More does not equal better

Partner pros often get stuck in a death loop I’m calling —
the pernicious cycle of more.

It’s a death spiral where someone gets caught up thinking
more equals better.

Sure, more
can
equal better, but often
more equals unnecessary.

More automations, more partnerships, or even more budget aren’t your cure-all.

Partner pros, here’s your reminder to keep it simple.

The best solution is usually simple, not easy.

Ask yourself:

What do I actually need to run my team?

What do I actually need to ensure the success of my customer and my partner?

What 20% can I focus on to ensure 80% of my results?

Partner with a hyperscaler

Raise your hand if you want to partner with a hyperscaler!

Odds are, your hand is high in the air.

In Workspan and Partnership Leaders’s
State of Co-Selling Report,
companies shared why they’re partnering with Hyperscalers: for the market reach, access to technical teams, investments, cloud credits, awards & events, and brand awareness.

Though the benefits sound nice, the report also shared that the majority of partners aren’t actually seeing the huge upside advertised.

I went to one of my favorite hyperscaler experts,
Nick Reed Smith
to ask why this happens and what companies can do about it.

Here’s what he said:

Once the decision to partner is made it takes a concerted multi-year effort to execute the partnership well and start generating big returns. You need executive buy in, clear and reasonable expectations, and the willingness to invest for the long term.

Not to mention, showing partner-sourced/influenced revenue is tough.

After our exchange, I came to a new belief:

Investing in a hyperscaler can be valuable, which is why so many companies do it.

But the Pareto Principle never lies. The HUGE benefits are reserved for the 20%.

80% of partners see average results. 20% of partners win big.

If your goal is to see HUGE benefits, you have to be honest about what it’ll take (aka, you can’t set it, forget it, and expect results).

Another win for partnerships

“Buy with Prime” is a new perk for Shopify customers, and it’s a big deal.

Prime members will be able to use Buy with Prime on Shopify to access free delivery and easy returns via Amazon’s fulfillment network.

Two important takeaways from this news:

Amazon and Shopify just strengthened their positions in the market.

Amazon and Shopify are both household names that boast massive ecosystems.

This partnership strengthens Amazon and Shopify’s individual offerings, expands their reach, and most importantly integrates them deeper into the lives of their customers.

Amazon is becoming
very sticky
for anyone who buys or sells through Shopify. And Shopify just became
much easier
to buy from and sell on.

Integrations are tablestakes.

Integrations might’ve been a nice-to-have a few years ago, but today, they’re tablestakes.

Every time a company like Amazon, Shopify, Google, etc. adopts an integration where they spoil buyers with ease and efficiency, it becomes an expectation that all companies offer a similar experience.

Buyers demand it and companies will have to provide.

Read more
about the partnership here.

Stuff you don’t want to miss!

• September 13, 2 PM EST — Successful Tactics for Product Partnerships
  — Join Patrick Hu, Head of Product Partnerships at Amazon (New Initiative) and Scott Pollack (CEO at Firneo) as they tackle what it means to develop successful product partnerships today.
  
• Apply by September 22nd for Firneo’s Certified 8-WeekCohort —
  Learn the frameworks and tactics to excel in every facet of your partnerships role.
  
• September 28, 12 PM EST
  -
  Game Changers: Isaac Morehouse —
  Isaac will join Oana Manolache to talk about how to use content creation to define a category. He’ll share the 3 elements to help you build brand awareness, drive pipeline, and unite your team.
  

Something simple AND easy you can do today

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