Ecosystem Week 2022 starts tomorrow
How do you choose partners?
Take it from a large and successful partner program.
Box has two crucial criteria for choosing partners: alignment of values and success in adjacent ecosystems.
The key question they ask while selecting partners is this—is this a person/organization they can put their trust in and connect to their most important customer? To ensure this, they evaluate the culture and values of potential partners, starting from their vision and mission to their commitment to diversity, environment, and more.
Both criteria are aimed at compatible growth overtime.
Business models and strategic partnerships
While I was reading Box’s approach to choosing partners, what stood out to me was how they defined “alignment.”
Box’s partner leaders looked at their business model, and defined their values around it — given our business model, what do we need to prioritize?
Box’s business model is subscription based (as are most SaaS companies), which means that customer retention matters immensely.
Retention = TRUST
Forging strategic partnerships begins with understanding your business model and clarifying your values — what makes your business function, and how can partners add to that?
Resource of the Day
Want more case studies like the one above?
Check out Kiflo's case studies including, but not limited to Crossbeam, Freshbooks, Drift, Zapier, and Monday.
Retention = trust
Is there a great partner-client relationship you want to keep adding value to? Why not send them the PhD?
EW22 - STARTING TOMORROW!
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