Forrester Study Shows Partnerships Are Critical To Business Growth

Forrester Study Shows Partnerships Are Critical To Business Growth

Impact has released a global study conducted by Forrester Consulting confirming a direct correlation between a business’s partnership program maturity and their ability to meet and exceed revenue and growth goals.

The study, titled ‘Invest in partnerships to drive growth and competitive advantage,’ was unveiled on stage at Impact Growth in New York City, and found that companies with the most mature partnership programs are driving revenue growth nearly twice as fast as companies with less mature programs.

Furthermore, the study finds that these companies are up to five times more likely to exceed expectations on a variety of business metrics, such as stock price and bottom-line profitability.

Additional key findings from the survey of 454 decision makers and practitioners from North America, Europe and Asia Pacific include:

  • High maturity partnership programs contribute 28 percent of overall company revenues, while low maturity programs contribute only 18 percent. This increase represents an average of US$162m worth of incremental revenue for companies with high maturity programs.
  • Partnership programs provide a boost on both ends of the customer spectrum: acquisition and retention.
  • 77 percent see partnership development as central to their 2019 sales and marketing strategy.
  • 62 percent of companies surveyed believe implementing technology to optimise partnership management will be high priority or critical to drive success as part of a mature program over the next 12 months.

Partnership programs include the management and optimisation of working with a full spectrum of business relationships and alliances, including traditional affiliates, influencers, strategic B2B partners, app-to-app, premium publishers, native software integrations and more.

Each of these partners acts as part of an indirect salesforce, leveraging existing brand equity with their audience to introduce, influence, or provide some type of significant and measurable impact on the consumer journey toward purchasing a product or service from the business itself.

The study identified what makes a mature program. Findings show that mature partnership programs all share a framework of four pillars: people, process, technology and breadth.

The most mature programs have an assigned group of people dedicated to the program that collaborate with other departments; use process to optimise the program across each partner’s lifecycle; implement technology to manage and/or automate portions of the lifecycle; and have an expanded ecosystem of various partnership types currently contracted.

Impact CEO, David A. Yovanno (featured image) said: “Businesses have always found a way to work together and refer each others business.

“But as partnerships have evolved from informal to strategic, and traditional sales and marketing channels have become challenged, we’re at a tipping point in the partnership economy.

“Forrester’s study is a validation of the mission that Impact has set forth to accomplish: helping brands realise the power of partnerships as a true driver of revenue growth.”




Please login with linkedin to comment

Forrester Consulting Impact

Latest News

It’s Friday Quiz Time Again!
  • Media

It’s Friday Quiz Time Again!

Take B&T's trivia quiz for your chance to win a $100 booze voucher and possible cirrhosis of a major internal organ.

by B&T Magazine

B&T Magazine
Big data technology and data science illustration. Data flow concept. Querying, analysing, visualizing complex information. Neural network for artificial intelligence. Data mining. Business analytics.
  • Marketing

SenateSHJ Launches New Trans-Tasman Practices

SenateSHJ has launched a new digital, data and insights capability designed to help clients tackle the growing complexity of communication challenges. SenateSHJ Digital, Data and Insights (DDI) will combine the firm’s existing Digital and Insights functions to create a Trans-Tasman capability focused on digital communication, and the generation and use of data to improve communication. […]

New BrandStory Format From Bonzai Allows 3x More Ad Space on Mobile
  • Media

New BrandStory Format From Bonzai Allows 3x More Ad Space on Mobile

Creative technology platform Bonzai has announced the launch of BrandStory – a new premium mobile ad format. BrandStory offers triple the ad space and 2.8 times greater time in view than single scroll ad formats, addressing the surging demand from brands worldwide for more real estate to drive real results by seamlessly intertwining awareness, exploration […]

B&T’s Search For Australia’s Greatest Ad Heads To Channel 7
  • Advertising

B&T’s Search For Australia’s Greatest Ad Heads To Channel 7

B&T went through the looking glass this morning, with editor-in-chief David Hovenden (above) appearing on Channel 7’s The Morning Show to get the general public involved in our search for Australia’s Greatest Ad. Hovenden chatted with Kylie Gillies and stand-in host Matt Doran about what makes a great ad and showcasing some of our favourites […]

by B&T Magazine

B&T Magazine
Opinion: The Tall Planner’s Kate Smither On The DBA Dilemma
  • Opinion

Opinion: The Tall Planner’s Kate Smither On The DBA Dilemma

The science is not in question – smarter people than I, with far more data, have codified it. The logic is not up for grabs…it makes sense that creating mental shortcuts to your brand keeps you at the top of your mind. Lead image: Kate Smither – Owner, The Tall Planner I wouldn’t even take […]

Opinion

by B&T Magazine

B&T Magazine
African woman using a cellphone in an office alone
  • Marketing

Ortto & Tall Bob Partner To Deliver Better SMS & MMS For Australian & NZ Businesses

Two Australian-born technology providers have joined forces to bring more power and choice to marketers in Australia and New Zealand with mobile messaging that is more local, cost-effective, and integrated. It’s a partnership that sees two Australian software companies come together to deliver a world-class mobile-first solution for marketers building data-driven, personalised, omnichannel campaigns. While […]

Slew Of New Hires At Snap Inc.
  • Media

Slew Of New Hires At Snap Inc.

Snap Inc. has announced a number of new recruits. B&T unaware if it positively impacted SEEK's share price.

Reddit Gets Playful Brand Refresh
  • Technology

Reddit Gets Playful Brand Refresh

This will be of interest to any Reddit fans, graphic designers or lovers of an orange so bright it burns the retinas.

Zitcha & Broadsign Partner To Drive Global In-Store Retail Media Market
  • Advertising

Zitcha & Broadsign Partner To Drive Global In-Store Retail Media Market

Zitcha and Broadsign have teamed up to integrate the Broadsign out-of-home (OOH) advertising platform with Zitcha’s retail media platform. The collaboration empowers retailers to maximise and monetise in-store digital display networks and enables advertising partners to easily view and book available in-store inventory and review campaign performance alongside the retailer’s other media channels. With the […]

Double Rainbouu & 7-Eleven Launch Exclusive Summer Fashion Label
  • Marketing

Double Rainbouu & 7-Eleven Launch Exclusive Summer Fashion Label

Today, 7-Eleven has announced a one-of-a-kind collaboration with the popular Sydney-based anti-resort wear label Double Rainbouu. Dropping tomorrow, December 1, just in time for summer, this limited-edition capsule will infuse the fashion brand’s rebellious spirit with a distinctly iconic 7-Eleven flavour. The unisex collection features five must-have styles comprising two signature Hawaiian shirts, a peaked cap, a bucket hat […]