In today’s competitive landscape, partnerships are a powerful way for companies to expand their capabilities and provide greater value to customers. But not all partnerships are created equal. Success hinges on identifying complementary partners, building trust, and maintaining control of the client relationship. 

Here’s how to make partnerships work for your business.

Finding the Right Partners

The best partnerships begin with alignment – in services, values, and goals. Here are key steps to identify the right fit:

  • Look for natural add-ons. If you listen close enough, your clients will reveal opportunities for you to partner with another company. If your client asks for a service that you don’t provide but aligns with your core offerings, it’s worth exploring. For example, at Liger, moving into marketing technology was a logical extension of our work in marketing – a close cousin that expanded our ecosystem and provided fertile ground for our marketing strategies to grow.
  • Build on trust. Trust is everything. Your clients trust you, and you need to trust anyone you refer them to. A poor referral reflects on you and can jeopardize your relationship with your client.
  • Work your Rolodex. Use your professional network to find trusted recommendations. As the saying goes, it’s six degrees of separation – or less. You likely have connections on, say, LinkedIn who can help you push the boundaries of what your company offers. A strong network connects you to the right experts quickly.
  • Gut-check your options. Early interactions matter. If a potential partner misses meetings or fails to follow through, heed the warning signs. Maya Angelou’s advice applies here: “When someone shows you who they are, believe them.”

Evaluating Partnership Opportunities

Once you’ve identified potential partners, assess them critically.

  • Complementary expertise. A good partner delivers services that complement yours. Make sure they can operate within your sphere. For example, if you’re working with Fortune 500 clients, make sure that any partner – but particularly a mom-and-pop shop – understands how big corporations work. For example, while your partner might insist on 30-day payment terms, big corporations might not pay for 60 or 90 days – or longer if there’s an issue with the purchase order. Aligning on how this cashflow will work between the organizations is paramount.
  • Start small. Test the relationship by tackling a tangible client problem together, rather than getting over-enthusiastic and signing a new partner up for multiple projects. Testing the waters with a small, concrete project is a practical approach that can reveal whether the partnership will work over the long term. Potentially use this as an opportunity to do a “bake off” between two partners on different customer project or accounts to see which one clicks.
  • Style and fit. Style matters as much as skill. Does the partner handle client interactions professionally? Are they aligned with your company’s way of doing business? Pay attention to how they talk about others they work with. For example, if they refer to their own partners as “vendors” or “contractors,” chances are they don’t see them as true partners. They might not see you that way, either. 
  • Responsiveness and accountability. Don’t rely solely on agreements or initial conversations. Stay involved in all client interactions and make sure things are going according to plan. Insist on clear deliverables, adherence to deadlines, and proactive communication. Partners who own their mistakes and strive to make things right are invaluable.

Best Practices for Successful Collaboration

To ensure that partnerships enhance your business and customer experience:

  1. Communicate clearly. Set expectations right up front. Whether you’re talking about deliverables, timelines, or roles, clarity prevents misunderstandings.
  2. Stay involved. While you don’t need to micromanage, staying close to the primary contact means you maintain control and visibility into the work that’s being done in your name. Review all work and stay in the loop at the beginning, especially on critical projects.
  3. Use partners strategically. Partnerships allow you to scale without increasing overhead, providing expertise and capacity without the long-term commitment of full-time employees. 
  4. Measure success. Evaluate partnerships qualitatively and quantitatively. Do partners deliver on their promises? Are they proactive in addressing issues? Are client outcomes improving? Do your partners invest in you the way you’re investing in them – are they bringing you new business, too? After all, success should benefit both parties, not just one.

Navigating Challenges

No partnership is without risk. Some common challenges include:

  • Mismatched advice. If a partner’s recommendations don’t align with your strategy, it can create confusion. Maintain oversight and provide “translation” between your client and your partner to ensure the client’s needs are met.
  • Quality control. At the start, stay deeply involved to ensure that deliverables meet expectations. The first nine weeks of a relationship set the tone – start diligent and loosen up as trust builds. 
  • Partner failures. When things go wrong, have a backup plan. Be nimble and ready to step in, whether that means finding alternative solutions or even taking on tasks internally temporarily. We have had to rush to a big-box store to buy materials for a client’s tradeshow booth when a partner didn’t deliver!
  • Long-term fit. Not all partnerships last and/or work for a given time. Some partners may struggle with the demands of larger clients, such as extended payment terms. If a partner’s limitations create friction, it may be time to move on.

Positioning Partnerships to Clients

Today, clients are more accepting of partnerships, provided that you maintain accountability. Position them as extensions of your team, but keep the relationship seamless.

  • Take responsibility. Ensure that your clients know you’re the main point of contact and fully responsible for all outcomes, even when using partners.
  • Minimize confusion. Decide which aspects of the partnership are visible to the client. For example, routine tasks like printing might not need explanation, but bringing in a new partner for strategic work should be communicated transparently.

Unlocking Opportunity

At the end of the day, a strategic partnership can unlock new opportunities and expand your capabilities, but they require care and attention. By focusing on alignment, communication, and rigorous evaluation, you can create collaborations that benefit everyone involved – your clients, your partners, and your business. Success, after all, is a two-way street.

***

One of the biggest constants in my life has been the importance of partnerships. From experience, I have become a firm believer that it’s not about individual brilliance but about people working together. Success is most likely to come when I put aside selfish me and think about how I can help my partner win.

But knowing that you need partnerships to win is only the beginning of the journey. You still have to actually find the right partners! It’s easier said than done. Not every potential partner is actually a good fit, and that’s ok. When you do find the right fit, the results can be incredible.

To help you turn the idea of strategic partnership into reality, our chief strategist has written this great article about how to find a potential partner, how to pick the right opportunities, how to work together – and how to overcome the challenges. Don’t skip it!

 

 

Fran Tarkenton