As I continue to talk to a number of technology companies about their winning strategies and best practices in building partnerships and alliances, I keep hearing about some of the critical tactics that will work in your behalf and hopefully keep you in your position.

Note that I said tactics – not strategies or best practices – that can keep you successful. I’ll leave strategy and best practices for another blog.

Here are 5 that I believe are important to help you keep your position.

• Target a 90 day win
• Target high and deliver in phases
• Target the largest customers in your market
• Target your sales force and your partner’s sales force
• Target maximum control

Now here is more of what I mean.

Thinking beyond 90 days in today’s economy is a recipe for disaster. Few companies can afford that luxury, not even the largest ones. While good alliance managers like to think strategically, this is not the time to put all your eggs in this long term basket.

Thinking big in terms of a win means delivering the highest value and hopefully highest revenue joint sale that is realistic and still fits in the 90 day-ish window. Thinking big also keeps you in front of all the right people – sales, management, marketing and customers. But think in chunks of deliverables that are realistic and that can show measurable and incremental success to everyone.

Thinking in terms of large customer deals means that you are targeting the highest end of your target market. If you need to target large companies and your partner is targeting companies in the mid bracket, you could have a disconnect. Make sure you’re both on the same track and can deliver with the same level of customer.

Thinking in terms of getting the buy-in and participation of both direct sales forces has always been important. This has not changed today and may be even more critical in making the right things happen. And if the right things don’t happen, having the sales buy-in may provide a little extra buffer for you in the event of problems.

Thinking in terms of maximum control means keeping control of as many of the elements of success as possible. If you expand your partnership beyond two partners, or if you require too many resources, or input from a third party, you will begin to lose control. That goes for complex projects or ventures that require too many pieces of your own organization to deliver on.

This is a tough market and alliance managers are under a lot of pressure. I’d like to hear what you believe are most critical to your immediate success.

Last week I wrote about what I learned from talking to 25 companies on how social media was being used by them individually, as well as how they used it to enhance their business alliances and partnerships. Mostly I discussed the partnering aspects.

I thought that this week I would back up a little and discuss 5 points to consider when building out a social media program for your business.

• First, with any business initiative, start with a vision, plan, and mission. Sounds like a lot, but this could be a few paragraphs or one-pager. You already have a business plan (I assume), so this is just meant to complement it Not complicate it. Try to answer – “What is my prime purpose in using social media?” Influence customers to buy, provide better customer service and experience, build a new lead channel, etc. Then build your one-pager. Your prime purpose may change or expand in a year, so understand that this is dynamic.
• Second, if you’re not top management, then the above will not be very credible until the owners or senior management buy into it. Social media has the ability to touch and influence almost every area of your business operation, as sales, marketing, HR will all be affected by your strategy. You will need multiple layers of support to get this started – but not necessarily everyone.
• Third, think about how your vision will be turned into policy and action. You will need to establish some policies and guidelines about what’s inbounds and what’s out of bounds in your social media strategy. For instance, what guidelines do you need to establish around talking about new products or internal affairs or finances. These are important areas that can affect you legally, financially, and in your ability to compete.
• Fourth, can you track who’s saying or writing what? And what help or guidance are you providing them? What tools, training and programs might help them help your customers or clients better, or do their job better? There’s a lot of territory to cover on this fourth bullet and my next blog will talk about how to help you get connected to the right resources.
• Fifth, and this is the one I like least, but is necessary. What are the consequences for breaking policy? Even in LinkedIn, some groups have policies that do not allow links in their discussions. Most groups don’t, but those that do will or can expel you from the group. LinkedIn itself has certain policies that will be cause for your expulsion. If you plan to have consequences, then make sure they’re communicated well and backed up with adequate training. This topic alone is worthy of another blog and I would appreciate other thoughts on the subject.

