On this episode of the Unlearn podcast, hosts Asher Mathew and Kelly Sarabyn sit down with Ritu Khanna, Vice President of Partnerships at Shopify. Under Ritu's leadership, Shopify has unified previously segmented partner functions, generating new synergies that drive the company's continued hypergrowth. With a proven track record in transforming traditional models to thrive amidst digital disruption, Ritu offers valuable insights into connecting ecosystems, embracing disruption, and guiding partners through an era of profound change. Tune in as we explore Ritu's firsthand perspectives on navigating partnership transformations in today's dynamic business landscape.
Chapters -
00:00 - Partnerships and product extensibility at Shopify.
06:24 - Partner types and their evolution in software companies.
10:53 - Partnerships and alignment in product development.
16:55 - Transforming Shopify's partner program to accommodate more complex market segments while still supporting SMB partners.
21:34 - Partnering with ISVs and ISPs to offer complementary products and services.
27:52 - Reselling and bundling software products on marketplaces.
33:13 - Leveraging partnerships for growth in the ecosystem.
40:55 - Partnering and leadership in a rapidly changing business landscape.
Key Takeaways -
Partnerships need to evolve over time to stay aligned with changing products and business needs. Regular communication and flexibility are important.
Connecting different partner types (e.g. SMB and enterprise partners) and blurring boundaries can create synergies and new opportunities for growth.
Leadership plays a key role in navigating major transformations while keeping partners motivated through recognition, highlighting progress, and embracing change.
Co-selling and building complementary value propositions together is generally more effective than direct reselling of other companies' products.
Marketplaces are enabling more bundled and efficient partner/ISV relationships through low transaction fees and discoverability compared to traditional channels.
Key Quotes -
"I think some of the biggest opportunities lie in connecting dots across the different areas that exist in the world of partnerships, whether that's across different partner types or the same partner types serving different segments. The goal is to create a fully functional and operationally efficient engine. While there may not be 100% overlap, there's certainly a Venn diagram of creativity worth exploring that will deliver strong results." - Ritu Khanna
"The efficiency would be if another company's sales rep sells your product instead of your own. That's what most revenue leaders aim for. However, integrating Shopify with another product for resale can be quite complicated, as we discussed." - Asher Mathew
"I think ours is more focused on what I would call mid-market and on-market versus enterprise. But it is interesting listening to what you're saying, because that is a huge transformation. You still have all your SMB customers, right? And you still have all your SMB partners. So, is your program incredibly complex now because it accommodates these different partners for different customers? I assume they're still key to the Shopify portfolio as well." - Kelly Sarabyn
Ep 28 | Evolving Partnership Models: Insights on Transforming Programs at Hyper Growth Scale | Unlearn: Redefining the Playbook for Modern Business podcast - Listen or read transcript on Metacast
