all companies involved. Source: McKinsey & Company
38% of managers blame failed partnerships on lack of trust and communication. Source: McKinsey & Company

Neverthless, the metrics are clear and the world is ready for more partnerships:

95% of Microsoft’s commercial revenue comes through its partner ecosystem, which grows by an astounding 7,500 partners per month. Source: Forbes
Microsoft formed 9,000 partnerships within one year of setting up its co-seller partner program, generating $8 billion in partner revenue in the first two years. Source: CRN
Deals are 53% more likely to close when there's a partner involved and close 46% faster. Source: Partner Hacker
75% of world trade flows indirectly through channels, partnerships, and alliances. Source: Forrester
49% of organizations attribute 26% or more of their revenue to partners. Source: Hubspot
Word of mouth is responsible for 20-50% of all purchasing decisions, especially for relatively expensive products or new products. Source: McKinsey
Customers acquired through referrals have a retention rate that’s 37% higher. Source: Extole
Customers acquired through referrals have profit margins that are around 25% higher. Source: AMA Journal of Marketing
After seeing a co-branded campaign, 68% of consumers can make buying decisions without speaking to a sales representative. Source: Partner Path
49% of consumers depend on influencer recommendations, and 40% have purchased a product after seeing it on Twitter, YouTube, or Instagram. Source: Influencer Orchestration Network
A recommendation from a trusted friend is up to 50 times more likely to result in a purchase than a low-impact recommendation. Source: McKinsey

The numbers highlight that effective partner ecosystems not only boost revenue but also accelerate deal closures and enhance customer retention and profit margins. As the world continues to lean heavily on collaborations and referrals, the potential for growth through strategic alliances remains immense.

Next, let’s delve into how customer behaviour benefits your strategies. Make sure you understand these insights!

Customers referred to a brand are four times more likely to make a purchase. Source: Extole
Customers referred to a business have a 16% higher lifetime value and an 18% lower churn rate compared to those not referred. Source: Wharton
60% of customers tend to spend more on purchases from brands they are loyal to. Source: Marigold Global Consumer Trends Index 2024
Customers who are brand advocates or are referred make more frequent and higher-value purchases, with their average order value being 150% higher than that of other customers. Source: Extole
Customers referred to a brand are up to five times more likely to participate in referral programs, creating a positive feedback loop that continually attracts more customers through social approval and recommendations. Source: Extole
83% of satisfied customers are willing to refer you to their friends, but only 29% actually do. Source: Texas Tech University
High-growth brands are three times more likely to use marketing partnerships as part of their overall strategy than no-growth firms. Source: Hinge 2020 High Growth Study
63% of companies use co-seller models to give their employees more time to focus on other tasks, while 59% do so to leverage highly skilled sales and marketing support. Source: Concur
77% of companies in co-selling partnerships see a direct or indirect increase in profits. Source: Concur

Referred customers exhibit higher purchase likelihood, greater lifetime value, and lower churn rates. Their loyalty drives increased spending and higher average order values, creating a robust feedback loop through referral programs. Despite the high willingness to refer, there remains untapped potential in encouraging customers to act on their satisfaction. Another opportunity is the use of co-seller models and marketing partnerships - these two see significant benefits, including increased profits and efficient resource allocation. The rest of fact-checking and thinking is up to you!

Hopefully, you were able to get some useful facts out of this compilation of partnership (-related) stats. If you ever wish to step-up your partnership game, we are here for you.