Why Do You Need a Partner Ecosystem and What Is It?
Digital marketing creates intimate relationships with each other to benefit each other. For example, guppies and armed shrimp work together to survive easily. Likewise, businesses want partner ecosystems that allow them to scale faster in an increasingly competitive market.
Smart companies are embedded in partner ecosystems to improve their competitive edge, generating value jointly and giving great customer experiences. Read this post to know what is ecosystem, its definition, ecosystem services, and some cool examples.
Explanation of the Idea of “Partner Ecosystem”:
We come into associations on your behalf. A partner ecosystem refers to a network of firms providing complementary services within a specific industry. A case in point would be a link-building service provider’s partner ecosystem established by a digital marketing agency. Additionally, an eCommerce store builder like GoDaddy can establish a small D2C & eCommerce business ecosystem.
Features & Services of the Partner Ecosystem
1. Providers offering complimentary services
Partner Ecosystem Digital Marketing Manager:
The offerings provided by both partners and the host company must be supportive as far as services or technology is concerned meaning that consumers should gain more when using both tools simultaneously rather than separately.
Considering Shopify is an e-commerce platform, having it as their technological partner makes sense for Storyblok. On combining Storyblok with Shopify you get a headless e-commerce store that enhances customers’ shopping experience.
2. Reciprocal advantages identified
All parties involved in a partner ecosystem must see what they stand to gain from it. Clear mutual benefits make conflict low or absent and develop teamwork towards a common goal.
Before joining any partner ecosystem ask the hosting firm for a partnership deck illustrating all the benefits and expectations associated with this move.
3. Cooperation:
Partner Ecosystem Digital Marketing Manager:
Members within a partner ecosystem and the host organization are compelled to be involved in either collaborating or else they will not achieve a common goal. Together, they can build on each other’s strengths to grow their businesses and provide more value to customers.
Some examples of collaboration in a partner ecosystem include co-marketing, sponsorship, and innovation.
Types of Partner Ecosystems
Partner ecosystems are built by companies according to their objectives. For example, an enterprise could set up a sales & marketing ecosystem aimed at promoting brand awareness as well as product or service uptake.
Our technology partners and agency partners stand out as our two key ecosystems at Storyblok respectively.
Ecosystem of Solution Partners
Some examples of our agency partners include Netural, Bakklog, and VividFront.
Having Storyblok as your solution partner allows you to:
1. Complimentary advertising
Through our partner directory as well as featured case studies where we share project achievements and how they were done we help you market your services.
2. Development resources availability
The agency partners can now be profitable with the introduction of necessary tools that allow for better business operations, service growth and full utilization of Storyblok capabilities.
Our social communities, however, allow you to interact with other agencies about this same topic and others as well as stay informed on industry developments. Also, our dedicated support team is always available to help you if you have any questions or need assistance regarding Storyblok.
A Partner Fund worth $1.5 million was launched in 2022 to fund growth initiatives and co-marketing activities among approved agency partners.
3) Dividing profits:
Partner Ecosystem Digital Marketing Manager:
The revenue share program offers the opportunity to earn extra money every time a new client signs up with Storyblok through your referral link. However, if they meet certain requirements, 10% of the monthly subscription fee paid by the client will go to Storyblok’s partner agency.
Your company can use revenue sharing so that it may distribute its income flow across different sources.
Technological Environment:
On top of that complementary best-in-class technologies are part of the larger ecosystem known as Technology Ecosystem within Storyblok for further enhancing its functionalities. Some examples include Algolia, Netlify, and Shopify amongst others.
According to Alin Tanase who is a Technology Partner Manager at Storyblok “We want different technology solutions that work seamlessly together”. Furthermore, constant innovation and improvement of each others’ offerings drive our cooperation with technology partners.
1) A bigger piece of the pie:
Partner Ecosystem Digital Marketing Manager:
Integrating your technology with Storyblok can reach out to thousands more clients while giving them additional value. For example, an agency partner building a website for an e-commerce business can improve site functionality and create better digital experiences using BigCommerce or Shopify integrated into Storyblok.
This means more money flowing in due to higher market shares leading to more efficient scaling of your SaaS business.
2. Earn from joint marketing projects:
Co-marketing is known as promoting mutual deals that come with benefits for both you and your partners. For example, sponsoring an event or running a Storyblok ad banner on your website.
Revenue share becomes a possibility in your co-marketing efforts, which may lead you to diversify your business’s earnings by venturing into other sources of revenue.
3. Another kind of advertising
Having free promotions for potential customers will help increase the number of people who know about you.
Like agency partners, Storyblok’s ecosystem has a listing for tech solutions. This listing has a summary of the technology as well as an embedded link that takes clients to the partner’s site where they can learn more about its advantages.
Things to consider when choosing a partner ecosystem:
Partner Ecosystem Digital Marketing Manager:
According to the Demand Gen Partner Marketing Survey 2022, 82% of corporate executives expect to expand their networks of partners during this year. Therefore, it means there are no shortages in selecting ecosystems of partnerships to join. However, how do you know if it is worth investing in? These three things that could help in reaching better decisions:
- Make sure you understand what type of ecosystem it is and whether it adds value or not.
- Know who else works within this environment.
- See if these gains and products fit into your process.
Storyblok is a great partner for digital firms and technology solutions. Among the benefits we offer are attractive perks such as profit sharing, free endless development environments, and a dedicated support team aimed at growing your business.