Beyond the ICP: Exploring Influence in Partner Ecosystems

Revenue Rehab

This week, our host Brandi Starr is joined by Greg Plum, a distinguished expert in ecosystem channel development.

Meet Greg Plum, a trailblazer who has built partner programs from scratch for multiple SaaS providers and facilitated Partner Ready's ecosystem academy. With lobbying on Capitol Hill in support of the IT industry, delivering three TEDx talks, and active involvement in various industry councils and mentoring programs, Greg's contributions are nothing short of extraordinary.

In this episode of Revenue Rehab, Brandi and Greg delve into the intricacies of the partner ecosystem, distinguishing between channels and ecosystems. Drawing from Greg's vast experience, they explore how marketing leaders can leverage partner ecosystems to enhance understanding of their Ideal Customer Profile, thereby improving collaboration with influencers and increasing the value proposition to both customers and their influencers.

Bullet Points of Key Topics + Chapter Markers: Topic #1 The Importance of Ideal Customer Profile (ICP) [09:47]

"Your ICP isn't just a target; it's the foundation for all your partnerships," stresses Greg Plum. "Misalignment is the main reason partnership programs fail. By focusing on a few perfectly aligned partners who can mutually support your goals, you're setting the stage for meaningful and productive collaborations."

Topic #2 Building Mutually Beneficial Partnerships [16:22]

Brandi shares, “The biggest mistake companies make is focusing on how partners can benefit them rather than seeing it as a two-way street. It's about creating mutually beneficial relationships that open new avenues for revenue that wouldn't exist otherwise. Misalignment often stems from this one-sided mindset, and that’s why partner programs fail."

Topic #3 Managing Channel Conflicts Effectively [32:45]

"Channel conflicts are inevitable, but transparency and a customer-first approach can turn these conflicts into opportunities," explains Greg Plum. "I had a case where two different partners brought in the same deal. We handled it by being transparent with everyone involved and letting the customer decide who they wanted to work with. It's crucial to have clear processes and the right people to manage these conflicts effectively."

So, What's the One Thing You Can Do Today?

Greg’s 'One Thing' is to start with your ideal customer profile (ICP) when developing your partner strategy. "Identify three of your top clients and conduct a thorough 90-minute discovery call to deeply understand their needs, tech stacks, and ecosystem influencers. This will help you pinpoint the right partners who align perfectly with your business goals and customer needs. It's not about having a large number of partners; it's about cultivating a few, perfectly aligned relationships that can drive significant mutual success. Approach this like an IndyCar pit stop—each partner has a unique job but a common goal of serving the customer. By focusing on these key alliances and understanding the nuances of your top clients, you'll be better equipped to create a robust and effective partner ecosystem."

Buzzword Banishment:

Greg's Buzzword to Banish is ‘thought leader’ and ‘ecosystem.’ He shares, "These terms are so overused and have lost their original significance. Everyone today is a 'thought leader' without genuinely bringing new insights to the table, and 'ecosystem' has become a catch-all phrase that muddles more than it clarifies. I've started advocating for the term 'evangelist' instead, because it implies a deeper, more authentic level of advocacy and engagement."

Links:

Get in touch with Greg Plum:

• LinkedIn
• Website
• PRTNERNOMICS Free Starter Membership which includes the Partnering Foundations course, PF Exam, and digital certification badge (LinkedIn)

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