EXECUTIVE SUMMARY:
Like most companies, Shipware entered 2023 facing the grim reality that customer acquisition costs were increasing – exponentially. The old model of cold prospecting was losing its effectiveness by the day. The company’s relatively new referral program became a focus for driving revenue growth.
Shipware engaged with PARTNERNOMICS® at the beginning of 2023 to implement its proprietary 6-phase partnering process.
At the end of Q2 2023, following the PARTNERNOMICS methodology, Shipware solidified multiple Strategic Partnering Plans (SPP) and reset expectations with their key partners. This timely enhancement drove a 37% increase in partner-qualified leads from the same quarter a year prior.
As a result of following the PARTNERNOMICS methodology for one year, Shipware achieved a 10% increase in qualified leads and a 10% increase in partner-sourced revenue, despite operating in a challenging macroeconomic environment.
“PARTNERNOMICS has been a game-changer for Shipware’s growth and my career.”
~Mike Shine, Partner Development Manager at Shipware
“If you are ready to move from ‘hoping’ to ‘delivering’ in your partnerships, you need PARTNERNOMICS.”
~Andrew Wilson, Partner Development Manager at Shipware
Introduction/Background:
Shipware provides parcel, LTL, and fulfillment cost reduction and spend management solutions to businesses that ship. They help shippers address challenges like never-ending peak season surcharges, building a healthy carrier mix to mitigate the risk of service delays, improving transit times while carrier networks are at capacity, and much more.
From SMBs to Enterprise shippers, Shipware simplifies the process of reducing transportation costs and ongoing spend management – without causing hiccups to their client’s operations. They have earned multiple placements on the Inc. 5,000 Fastest Growing Companies list and are recognized for being a “Best Places to Work” by the San Diego Business Journal and Inc Magazine.
Challenges:
Like most companies, Shipware’s legacy go-to-market strategy was focused on direct sales with minimal indirect/partnership activity. After witnessing increased customer acquisition costs and decreased effectiveness of direct outreach, the executive team decided to expand the company’s partnering function. Shipware relaunched an informal referral partnering program in 2020 that achieved modest success but showed signs of high potential.
In 2022, the partnering team expanded to three members by transferring two sales professionals, Mike Shine and Andrew Wilson, to the partnerships team. Although these partnership newcomers were highly skilled in sales, they quickly learned that partnering requires a different set of tools, processes, and skills.
Response:
In 2023, the partnerships team enrolled in the PARTNERNOMICS Partnering Bootcamp program which teaches a 6-phased partnering methodology.
After completing the 7-week program, the team continued to work with a PARTNERNOMICS Orchestrator who helped them operationalize the Indirect Sales Partnerships methodology.
Step 1 of the coaching program included the development of a customized Organizational Partnering Plan (OPP) that created clarity, focus, and alignment for the organization, from the C-level execs to the supporting teams.
The PARTNERNOMICS Orchestrator also helped the team create Strategic Partnering Plans (SPP) for their core partnering programs. These plans allowed the team to more effectively recruit new partners, reset expectations with existing partners, and clearly define intended outcomes.
One of the many game-changing approaches implemented was establishing explicit goals for every managed partner to their core programs.
With the support of creating SPPs and measuring goals, they moved to a tiered partnership model. This allowed Shipware to focus resources to prioritize their top-performing partners and measure the success of each partnership. This has been a key component for the development of their programs’ success.
Outcomes:
All team members earned the Strategic Partner Leadership Professional® (SPLP®) certification which is the world’s only university-backed partnership methodology certification. This is awarded by the University of Central Missouri through its affiliation with PARTNERNOMICS.
Clarity, focus, and alignment were created for the organization, from the C-level execs to the supporting teams by creating an Organizational Partnering Plan (OPP).
Detailed Strategic Partnering Plans (SPP) allowed the team to more effectively recruit new partners, reset expectations with existing partners, and identify clear goals that each partner is committed to delivering. Once implemented, the Shipware team established multiple SPPs and reset expectations with their partners. This drove a 37% increase in partner-qualified leads from the same quarter a year prior.
The effective use of Terms Sheets significantly accelerated the recruiting and contracting processes. The team can now quickly communicate and assess a candidate’s fit for their partnering programs. And, more accurately disqualify candidate profiles that have shown historically low success rates.
In the first year after implementing the PARTNERNOMICS methodology, Mike Shine and Andrew Wilson were able to create a solid foundation from which they will continuously build while achieving strong results for the company.
As a result of following the PARTNERNOMICS methodology for one year, Shipware achieved a 10% increase in qualified leads and a 10% increase in partner-sourced revenue, despite operating in a challenging macroeconomic environment.
Recommendations:
“The PARTNERNOMICS methodology for cultivating impactful strategic partnerships has been invaluable for my career as a partnering professional. The strategies, tools, and processes showed me how to develop successful partnerships for long-term growth and sustainability. Being that 70%-80% of partnerships fail, PARTNERNOMICS provides the map and strategic direction needed to create success.”
~Mike Shine, Partner Development Manager at Shipware
“PARTNERNOMICS provided Shipware and the partnering team the foundation and a partnership operations methodology to effectively manage and grow our partner program. Our partner engagements saw a significant increase in leads and revenue after implementing their proprietary frameworks. The additional coaching we received from a PARTNERNOMICS Orchestrator was a fantastic resource to guide us and ensure we were effectively implementing the methodology.”
~Andrew Wilson, Partner Development Manager at Shipware