As examples of how to get started or just start your thinking along these lines, take a look at IBM’s guidelines. Or check out Sun Microsystem’s guidelines – one of my former employers – where the CEO has (or had) a highly readable and followable blog. Since Sun is in the midst of being purchased by Oracle, I’m not sure where his future writings will go, but it might be worthy to check out his past material at http://blogs.sun.com/jonathan/ as an example of an executive communication blog.

Look forward to your comments and thoughts.

Over the past 3 months I’ve talked to over 25 companies primarily in the Business-to-Business (B2B) space and mostly technology companies (software and hardware).

 Specifically, I was asking questions including:

• What types of traditional marketing activities are you maintaining (webinars, website development, paper-based sales and marketing collateral, seminars, etc.)?
• What types of digital marketing activities are you engaged in (blogs, Twitter, LinkedIn lead generation, Facebook, partner driven digital marketing, SEO/SEM, etc.)?
• Are you combining the two disciplines and in what ways?

 The types of responses were a little surprising as I thought there would be more push toward exercising these emerging techniques around digital marketing.

 What I found was the following in regards to digital marketing:

1. Most companies were taking a wait-and-see strategy. That is they were waiting to see what their partners or competitors were doing before they invested a lot of time and effort.
2. They were unclear about the ROI from digital marketing activities. Some said that they didn’t see any early returns from looking at how their market was engaged in these activities.
3. They were indeed monitoring digital trends and activities – usually informally – until the time they thought would be appropriate for them to take the plunge.
4. In general, they didn’t see the value in Twitter but did see some value in LinkedIn – as this was a professional community – one that they could have meaningful discussions through. However, even with LinkedIn, almost none of them had anything truly formal going on.
5. There seemed to be an executive gap. Mid-level managers and rank and file employees were more apt to use informal social media communication than senior management. Security and trust were important issues at the senior level.

There were some clear trends that I plan on illustrating in some follow-up blogs and reports, but this is a quick readout of what I found.  Keep in touch or sign up for my future reports.

And please add your comments as I’d appreciate what you’ve found.

Note to above: About 15 of these discussions were formal – that is they followed a prescribed set of questions that lasted approximately one hour. Discussions with the remaining 10 companies were more informal although in general the same types of questions were asked.

And there are always more than a few good articles at B2B Magazine for which I used their logo as an illustration above.

In keeping with my theme of 5, here are some thoughts on the top 5 traps to avoid (or potential problem areas to stay clear of) when it comes to partnerships and alliances.

• Not monitoring change signals from your partner
• Failing to negotiate when it’s necessary
• Trying to represent that you or your company can do more than you really can
• Waiting for your partner to dictate the direction that your partnership takes
• Focusing on individual success and not the partnership

Let’s explore each one a little further.

Trap No. 1:  Not keeping a close eye and ear on what your trusted partner is doing in the marketplace is a recipe for getting blind-sided. I’ve been involved first hand with an important alliance that we expected to move into an acquisition deal. Our discussions turned south when our partner was acquired by a larger partner of theirs, all while they were in the midst of negotiation with us. And we were even partners with their acquirer. That was a costly lesson to learn.

Trap No. 2:  Similar to trap #1, failing to recognize when to negotiate new terms and conditions, or direction, can result in unwanted results and outcomes, at least for one of the partners. When there are substantial changes in business conditions, such as when new competitors enter your field or there are a bevy of acquisitions, don’t wait to look at your partnership T’s and C’s until the contract is up for renewal. That’s usually too late.

Trap No. 3:  Trying to represent that your company can take on more than it is capable of or that your every move is firmly backed by everyone in your company can easily set you up for a fall. It’s important to aspire to success but success is more frequently attained through continuous achievement and hitting milestones than with over zealousness or boasting.  Don’t be enticed to offer your partner more than what you can realistically deliver, and target modestly at least initially. Under-promise and over-achieve as the expression goes.

Trap No. 4:  The fourth trap is allowing the direction of the partnership to be dictated by your partner, especially if they are the larger-dominant one. While you may have to submit to some of their terms and conditions, or risk endless tie-ups and delays with their legal department that most smaller companies can ill afford, you must equally dictate the tempo, rhythm and culture of the partnership. If it sounds like a dance, it is.

