Strategic Partner Management: Understanding and Nurturing Different Partner Types

As a Partner Manager, your primary responsibility is to cultivate the partnership network and optimize the Return on Investment generated from these collaborations. In theory, it seems simple, but once you start doing it, you might notice that there are always too many tasks to handle. You simply cannot treat each partner the same way. In this guide, we'll explore a framework to categorize partners and offer insights on how to effectively engage with them.

The problem with partnerships at scale

Hold on a sec… More partners mean more success, right? Not so fast. Picture this: you've got 1,000 partners, and suddenly, you're drowning in tasks. Shockingly, you might end up less profitable than the wizard who's rocking just a handful of savvy partners. It's like having a closet full of shoes – great in theory, but useful only if you have 10 legs.

Ever thought about parting ways with some clients to make space for the ones who truly vibe with your offerings? It’s a bit like Marie Kondo-ing your client list. Those low-end clients, while they may shout the loudest, can be like that one pair of shoes that gives you blisters. In one of my previous companies (thanks, Pareto principle!), 80% of the support tickets were generated by a group that only brought in 20% of the revenue for the company!

The same goes for partnerships. Each partner will need you. They will have questions about billing, your products/services (hopefully), and ideas on how to work together. Each time they take up your time. You should be grateful for every partner you get, but also be cautious of the alternative cost. This is why we propose doing a quick experiment every few months and splitting your partners into 4 tiers:

As you saw, we split them up by the number of leads they deliver, but we also look at their relevance in the market. What do I mean by that? I am referring to companies that have a large network of clients and a lot of market presence. Think Fortune Global 500 companies, think Apple, Google, and Samsung. These are extreme examples, but for every company, the line will be set in a different place.

Now the big question is what to do with this information. Once you have the 4 groups, you should aim to treat each one differently:

KEY PARTNERS

These are the money-makers, the A-listers in your partner parade. They're not just bringing in leads; they're strutting on the market runway, elevating your brand to VIP status.

You need to make sure you have recurring meetings with them, set plans and common marketing activities. Make sure they are happy and know everything there is to know about your brand. Offer them custom training sessions on your products/services.

Make sure your team gives them a priority status (for example, make the sales team at their disposal, connect them with the marketing team, invite other team members to your calls, so they can get to know your company better).

Invite them to your events, both external (conferences, webinars, etc.) as well as internal. Mention your collaboration often and include them in your company slides.

Make them feel like the rockstars they are – because, let's be honest, there's gold at the end of that rainbow.

UNPOLISHED DIAMONDS

Meet your partners-in-the-making – they might be in the club, but they're not quite on the dance floor. They might remember you every quarter or half a year, when they are doing their own reporting, but apart from that - you are not on their radar.

Your first goal is to improve the connection. Make sure to schedule recurring calls (don’t put too much pressure on them at the beginning) and make sure to focus on their needs.

How can you help their business? How can you promote them? Can you connect them with someone? Often this is not even sales-related, but just general networking. They need to see a friend in you.

I would also suggest inviting them to dinner or to your office, so that they can form a connection with you and your company. Remember “jab, jab, jab, right hook” by Gary V? The same principle should be applied here. Give, give, give, receive. It's the dance of forming a connection – two steps forward, one step back, to the rhythm of a blossoming partnership.

Watch out! Some partners might not see the value, no matter how hard you dance. If you notice it, put them on autopilot. A quick connect every few months to keep the partnership spark alive, and who knows, maybe they'll join the dance floor again.

GROWTH HACKERS

These little powerhouses might be small but pack a punch. They're your David against the Goliaths of marketing budgets. Show them some love by offering co-marketing adventures, discounted conference spots, and shout-outs in your articles. They will jump at any chance of doing co-marketing activities, especially when they don’t have to pay for them.

Offer them discounted spots at conferences, invite them as co-hosts on webinars, mention them in your articles and social media. Invite them to contribute to a report and promote them on your page. Maybe you can offer them a training session for their team that will improve one area of their work. Maybe incentivize them with invites to conferences (as attendees).

Let them know they are an important partner and show them love by sharing leads and connecting with potential customers.

DEMENTORS

Ever heard of dementors? They're not just in Harry Potter; they sneak into partnerships too.

These joy-suckers drain energy, like that friend who always brings drama to the party. Manage them like a PRM wizard, sharing mass communication and calling only when the magic is absolutely needed. While it makes sense to keep them in the partnership program (due to the aforementioned “long-tail” effect), you need to keep them on autopilot – minimal effort, maximum distance.

Be open to signals! Some partners might decide to stop being dementors. If you see a shift – more activity, more leads shared – give them the benefit of the doubt. Reinforce that positive behavior and, who knows, after a few months, they might be grooving in a different tier?

What next?

I’ve started this article by saying you should do this exercise every few months. I would like to reinforce this statement. You have to repeat it multiple times. Change is the only constant – people change, situations change, and so do partnership vibes. Every quarter, your partner playlist can look a bit different. Partners will move up, down, cha-cha-cha! Take note of what worked, who boogied up, and who moonwalked down. Why do you think this happened? Were you doing something in the last quarter with some of the partners that you think has brought a lot of benefits? Maybe this is something you should repeat with other partners? Plan time in your calendar for this analysis quarterly and see how it affects your partnerships.

Benefits of a PRM solution

Now, about that secret sauce – a PRM solution! It's like having a magical partner sidekick. Suggesting moves, managing billing, and automating those passive/dementor partners. With this tool, handling a bunch of long-tail partners becomes much easier – increasing your chances of partnership success. Ready to unleash the magic?

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