{"id":24,"date":"2021-09-19T18:24:00","date_gmt":"2021-09-19T18:24:00","guid":{"rendered":"https:\/\/mathmagi.com\/wordpress\/?p=24"},"modified":"2021-10-04T20:12:20","modified_gmt":"2021-10-04T20:12:20","slug":"a-partnership-ecosystem","status":"publish","type":"post","link":"https:\/\/mathmagi.com\/wordpress\/a-partnership-ecosystem\/","title":{"rendered":"A partner ecosystem"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Seasoned product managers know that good products bring not only customers but partners who want a piece of the action. And that can be a good thing. Through partners, you can reach a wider audience for your products and provide customers a broader solution than with your products alone. The goal of Shipa Freight&#8217;s partnership program is simple &#8211; to build an ecosystem of partners that maximizes the value of our core products.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Like with most things with do, we treated our partner ecosystem like a product and use a lean product approach to manage it. We studied the market, looking at:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Market fit &#8211; We found that B2B trading platforms had our right type of customer at the right stage in their buying journey.<\/li><li>Market size &#8211; B2B trading platforms are a $56.5 billion industry and growing rapidly, with thriving large and small players alike.<\/li><li>Market needs &#8211; Many such trading platform providers wanted to offer a digital freight service but didn&#8217;t have an easy way to do that.<\/li><li>Our differentiation &#8211; Very few of our competitors offered such a solution to partners<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">And we looked at the business model, namely how we could create value for both parties involved. Making a partnership work is all about mutual success. Some years back, I was proud of myself for negotiating a very favorable deal with a partner, only to see later that the partner lost interest in engaging with us and ultimately both sides lost. In this case, we found a revenue model with cost per acquisition comparing favorably with our digital marketing, and partner commissions large enough to make it attractive to them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With a basic model in place, we assembled a scrum team and built our partnership solution. Our goal was the prove the concept without a large up-front investment, go to market quickly, and scale from there. This led us to a three phase partnership engagement model:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Affiliate &#8211; An affiliate promotes our service, brings us leads, receives a commission, and can monitor activity with minimal startup cost.<\/li><li>White label &#8211; Our white label partner platform provides a partner a branded freight service with integrated authentication, providing a consistent experience for customers.<\/li><li>Embedded freight service &#8211; Our APIs enable partners to provide a seamless buy and ship experience for their customers within the partner&#8217;s platform.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Key to the economics of this three-step model are supporting affiliates and white labels at scale, and using success benchmarks to justify implementing the somewhat more resource heavy embedded service on a case-by-case basis. Key aspects of our white label solution include an authentication API based on OAuth2, a design system-driven UI, and partner attribute tagging of all events in our database. More on this in a future post.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We&#8217;ve had our partnership program in place for some time now and we&#8217;ve learned a lot about what it takes to make a partnership successful. Having a great partner is key, and in our experience that means having a partner with a strong leadership team that feels the partnership is of strategic importance to them. Their commitment is everything. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even with that, you don&#8217;t have complete control over your fate with a partner. What may be a perfect partnership one day can change overnight with leadership changes at the partner organization. We try to mitigate such risks by having a diverse set of partners rather than a strong dependence on just one or two.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Seasoned product managers know that good products bring not only customers but partners who want a piece of the action. And that can be a good thing. Through partners, you can reach a wider audience for your products and provide customers a broader solution than with your products alone. The goal of Shipa Freight&#8217;s partnership&hellip; <a class=\"more-link\" href=\"https:\/\/mathmagi.com\/wordpress\/a-partnership-ecosystem\/\">Continue reading <span class=\"screen-reader-text\">A partner ecosystem<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[4],"tags":[],"class_list":["post-24","post","type-post","status-publish","format-standard","hentry","category-ecosystem","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>A partner ecosystem - Paul Rehmet<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mathmagi.com\/wordpress\/a-partnership-ecosystem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A partner ecosystem - Paul Rehmet\" \/>\n<meta property=\"og:description\" content=\"Seasoned product managers know that good products bring not only customers but partners who want a piece of the action. 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