SPM: Strategic Partnership Model - How to help a company build an efficient ecosystem
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The SPM is a simple but robust model, that will help a consultant, a CEO, or a strategist understand who is important for its business. The idea behind a strategic partnership is use someone else asset to reach the company's goal. This will help avoid loosing time for things that are not the core competencies of the company and thus it will cut costs.
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SPM: Strategic Partnership Model - How to help a company build an efficient ecosystem
- 1. A simple and robust model to analyze business opportunities in a particular industry
- 2. • Strategy for a company can mean a lot of things. • Building links with partners can help a company reach its goals in a more efficient way (less time, less costs) • But there are a lot of potential partners out there • And understand who are the right partners, and why they should choose us in return, is not an easy task.
- 3. 1. List of all the types of partners the company may interact with and regroup them by function 2. Analyze what they bring to the company, what the company bring to them, and what they bring to the company’s clients 3. Analyze the interactions they have with the other potential partners 4. Build a decision tree for each function to filter the potential partners
- 4. • Listing seems easy, but it is the most important part of the model. You have to list any type of partners that can interact with the company • For example: physical stores, digital magazine, ads agency, supplier, government, NGO etc… • No need for names, just types
- 5. • For each type you have to build a simple tab • This exercise will help you understand how to interact with this type of partners and what type of communication you will need to build. • If the company is a platform, you need to add a fourth column to accommodate the 2 types of clients.
- 6. • This is a complicated exercise but it will help the company build a robust ecosystem. • For each type of partners, try to understand how they interact with other partners i.e. what they are interested in other partners • Then take some time to think about the network effects: is this partner happy to see similar partners interacting with you? Is he interested by the number of clients you have? Etc… Buy/Sell Service Receive Agreement Pays License Use to distribute Pays $$ Receive Information Pays $$ Provide $$ Use for PR WTP = Willingness To Pay
- 7. • You should be able to build a decision tree for functions, but if it’s too complicated, you can build a decision tree for specific partner types. • Decision tree should start with a general question, and only have yes or no answer. You can refine with as many following questions, but it is important to keep it simple, as it will help you filter the amount of potential partners. No Direct link with industry? Interested to act in this industry? No Already use similar product? Yes Match clients’ target? Yes Yes Have already agreement with competitor? Interested to enter market? No No Yes Yes No Interested by more? No YesYes No Give access to other segments? No Yes
- 8. • Now that you are done with the framework, you have to list the actual partners • You can do that yourself or outsource it as it can be a fastidious job. • Then you use your decision tree to filter the partners. This should help you reduce the list to an acceptable number.
- 9. • After this work, it could be interesting to have a time line to contact or activate these partners according to the priority defined by your new framework • This may be part of another presentation
- 10. Conclusion • It is not impossible to plan a strategic network of partners. • Building this network will require to use personal connections, called call, communication etc… different weapons to choose carefully • This network of partners will help the company in activating their customers • but most importantly it will sustain the growth of the company as it builds credibility and make the company essential for the new partners