[This is an introductory class on co-selling which will be followed by more deep-dive classes into each aspect mentioned, then published into our Teachable School focused on helping companies build their partner programs.]22nd November 2019
SaaS Vendors that have partners and are looking to accelerate growth from this Channel are investigating Partner Co-Selling. Simply put, leverage your best salespeople and have them sell WITH your partner’s best salespeople.
Tom Newton, your instructor.
Tom has been delivering global co-selling and reseller programs for years. He is a thought leader in the area of OEM Partner Best Practices and has been solving partner channel problems for years.
|A note from a smaller Cloud Reseller. “We recently lost an important account of a Business Advisory firm. They knew all about the clients’ business needs and put in a Cloud-based ERP and business analytics system. I figured we had 2 choices; try and compete with their business knowledge, or try and partner with them. I approached them, we’ve just closed our second deal together! They bring the business expertise, we have deeper technical skills, – who knows where this might go…”|
GOALS FOR TODAY
- Gain a clear understanding of the Partner Co-Sell Enablement Framework
- Learn how to engage Partners in a conversation about their ABM Plan
- Develop a Playbook for your Reps so they can effectively Co-Sell with your Partner Reps
For years Software companies had Partners, for the most part, these were Resellers. Relationships took years to establish, growth was slow with most Resellers and the Vendor had little visibility into what the Reseller was doing. The relationship was managed by a Reseller Manager, who handled the Technical, Sales and Administrative duties – not very efficient – ongoing conflict.
Today a new paradigm has emerged, industry experts agree that ecosystems are disruptive, strategically important and have the potential to unlock limitless value. Therefore Cloud software Vendors are now selling WITH partners to build revenue-generating ecosystems.
This is being done by connecting and enabling your best sales reps to sell with your partner’s best sales reps…..
Co-Selling in Practice:
If we leverage our Account-Based Marketing strategy we can accelerate things. As a vendor, I have my Account Plan. My Partner in all likelihood has their Account Plan. If we compare these plans we can tell quickly where we are aligned.
ABM helps you convert your best accounts faster by finding and engaging with the most influential individuals throughout the buyer journey. It brings sales and marketing together with integrated buyer insights and buyer Journey to make every interaction a meaningful one – ie: the use of Partners.
Use of this information
– Should I even Partner with this company?
-How should I align my Territories?
-How should I align my Reps?
-Lead and Intel exchange
-Laser-focused Account Management
HOW TO SELL WITH PARTNERS – ESSENTIALS
- Test with a selection of key Partners to identify adoption challenges to Account Mapping, Survey your Partners HOW CAN WE IMPROVE THE PROCESS?
- Show Leadership with your Partners with transparency and accountability that builds Trust. Invite New Referral Partners.
- Using Mobile-enabled application send the new partner ONE piece of intel per day and you will get back one Lead per week. * This can be the SPARK that starts Field Rep engagement = The Pulse of the Channel
- Be on the lookout for new potential partners in your Ecosystem. GIVE TO GET
- If you are not getting the engagement you expect. Try giving more intel to your Partners.
- Partners are Not Customers, they don’t work for your company. They are very independent.
- Your ICP (Ideal Customer Profile) may not be your Partners ideal ICP.
- Seek to understand your Partners business goals.
- New Partner REP. Introduce yourself and send some intel.
- Ask your Partner: Do you need support: Introduction? Expanding footprint – High-Level Contact, Info on our solution. Content/Sales Playbook?
- Establish joint Metrics for Success. Weekly, Monthly, QBR… Align Partner with our reporting cadence.
- Prepare For Meetings. MAP out each Partner’s Ecosystem so you understand their business.
- Use Partner Co- Selling rooms. Or, Notes logged into CRM.
- #SLACK, Check-in Daily.
- ROI Goals: SAVE 20 Hours per week in Channel Management Time. Accelerate time to closing of Partner Deals.
- Elimination of spreadsheets and use of a Platform to provide a single place to access Partner Data required to run the Channel. Query by attributes: region, account owner, industry, hierarchy, segment, yearend, renewal date +++ to easily manage those Accounts with multiple relationships.
- FOCUS ON REP TO REP ENGAGEMENT!
LinkedIn Groups on Co-Selling:
Strategic Alliances & Partner Ecosystem,
Sales Enablement Society,
Channel Sales and Account Management Experts,
Sales / Marketing Executives (CSO / CMO / VP / Leadership / Management), P2P Insight Community