The Value of Partnerships

The Value of Partnerships

Written by: Paul Flannery

October 26th 2018

Regardless of the industry in which your business operates, having someone on your side in the form of a strategic partner will benefit your company. A strategic partnership will not only give you a competitive advantage, but also an opportunity to access a broader range of resources and expertise. This means that the partnership can offer clients distinctive skill sets and product lines that are different from the competition.

There are many different types of partnerships in the modern business world. For our purposes, we are going to focus on Partnership Groups and how they provide value to the distributors and manufacturers that join them.

The concept behind this partnership is to bring distributors and manufacturers together so that both groups can leverage a connected platform to achieve maximum selling/buying power. As a manufacturer, this type of partnership streamlines how your products are sold. Your business is now marketed by the channeling partner to a network of dealers, making for an easier and more direct selling process. In turn, distributors within this group (after being qualified by the channel partner) have access to the best volume price points in the industry.

There are a lot of companies who can act as intermediaries between businesses. But what makes one partnership group better than others? Added Services.

When considering joining this type of partnership, make sure that you are looking for more than just products. The best partnership groups have the right business processes and technology in place to create a collaborative environment. They also offer marketing services, tailored to your business, at a rate that is discounted compared to outside marketing agencies. Ideally, these services are tested and modified to maintain a competitive edge for your business. If you’re looking at a partnership that does not have these add-ons, consider the additional cost and extra lines of communication that are involved in having to manage an additional marketing service.