Summary

In this episode, Jared and Isaac are joined by Pete, the CMO of AllBound, to discuss the changing landscape of partner relationship management (PRM). They explore the history of PRM and how it is evolving to become more equitable and collaborative. The conversation highlights the importance of building relationships with partners and customers, and how this can lead to mutual value and revenue generation. They also discuss the challenges of translating trust and relationships into revenue and the need for a mindset shift in sales and marketing teams. The conversation explores the difference between building relationships and being strategic in business. It emphasizes the importance of investing in relationships that have mutual value and can drive significant results. The hosts discuss the need for explicit goals and effective execution to achieve desired outcomes. They also highlight the power of creating advocacy between partners to foster long-term collaboration and success.

Takeaways

• PRM is evolving to become more equitable and collaborative, moving away from the traditional hub and spoke model of partnerships.
• Building relationships with partners and customers is crucial for creating mutual value and revenue generation.
• The changing role of partners and the diversification of partner types require a recalibration of the way businesses approach partnerships.
• Trust and relationships are key in the success of partnerships, and organizations should focus on long-term games with long-term people.
• The changing dynamics between direct and partner sales require a shift in mindset and a focus on relationship-first approaches.
• Translating trust and relationships into revenue requires a mutual commercial benefit and a focus on creating value for both parties. Building relationships is valuable, but being strategic in choosing which relationships to invest in can lead to greater benefits for both individuals and companies.
• Setting explicit goals and effectively executing tasks is crucial for achieving desired outcomes in business relationships.
• Creating advocacy between partners by aligning with their needs and interests can result in long-term collaboration and success.
• Investing in relationships that have mutual value and can drive significant results is key to strategic business growth.

Chapters

00:00Introduction and Football Banter
03:00The Changing Landscape of PRM
12:23The Changing Role of Partners
20:36The Importance of Relationships
29:19Changing Partner Types and Activities
36:35The Role of Trust and Relationships in Revenue Generation
42:13Building Relationships vs. Being Strategic
43:22Setting Explicit Goals and Making Them Happen
44:22Creating Advocacy Between Partners