A quick recap of the PhD from this week:
- The Partner Moment Has Arrived
- Drive Revenue Together
- Simple, not Easy
- Who Does Your Buyer Trust?
- Trust is the New Data
- PartnerUp #108 - How To Get Fired as a Partner Manager with Jared & Isaac
- Breaking News Roundup: Microsoft Exec Becomes CTO, HP's Business Model, and Cisco Investing $100 Million in Partners
- Connecting your CRM to The Partnerverse by Brian Hattaway
- Prove the Value of Your Channel Program Using 7 Critical Metrics by Andy Drummond
- Howdy Partners #31: The Salesforce Ecosystem - Tech vs. Service Partner Perspectives with Michael Jed Lantis
- Marketing Together #10 - 6 Do's & Don'ts of Partner Marketing You Can't Ignore Logan Lyles
- The PX Factor: How Outstanding Partner Experiences Elevate Customer Satisfaction by Bernhard Friedrichs
- Despite The Economy, Gartner Projects Double-Digit Growth As Companies Find Ways to Do More with Less
- Ecosystem Creator Lab #9: "I Did" Beats "I Should" by Micaela Richmond and Will Taylor
- How To Win Budget For Partner Tech by Randalyn Hill and Micaela Richmond
Retention is a strategic intention
What's the most valuable thing, outside of revenue, that partners are driving on behalf of customers? It's trust!" - Jason Yarborough
I had a convo with Jason Yarborough last week. He told me we have a trust attrition issue in partnerships right now.
If you're cutting partner programs, you're losing trust.
Think about it from a customer standpoint, a revenue standpoint, or an attrition standpoint 🤔.
Trust attrition creates a relationship deficiency.
Yet, relationship retention needs to be prioritized right now more than ever.
Retention is the new acquisition. And retention must be a strategic intention.
If you want to retain customers, you need to realize that it's the partner leader who bestows trust.
When you get rid of a leader, trust goes with them. The partner leader gains trust on behalf of the company.
The company doesn't bestow trust unto the PAM or magically gain it from a partner.
It’s a relationship, through and through.
The next time you think about cutting your partner program, think about the trust attrition that could follow.