We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Business

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What Is Partner Development?

Malcolm Tatum
By
Updated: May 17, 2024
Views: 3,766
Share

Sometimes known as channel partner development, partner development is a business strategy that typically involves entering into working arrangements with other vendors who offer goods and services that may be of interest to a company’s clients. This type of arrangement sometimes includes some incentives for customers of all the channel partners, such as discounts on certain goods or services. Considered a customer-centric approach to supporting clients by offering them a wider range of products through the same basic channel, the concept of partner development is used in a number of industries, including food service and telecommunications.

The actual structure of a partner development effort can differ, based on the goals of the partners involved. One approach has to do with startup companies that are hoping to enter into relationships that help them eventually become established in the marketplace. In this scenario, a new company will build relationships with more established companies that already have a solid client base, offering some type of goods or services that are likely to be of interest to those clients. This approach can benefit the startup, in that there is immediate exposure to potential customers through the partners. In addition, the relationship can help affirm that the products offered by the startup are unique or at least attractive enough to constitute minimum viable products that consumers will want to purchase.

Partner development does not have to involve only a startup company creating relationships with older companies. At times, the goal is to allow two or more partners to create relationships that allow their combined customer bases to enjoy a wider range of similar services. For example, an audio conferencing provider may choose to partner with a fax broadcasting company and a video conference provider, if each of the three companies do not currently offer the services provided by the other two. The end result of this type of strategic arrangement is that customers of all three companies have easy access to those ancillary services, usually with some special pricing involved. Customers have the benefit of working through a vendor they already trust while also enjoying pricing they would not likely be able to secure on their own.

With partner development, the goal is to create a working relationship that ultimately benefits customers and helps to solidify customer loyalty. As long as the products offered by each of the partners can be logically associated with one another in the minds of the clients, there is a good chance that each partner will retain their bases while also enjoying an upsurge in business as customers of their partners choose to take advantage of the incentives and place a few orders for those products. When all the partners have similar customer-centric policies and procedures and offer quality products, the potential of this type of working relationship is significant.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Malcolm Tatum
By Malcolm Tatum
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing to become a full-time freelance writer. He has contributed articles to a variety of print and online publications, including WiseGeek, and his work has also been featured in poetry collections, devotional anthologies, and newspapers. When not writing, Malcolm enjoys collecting vinyl records, following minor league baseball, and cycling.

Editors' Picks

Discussion Comments
Malcolm Tatum
Malcolm Tatum
Malcolm Tatum, a former teleconferencing industry professional, followed his passion for trivia, research, and writing...
Learn more
Share
https://www.wisegeek.net/what-is-partner-development.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.