We have talked about correctly defining the mid-market and more effectively segmenting the customers in the earlier posts (see the First in this series and the Second in this series). Today, we will be exploring how to gain a better understanding of the partner ecosystem and correctly target business propositions.
- Organizations often fail to fully understand their Ecosystem of Partners. They try to reach the customer through a broad ecosystem of partners, but don't do a good job in differentiating between the different categories of partners - nor do they develop programs or materials geared to specific types of partners. For example, in the bottom tier of the mid-market, some partners may be geographically focused - they have a storefront, or an office that serves a local, regional customer base across multiple industries. Or they may only serve small companies in a specific broad category, like automotive. In the middle tier, partners are frequently categorized within a broad array of Value Added Resellers, Independent Software Vendors or Solution Providers. They can also be geographically focused. Finally, at the top, some partners can be nationally or internationally focused players such as large Value Added Distributors. Each type of partner, like the customers they serve, has very different needs, and the ecosystem of partners can vary greatly by size, geography and segment. (For more information on managing your alliances effectively, please see Improving Alliance Marketing).
- Companies must also provide their partner ecosystem with the Compelling Business Propositions that will make them want to consider working with their firm. Most marketing departments understand the requirement that a value proposition clearly align with a target customer segment's needs. On the other hand, few take the time to think through the financial, marketing, operational training and management needs of their partners and craft a business proposition that aligns with these needs, creating strong incentives for partners to work with your organization instead of a competitors. Needs can vary greatly depending on the various partner type - and different types of partners require business propositions tailored to each type. Ignore this, and partner recruiting and partner retention will become a painful drain of time and resources.
Coming next: Creating compelling value propositions.
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