Credibility is a dynamic and ongoing process within a partner ecosystem. Building and maintaining credibility requires a proactive approach, continuous effort, and a commitment to upholding the values and standards of the collaborative network. It refers to the perceived trustworthiness, reliability, and competence of a partner within the network.
Credibility is one of the Seven Partnership Success Predictors that we proactively monitor with the PartnerScore platform. So if for any reason the partnership is perceived to lack credibility on either side of a partnership, users of the platform are made aware, so that steps can be taken to remedy the situation and get the partnership back on track.
When a partnership is perceived to lack credibility, it’s crucial for the vendor to take proactive steps to rebuild trust and enhance their standing within the partnership ecosystem. It’s time to open communication and conduct an internal assessment to identify the root causes of the credibility issues. Reflect on past performance, communication breakdowns or any other factors that may have contributed to the lack of trust.
Key areas to explore are meeting key deadlines e.g. Did the Vendor hit their product launch dates? Are sales and pricing requests being approved to the agreed service levels? Are Distributors providing the support required to the Partner (logistics, credit and product support)?
Our key recommendation is to use the PartnerScore platform as an agreed performance dashboard which should be reviewed quarterly.
When a channel partner perceives that a partnership lacks credibility, it’s essential for the partner to take constructive actions to address the concerns and rebuild trust.
Initiate a candid and open conversation with the vendor to express concerns and discuss areas where credibility is perceived to be lacking. Clarify and document, expectations regarding roles, responsibilities, and deliverables. Conduct a thorough review of the vendor’s performance, highlighting specific instances or areas where issues have arisen.
Use the PartnerScore platform as a performance dashboard to review implications for the Partner’s business (e.g. is the partner organisation part of the problem? Are there some disconnects?) This could include looking organisational and process design; making sure the agreed service levels are understood by both partner operational teams.
Find out what actions to take if any of our other Partnership Success Predictor scores are low or indeed what to do to maintain Credibility scores of Acceptable or High in our guide to Navigating Your Partner Ecosystems.
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Credibility is a dynamic and ongoing process within a partner ecosystem but what steps should you take if it is low?