Trap No. 5:  While it’s obviously never wrong to focus on your success, if it’s always coming at the expense of your partners’, your partnership won’t keep its legs very long. It’s important to look at the partnership as a joint venture – each side having a stake and a gain. Look out for your partner when they sometimes can’t look at for themselves and you’ll both be successful in the long run.

As I’ve been learning the past few weeks, I’m sure there are many other traps to be aware of. I’d love to hear your favorite.

In the 90’s, I had the opportunity to represent AT&T in one of the first Information Technology (IT) benchmarking studies facilitated by the Nolan, Norton Co. The two founders and principals of the company were David Norton and Dick Nolan. David Norton became famous for his development and use of the balanced scorecard while Dick Nolan was one of the leading professors of Information Management at Harvard. Their company Nolan, Norton Company eventually was bought out by KPMG – but I believe it may be independent again or at least reincarnated.

Our 9 month IT benchmarking study that was geared to highlight IT best practices (world-class best practices actually) was conducted with around 10 companies including Boeing, American Airlines, Canadian Imperial Bank of Canada, Sprint, Ford, etc. We used a number of techniques and as I recall it was an initial exposure to David Norton’s balanced scorecard which had just come out about that time. You can read more about it below and there is The Balanced Scorecard Institute for further information.

Applied to partnering, alliance managers can use these principles to measure:

• Partnership financial performance
• Customer satisfaction and increased customer interaction
• Internal learning through understanding of complementary products and services
• Process improvement through incorporation of best partner practices

Those 4 important balances apply to alliances and partnerships in the following way:

1. Process: Too much process and paperwork can overrun the alliance with unnecessary bureaucracy. Too little and there is not enough of a framework to work within. Having a defined go-to-market partner framework puts boundaries around where to focus.
2. Management: Too much executive interference may kill off the groundswell and viral effect while too little will surely doom its failure as evidence of no real commitment between the partners.
3. Customer Interaction: Too much customer interaction early on in the relationship will result in lack of focus and potentially dissatisfied clients especially if the partners paint the expectations too high. Too few early customers will stall the partnership from lack of concrete success stories and references. Early customer interaction can also help drive new areas of co-innovation that might go seemingly unnoticed.
4. Financial Results: Expectations that are set too high, too early will damage the credibility of the partnership, while too few results ends in a non-start eventually. It’s also important to build a compensation neutral programs with early incentives for both partners so that the line sales people that drive the success of the deals are appropriately compensated. That’s a subject of its own – but is quite important in the overall financial success of most partner driven relationship.

In summary, partnerships naturally imply balance, not necessarily in exactly equal amounts, but more in terms of relative commitment. Lastly, using a balanced scorecard approach can be an important lens into looking at your valuable partnerships and is another way to make sure that partnership success can be equivalently measured and improved.

For more information around the Balanced Scorecard
What is the balanced scorecard?
The balanced scorecard is a strategic planning and management system that is widely applicable to organizations regardless of size or type of business. The system, extensively used in business and industry, government, and nonprofit organizations worldwide, provides a method of aligning business activities to the vision and strategy of the organization, improving internal and external communications, and monitoring organization performance against strategic goals.

At one time, SIFMA was the singular top conference in capital markets and I believe in the 1990’s there were as many as 8,000 attendees. In those days, when I was planning and managing this event for companies including Sun Microsystems and Sungard’s Mint division, the goal was to coordinate all the sales, PR and partnership meetings and presentations so that the staff were not overwhelmed and in the right place at the right time.

There was even a time when I had to order up 2 additional suites to augment our busy floor booth. The suites were geared for round the clock meetings including whisper meetings where we discussed our roadmap to certain clients. And over the past 4 or 5 years, I’ve been attending a fun post-SIFMA client-vendor business dinner, which includes an afternoon of fishing held in the Hampton’s and Montauk on Long Island.

