- Sheer volume of partnerships dilute messages in the market
- Some partnerships are detrimental to the firms Brand
- Some partnerships are under-leveraged and do not drive maximum value
- Partnerships need to be strategically aligned with evolving Line-of-Business (LOB) priorities
- Identifying the parameters involved in the evaluation/decision making process
- Gather data on the parameters involved and score them
- Assign weights for every parameter based on decision makers preference and evaluate the final score
- Formulate priorities and recommendations based on the final scores
Scoring the parameters: Second, all the partners that get flagged by the preemptive criteria would be highlighted for review. One would not want to partner with a firm that is bankrupt/scandal hit/etc.
Scoring partners and prioritizing them based on final score: After every parameter is given a score, weights are assigned to each parameter based on the decision makers strategy to arrive at a final score for every partner. The final score(S) boils down to a weighted average of the parameters :
At the end of this exercise we have all the partners scored across an index across relevant parameters.
|Ex: Decision scorecard on potential partners for a Tech firm in the Education Vertical|
- The marketing team compared the scores for existing partners against the marketing funding received from the partners for the joint marketing activities. When viewed from the strategic alignment perspective, some partners had a very high synergy but were not being fully leveraged in terms of marketing activities. This resulted in $20 M in increased partner funding towards marketing activities.
- 7 partners were identified as Brand diluting and Risky and are being reviewed.