Why You NEED an Ecosystem of Partners

3 min readSep 20, 2019

It is no longer hearsay, building an ecosystem of partners is officially a studied and proven sales powerhouse. According to a 2019 Forrester study, of over 450 companies surveyed, 77% confirm that strategic partnerships are essential to their annual marketing and sales strategy.

Now that you are sufficiently hooked, read on to find out why you should grow your business by building an ecosystem of partners. ‍

Revenue — A Numbers Game

As reported by the aforementioned survey, mature strategic partnerships can increase revenue by 23% or more. Better yet, these partnerships yield these impressive results in half the time. Therefore, you are yielding nearly a quarter of your total revenue and saving the truly valuable resource of time in the process.

Furthermore, according to the Digital Marketing Institute, companies are earning anywhere from $6.50 to $20 per $1 spent on social media influencer partnerships. To enumerate, nearly half of the consumer population depends on influencer recommendations. Therefore, the return on investment in social media partnerships is proving to yield massive fiscal success.

Efficient Sales Strategy

Sales and marketing teams have long since been the backbone of business growth for decades. However, marketing and sales team training costs can be exponential and draining. Fortunately, by engaging in an ecosystem of partners, you can more efficiently carry the costs of sales and marketing.

On the sales side, you can elect to form a reseller partnership and effectively utilize the expertise and sales infrastructure of your partner. This support saves you the monumental expense of hiring and training a sales team directly.

Moreover, a co-marketing partner program yields boundless industry solutions. First of all, you can split the cost of advertising when you run a unified campaign. Secondly, marketing integration improves the consumer experience with exciting benefits, products, and innovation. For example, you can produce a limited edition product collaboration. Additionally, you can offer your services at a discounted bundled rate.

Increased Brand Awareness

In addition to adding value to your current consumers, co-marketing and channel partners work wonders in establishing new customers and increasing global brand awareness. Specifically, well-placed partnerships can help get your brand in front of the eyes of a previously inaccessible market.

Better yet, your customer loyalty and retainment rates will increase exponentially. Every customer craves value and convenience and strategically aligned partnerships create exactly that.

Your Ecosystem of Partners — In Closing

By building a strategic ecosystem of partners you will increase revenue, accelerate your customer base, and save valuable time and money. Join the CoSell platform today and start building your partnership ecosystem.