“What’s old is new again,” and forming partnerships has become a key approach to unlocking growth and success. Megan Bowen, CEO of Refine Labs, and Corey Kossack, CEO of Aspireship, sat down to discuss the resurgence of partnership-based go-to-market strategies, their intrinsic challenges, and the exciting new partnership between Refine Labs and Aspireship.
The Revival of Partnership Strategies in B2B Marketing
To cut through the volume of digital noise, companies are starting to gravitate back towards co-marketing strategies. This resurgence correlates with the search for strategies that drive word-of-mouth referrals which are, according to Megan, the most authentic form of marketing.
Corey expands on this shift, indicating economic changes as a catalyst: "It's financially motivated...capital became expensive...companies have to be a lot more efficient." By successfully leveraging partnerships, companies aim to scale without incurring heavy upfront costs and ensure a return on every invested dollar.
However, the excitement around partnerships doesn't guarantee success. Megan sheds light on the operational reality where many eager attempts at partnerships lead to a dead-end due to lack of genuine referral exchange or substantial financial motivation.
They both agree that for partnerships to work, companies need to be strategic in campaigning for agreements that go above and beyond cross-posting on LinkedIn.
The Three Pillars of Effective Partnership Formation
Megan outlines three distinct requirements for successful partnerships:
Enhance Customer Experience and Outcome
At the core of any partnership should lie an improvement to the customer's experience or outcome that neither company could provide singly.
Financial Benefits for All Parties
Partnerships must offer clear financial advantages to both companies involved and, importantly, the customer; these financial gains must be substantial enough to incentivize action from all parties.
Justification of the Investment
A partnership's worth hinges on the sustained investment of time and resources, so aligning the partnership with company priorities is crucial. When partners can see the potential for significant revenue and have authentic mutual buy-in, their dedication to the partnership's success naturally escalates.
A Case Study in Strategic Partnership: Refine Labs and Aspireship
To put theory into practice, Megan and Corey announce the new partnership between Refine Labs and Aspireship. Refine Labs’ Vault offers a library of high quality content, and Aspireship’s training model offers progression and structure; together, this relationship will foster growth and support for both companies as well as anyone interested in learning Vault materials.
Coming soon, people will be able to register for the Vault course through Aspireship at no cost due to Aspireship’s status as Approved Training Provider through the Department of Labor with their Registered Apprenticeship program. There will still be paid Vault options, but working through the course will provide an incremental, structured approach to the material, with comprehension and retention checks throughout, and an official certification awarded at completion.
As Corey’s enthusiasm for taking the Vault course himself attests, creating a partnership with shared excitement and belief in each other’s services can lead to profound implications, broadening market access while bolstering credibility and reach for both companies.
“Everyone wants to be good at marketing”, Corey plainly states, and this partnership between Refine Labs and Aspireship will ensure access and opportunities for everyone to start or enhance their journey to be a good marketer.
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