Even if you're a prominent player it’s a struggle to find the right partners to take your product to market. Such was the case for our client, a leading global manufacturer of filtration solutions. They relied heavily on a network of distributors, resellers, and service agents for new sales. The challenge was that their network was not growing and they had insufficient new partnerships in recent years. Anecdotes informed the few that did happen.
We knew from the onset that each right association instantly contributed to the top line, while a wrong match was a considerable loss of opportunity and resources. Thus, the risk and return were both high—the kind of challenges we like!
Using our partner evaluation framework, we started by defining what success means for this client. The framework is not a one-size-fits-all approach. Grail sat with the leadership of the product line to identify the success factors of existing partnerships. Next, we identified measurable attributes for each of the success factors. We then adjusted our framework for client success and went on a comprehensive, yet focused, hunt to collect the required intelligence.
Grail identified and evaluated hundreds of companies in under two weeks. We even spoke to select prospects on their willingness to join our client's network. The outcome: a targeted list of partners, with a clear understanding of each partner's relevance and potential. We packaged the results into a dynamic tool to help management re-evaluate the companies based on any shifting priorities.
Our client quickly sprung into action. Within a few weeks, the initiative resulted in an impressive list of candidates. They found best-fit partners and started onboarding. Following on the success of this initiative, we also applied the solution to the other product lines. It was a true case of turning insights into action.
Grail Insights’ Partner Evaluation Framework will give you the insights you need to find your perfect partners. Talk to us at email@example.com
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