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Grow from the Right Intro: The State of Strategic Partnerships in 2014

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85% of senior executives feel strategic partnerships are important to their business growth, but 45% struggle to keep their partnerships active.

CEOs across all business sectors agree that strategic partnerships are critical for any company looking to compete on a global scale. Smart companies see partnerships as a way to acquire customers, drive revenue and enter new markets. They also rely on partners for new ideas, insights and expertise that can impact business performance, market understanding and product innovation.

Despite the increasing need to develop partner relationships, most enterprises lack the knowledge, connections and management capabilities to realize the full potential of partnering. Many companies lack the formal strategies and expertise to identify and nurture the most beneficial relationships. As a result, almost all are seeking a new and better way.

This special report - Grow from the Right Intro - examines the importance of strategic partnerships and alliances in business growth, explores the challenges and opportunities of identifying and creating them and discusses how to maximize the chances of success, which includes making use of big data analytics and automation.

Enjoy these key findings, and visit http://plnx.in/rightintro to view the full report.

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Grow from the Right Intro: The State of Strategic Partnerships in 2014

  1. 1. Grow From the Right Intro: Business Partnership Trends in 2014 Key Findings
  2. 2. Grow from the Right Intro 85% of business leaders feel partnerships are important CEOs across all business sectors agree that strategic partnerships are critical for any company looking to compete on a global scale.
  3. 3. Grow from the Right Intro 45% of companies struggle to keep their partnerships active… But finding the right strategic partner for long-term growth remains elusive.
  4. 4. Grow from the Right Intro The Grow from the Right Intro report by the BPI Network and CMO Council, in conjunction with Powerlinx, explores the challenges facing businesses in partnering and best practices for overcoming these obstacles.
  5. 5. How important are strategic partnerships and alliances to your business? Key Findings: Companies are seeing increased value in establishing and growing global partnerships. More than half of respondents feel that these strategic alliances are extremely important to their business. Notably, no one reports that partnerships were unimportant or nonexistent. Extremely important Important Growing in importance Not important Don't partner
  6. 6. How well does your company develop and leverage business partnerships and strategic alliances? Key Findings: While more than half of respondents feel that their companies develop and leverage partnerships well, only 8 percent feel their companies do it extremely well. Furthermore, 42 percent of respondents feel their companies are ineffective at developing partnerships. Extremely well Quite well Not very well Poorly Not at all
  7. 7. What percentage of your partnerships do you believe have been successful? Key Findings: Only 1 percent of companies enjoy complete success in their partnerships, and nearly half rated their partnership success at less than 60 percent. The difficulties of acquiring and retaining partners are key factors leading to their lack of success. 100 percent 80-99 percent 60-79 percent 40-59 percent
  8. 8. Do you have a sense of how much you invest annually in partnering? Key Findings: The range of budgets for sourcing and maintaining partnerships is vast. While the majority of respondents spend under $500,000 annually on partnerships, the majority of big spenders devote over $5 million on partnership development each year. 42% 12% 20% 4% 6% 7% 8% More than $5 million $3 million to $5 million $1 million to $3 million $500,000 to $1 million $300,000 to $500,000 $100,000 to $300,000 Less than $100,000
  9. 9. In what areas would effective partnerships most benefit your company? Key Findings: Respondents highlight increased market share and market access as the most significant benefits of partnering. In fact, increasing revenue and customer base are the main drivers, with expansion of geographical reach feeding into the former two. 66% 68% 4% 4% 12% 13% 23% 26% 27% 32% 9% Other Improving our supply chain performance Financing our business Upgrading our products or services Boosting our operational effectiveness Adding our sharing resources Gaining access to new technology/IP Extending our product line Expanding our geographic reach Increasing revenue Acquiring new customers
  10. 10. How do you rate your ability to identify, qualify and secure partner introductions? Key Findings: While all respondents see value in partnerships, only half feel their companies effectively perform the actions necessary to identify and secure those partnerships. Extremely good Quite good Not bad Poor
  11. 11. What types of partnerships, opportunities or introductions would most benefit your company? Key Findings: Strategic partnerships that allow access to new customers and new technologies are the top concern for those surveyed. New customers result in increased market share and revenue growth, while new technologies can increase efficiency and improve offerings. 55% 57% 39% 42% 29% 1% 5% 8% 12% 13% 14% 6% Other Business sale Supply chain Finanical Outsourcing Merger or acquisition Consulting Distribution/channel Marketing promotion Technology Strategic New customers
  12. 12. Do you have a formal partnering strategy? Key Findings: Only a third of respondents have a formal partnering strategy, but many are taking steps to create formal partnership plans. In fact, a quarter of respondents are in the process of developing a formal strategy. Yes No In development Not sure
  13. 13. What channels, networks or resources are you evaluating or using to advance your business development process? Key Findings: Respondents often turn to their peers for advice on sourcing partnerships. On the other hand, Respondents rely less on intermediaries like brokers as they feel the lack of personal networking is less effective in determining 6% 9% 10% 15% 24% 25% 31% 34% 40% 41% key alliances. 25% 11% Other Online marketplaces Brokers and/or intermediaries Business information services Strategic sourcing services Social media networks Business development consultants LinkedIn groups Peer-based executive affinity networks Professional organizations Conferences and expositions Industry associations
  14. 14. Would you be interested in a cloud-based platform that automates the process of making the right business introductions through intelligent B2B matchmaking on a global scale? Key Findings: Three-quarters of respondents would or might use a matchmaking platform to create business partnerships, especially if they feel the partnership will allow them to maintain control over the relationship-building aspect of acquiring partners. Yes No Maybe
  15. 15. Want to learn more? Download the Full Report at http://plnx.in/rightintro Thank you for reading!

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