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Partner ecosystem

Partner ecosystem

Noun

[pahrt-ner ee-koh-sis-tuhm]

A partner ecosystem is a network of businesses who serve similar audiences but are not competitors and may thus benefit from collaborative marketing and sales strategies. In an ecosystem, the involved companies orchestrate all indirect distribution channels to scale and grow. For example, a marketing automation platform (MAP), a video marketing platform, and a content management system (CMS) are three businesses who target similar customers and would benefit from joining or creating a network together. 

By co-marketing and even co-selling in strategic partnerships, companies can sell more products and support happier customers who have a suite of complementary tools at their disposal. Partner ecosystems help businesses serve their customers’ needs in ways that they can’t necessarily do themselves through their own technology. Through recommending trusted products that fill functionality gaps, companies can set their customers up for greater success, and of course, greater retention and customer lifetime value (CLTV).

Example: The Quickbooks partner ecosystem contains hundreds of companies — mostly technology vendors — who serve small businesses.

More Partnership terms beginning with
P
Payouts

Also known as a reward. A payout is the compensation a partner receives for generating leads and revenues. It's almost always monetary, but can occasionally take the form of leads, giveaways, or marketing funds.

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Professional services

Noun

[pruh·fesh·uh·nuhl ser·vuh·siz]

Professional services refers to specialized and customized offerings provided by a software company to assist their clients in implementing, optimizing, and integrating the software into their business operations. These services often include consulting, training, customization, and technical support to ensure the software meets the specific needs of the client's organization.

Example: As part of their B2B SaaS partnership, the software company not only provided their cutting-edge project management tool but also offered professional services to help the client tailor the tool's features to their unique workflow, ensuring a seamless integration.

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