After attending a number of other conferences over the course of the past year, I’d like to offer up some ideas for SIFMA to rebuild its once heralded stature. Here’s some food for thought:

• An event like this begins with industry leadership. I attended a banking event a couple of years ago and the speakers included Ben Bernanke (Fed Reserve Chairman), Jack Welch (CEO GE), Sheila Bair (FDIC Chair) and David Gergen (CNN). Even got to talk to Jack and his wife for a while. Sure, few events are likely to get this caliber of speakers, but consider doing a simulcast from Washington to make it easier for some government employees to speak remotely. And from the tech side, how about Larry Ellison of Oracle or Steve Ballmer of Microsoft.
• Content is King and the full conference price of admission does not warrant the expense for this level of information. I paid full fare last year – thank goodness that I didn’t this year as the agenda suffered further deterioration.  SIFMA must get more speakers from the industry to tell their story. Even some recently unemployed industry veterans could work. There’s no substitute for industry speakers. Have a vendor track if you’d like, but don’t let it dominate everything.
• Build interest before the event. Try a pre-conference mini virtual event to test the waters on content. Or survey the industry to find out what they want to hear most.
• Gather followup after the event. Consider a half-day virtual event for those that couldn’t make it featuring highlights from presentations and exhibits. 
• While the Hilton may have become sacrosanct over the years and a move to the Javits facility on the West side is probably over-kill and would undoubtedly sacrifice intimacy, the SIFMA organizers must consider some rearrangement of the current facility which will create enhanced interest and flow in the exhibits. The addition of the TMC Theater was a plus, but it was too small and even having Frank Abagnale, subject of the movie Catch Me If You Can starring Leonardo DiCaprio, did not quite make it. If SIFMA got Leonardo DiCaprio instead – well that would have been something – but of course that’s not realistic.
• One last important comment – use more social marketing including Blogs, LinkedIn and Twitter to network this event.

I could probably come up with a half dozen more, but maybe I can turn it over to you for comment.

In any case, I’m a stalwart and will continue to attend SIFMA if only to keep up with friends and have some interesting conversation. See you next year.

Answer: When the marketing and sales program is organized and facilitated by actors (& actresses).

I recently attended a 90 minute program with about 50 others sponsored by MENG (Marketing Executives Networking Group) and facilitated by the TAI Group in NY. Since this is my first experience with the TAI Group, let me say a couple of things. TAI has been around for probably 20 years and TAI originally stood for The Actors Institute. They started by training actors but found that their workshops were being attended by non-entertainers (or civilians, as they like to call us) as well. In any case, they have quite an impressive client list including The Boston Consulting Group, Deloitte, Digitas (in the marketing space), CEO’s and senior execs. Their entire facility and offices were quintessentially tasteful in an art-meets-business motif.

One of TAI’s main goals in helping you or your organization is to get you to recognize your inner self a little better so that you can understand how you are presenting yourself and reacting to others in business, as well as hopefully understand their motivations that much faster.  Actors, for one, often need to use this talent or ability to quickly prep for a film or show. As TAI was saying, actors have to team immediately for success whether they get along with their counterparts or not. And the acting failure of one performer can immediately doom the show. Personally, I think good sales people have that same talent, not only in knowing what their motivations are (make the sales of course), but in reading their client so that they quickly and accurately interpret their issues, challenges and of course motivations.

Marketers often use this talent but they apply it to a wide range of customers or buyers typically. Marketers also have to understand the psychological and behavioral mathematics across their customer bases. We call this market segmentation, demographic analysis, psychographics, etc. But while marketers have to deal with the law of large numbers, sales ultimately comes down to mano-a-mano.

Since I’ve been on both the sales and marketing side of the business…in fact I often feel that I’m in the middle ground somewhere, I’ve usually found these programs refreshing and rewarding. And in this case, ditto. Maybe there is a similar program in your neighborhood so to speak.

I guess Shakespeare got it right…All the World’s a Stage. If Shakespeare were around today, maybe he too would be training actors and marketers alike.