Partnerships are an increasingly important growth strategy in the B2B world, which is why March’s Peer Huddles at CMO Huddles focused on the evolving landscape of effective collaborations. These sessions brought together CMOs who unpacked the complexities and opportunities inherent in modern partnerships.

Here’s a concise yet compelling look at some of the collective wisdom distilled from these Huddles.

Huddle 1: Transforming Partnership Dynamics via Co-Selling

This Huddle was led by Chip Rodgers of Workspan, who illustrated the shift from traditional re-selling models to a co-selling paradigm where partners collaborate closely, sharing strategies and resources (also known as “Ecosystem Partnering”).

This model enhances deal influence through unified sales teams and maximizes potential opportunities by leveraging shared technologies like interconnected CRMs.

Key strategies discussed include:

• Customizing GTM support to align with each partner's unique goals
  
• Navigating challenges such as diminishing tracking capabilities and increasing ad costs
  
• Shared funding for marketing initiatives to extend budgets and deepen trust among potential clients
  
• Addressing the complexities of selling highly technical products through less technical partners via educational programs and involving technical experts in sales discussions.
  

Huddle 2: Channel-First and Robust Connections

The shortest distance to a new customer is an existing relationship. How do you know you’re a channel-first company? Over 90% of your sales go through partners, you have dedicated senior staffers, and partners who are initiating more than 60% of new business.

This method emphasizes integrating partners into all aspects of business, from sales strategy to product development. The important aspects of a channel-first strategy include:

• Creation of joint product solutions, leading to tailored offerings that directly meet customer needs and showcase the strength of the partnership
  
• Structured agreements such as memorandums of understanding that clarify roles and responsibilities
  
• Regular reviews of these agreements to keep the partnership aligned and responsive to market changes
  
• Cross-business exposure (i.e. Your CEO meets their Sales team, and their CFO meets your customers)
  

Huddle 3: Strategic Collaborations with Industry Giants

Partnering with large industry players involves navigating complexities like bureaucratic delays and requires building strong relationships with key decision-makers to align efforts.

One of the benefits that makes it all worth it? Substantial investments by big players can support broader marketing strategies and significantly stretch limited budgets.

Keys to successful large-scale partnerships:

• Identify and build relationships with the decision-makers to gain alignment and speed up approvals
  
• Partner with companies that share your customer values
  
• Mutual understanding and continuous engagement, including regular business reviews and open communication channels
  
• Event partnerships for cost-sharing and expanding audience reach
  

Conclusion: The Art of Partnership

A month of Peer Huddle insights leads to this: Successful partnerships are built on a foundation of strategic alignment, creative adaptation, and a deep commitment to mutual benefits. With the right approach and commitment, partnerships can significantly amplify business outcomes, turning collaboration into a powerful growth engine. For those looking to explore the full depth of these insights, joining CMO Huddles is the next best step.

Written by Melissa Caffrey