Is Your Preferred Partner Program Painful or Prosperous?

August 19, 2022    

Agency Mania Solutions highlighted the value to brands of preferred partner programs, also known as P3. Some examples of the goals a company might seek to achieve with a P3 can include:

• Provide a comprehensive, robust supply chain ecosystem and resource partner capability to the marketing organization.
• Move toward collaboration-based relationships to drive advantaged customer and business outcomes that only quality partnerships can deliver or preserve.
• Improve the speed, quality, and accuracy of selecting vendors with the right skill sets and competencies for a given project or assignment.
• Accomplish economy of scale by concentrating more spend with top-performing partners (e.g., 20/80 — 20 percent of partners handle 80 percent of the spend).
• Encourage the use of diverse vendors.
• Enable company leaders to monitor vendor spend across all activities and, based on merit, reinforce the use of preferred partners while realizing economy of scale.

Agency Mania Solutions went on to address factors that can positively influence the success of a P3, as well as factors that can hamper it.

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Source

"Is Your Preferred Partner Program Painful or Prosperous?" Bruno Gralpois, co-founder of Agency Mania Solutions, June 2022.