Partner lifecycle refers to the comprehensive journey a business goes through while engaging, managing, and optimizing relationships with its partners.
Example: Consider a manufacturing company that enters into a partnership with a supplier for raw materials and a distribution company for getting its products to market. Initially, the manufacturer carefully selects and onboards these partners, ensuring they align with their strategic goals and values. Over time, they collaboratively work on improving processes, share insights for mutual growth, and sometimes face challenges that require joint problem-solving efforts. Eventually, the partnership may evolve with changing market conditions, possibly leading to re-negotiation, renewal, or termination of the agreement. This continuum—from selection through to potentially ending the partnership—is reflective of the partner lifecycle in a B2B context outside the SaaS industry.
Understanding partner lifecycle helps businesses effectively manage and maximize their relationships with external entities, leading to improved strategic decisions, enhanced operational efficiency, and ultimately, greater success in the marketplace.
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