What is partner business planning?
Partner business planning is when you and your partners meet to set shared business objectives, your KPIs, and develop strategies to achieve these goals. This plan serves as a roadmap to align your business goals, target markets, resources, and sales efforts with your partners.
Imagine you’re a cybersecurity firm and you’ve just onboarded a new partner who specializes in secure cloud services. For your partner business planning, you’d sit down with them to outline mutual goals. Maybe you’re aiming to expand into a new market, or perhaps you’re launching a new product. The plan could include targets for lead generation, strategies for cross-promotion, MDF fund allocation, or plans for co-branded marketing activities.
Partner business planning typically involves:
- Goal setting: Defining common objectives, such as revenue targets, customer acquisition goals, or expansion into new markets.
- Resource planning: Identifying the resources needed to achieve these goals, such as personnel, budget, or marketing materials.
- Strategy development: Formulating strategies to achieve these objectives, such as sales tactics, marketing campaigns, or training programs.
- Review and evaluation: Regularly reviewing the plan’s progress and adjusting it as needed based on performance, market changes, or new opportunities.
Partner business planning is crucial as it helps both you and your partners work in sync, leveraging each other’s strengths and resources for mutual growth. It also drives true partner engagement, as it shows your partners that you’re invested in their long-term success.