A Partnership Plan is a business strategy that outlines the goals, objectives, and actions of a company’s partnerships. This plan is designed to ensure the company is getting the most out of its partnerships and that each partner is receiving the value they need from the relationship. The plan should include the goals of the partnership, the resources available to both parties, and a timeline for implementation. It should also include measurable targets (KPIs) to track the success of the partnership.
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
This Partnership Plan template is designed for business development teams or managers in any industry to create a plan for their partnership approach. The template is designed to help teams develop a comprehensive and effective roadmap for their partnerships that will enable business growth. The template includes actionable steps and measurable targets to help teams stay on track and measure the success of their partnerships.
The first step in creating a Partnership Plan is to identify the focus areas you would like to address. A focus area is a broad topic that you would like to address through your partnerships. Examples of focus areas could include developing and strengthening partnerships, enhancing partner capabilities, or streamlining partner onboarding. Once you have identified your focus areas, you can begin to create objectives and set measurable targets to tackle each.
Once you have identified your focus areas, you can begin to think about the objectives that could fall under each. Objectives are specific goals that you would like to achieve. Examples of some objectives for the focus area of Developing and Strengthening Partnerships could be: Increase Number of Partnerships, and Improve Partner Engagement.
Once you have identified your objectives, it is important to set measurable targets (KPIs) to track the success of each. KPIs are quantifiable metrics that enable you to measure the success of your objectives. For example, under the objective of 'increase the number of partnerships,' a KPI might be to 'increase the number of partnerships from 5 to 10.'
Once you have identified your KPIs, you can begin to think about the projects (actions) that you can implement to achieve them. Projects are specific actions that can be taken to achieve the desired KPI. For example, under the KPI of 'increase the number of partnerships from 5 to 10,' the project could be to 'create a partnership acquisition plan.'
If you’re looking to streamline your partnership strategy and achieve your objectives quicker, consider using Cascade Strategy Execution Software. Unlike spreadsheets, Cascade provides a powerful platform designed to enable you to effortlessly plan, track, and execute your partnership strategies. Sign-up for free or book a demo with one of our strategy experts to elevate your partnerships today!
