Milwaukee Tool Part Three: The ROI of Partnership

What’s the ROI of Partnership?

By Michael Kirby, Director, JSS Mechanical Trades, Milwaukee Tool

“Our partnership strategy has changed the entire company, not just our bottom line. It has brought us all together to develop new solutions, and our new development process relies on—and benefits from—these industry relationships we’ve developed. They fuel the ideation for our innovation and that has helped develop us into the new product machine we have become.”

We know that, on some level, it is a weird approach, our JSS approach, in that we cannot directly measure ROI. Obviously, we see our strategy working -  otherwise we wouldn’t continue to invest in this. You don’t always need a quota to prove success, and it can even hold you back if you are blinded by those kinds of metrics. For us, the ROI shows up most notably when a partner refers a peer to us—whether a local competitor, someone from a peer group, or a friend in the industry. This speaks volumes, and lets us know we are doing it the right way. When you’re using a strategy that brings sales to your door, that’s a win by any metric. And even when we need to go knock on doors, we always want to earn the right to have a door opened when we knock.

Our partnership strategy has changed the entire company, not just our bottom line. It has brought us all together to develop new solutions, and our new development process relies on—and benefits from—these industry relationships we’ve developed. They fuel the ideation for our innovation and that has helped develop us into the new product machine we have become.

 

Juli Patty