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The Nearbound Daily is now officially the ELG Insider Daily!
Welcome to the ELG Insider Daily—the #1 newsletter in the world keeping thousands of GTM professionals on top of the latest Ecosystem-Led principles, tactics, and trends. Join the movement here.
PRINCIPLES
Frameworks aren't fluff
They’re a unifying function.
Frameworks provide the predefined language, guardrails, and structure your team can align with and work within to reach company objectives.
Sales leaders use frameworks like SNAP, Sandler, and MEDDIC to help their sellers not have to start at ground zero with every account that comes their way. Doing so improves efficiency and enables sellers to understand where and how to spend their time.
ELG isn’t an overhaul to these frameworks, but an enhancement.
No matter the sales methodology you use, ELG can give you the insights needed to execute your plays more effectively.
Let’s take a look at one of the most common sales methodologies, MEDDIC, and how ELG can enhance the process.
TACTICS
ELG + MEDDIC
MEDDIC is a common qualification process in B2B SaaS for complex and enterprise sales. It stands for metrics, economic buyer, decision criteria, decision process, identify pain, and champion.
Here are the questions sellers often ask at each stage of the MEDDIC framework and how ELG can help through insights, intelligence, and introductions from your ecosystem.
Metrics: What's the economic impact of the situation?
What revenue is at stake? More importantly, what’s at stake for the potential customer? Using ELG and a tool like Crossbeam, you can seek out data insights from your ecosystem, such as who the prospect is a customer of and how long ago they purchased the product. This kind of timing is invaluable insight, as purchasing certain products could signal a new initiative at the company, meaning they might be more willing to invest in your tool.
Economic buyer: Who controls the appropriate budget?
Are you speaking to the right people? This is something all sellers come up against. Dig into your ecosystem data a little further to find out who your partner’s sales team spoke to at the prospect’s company, and who actually signed the check. Is the latter the same person you’re speaking with? If not, try to get further intel, have the partner send over your praises to the economic buyer (influence), or even ask for an introduction from your partner to the right stakeholder.
Decision criteria: What are the formal evaluation criteria the organization is using to pick a vendor?
This kind of intel is gold. Reach out to the partner who most recently went through the buying process with the prospect and learn everything you can. Have your seller integrate these criteria into their initial communications with the buyer.
Decision process: How will the organization pick a vendor? What are the specific stages?
This ELG data can help speed up the sales process. Going back to the Economic Buyer stage, if your sales team is able to win over the right stakeholders early on, the vendor selection process could be shortened immensely.
Identify pain: What are the trigger events and financial consequences of the problem?
This is maybe the most important intel you can glean from your partner. Buyers have to be more selective than ever when it comes to buying products. Quotas are higher, budgets are tighter, and the pressure is on. Get key insight from the people your buyer already trusts (aka the vendors they are already working with) on what their biggest pain points are and bake in custom language about how you’ll solve those pain points from the beginning of the sales cycle.
Champion: Who is selling on your behalf?
Your sellers have specific strengths—and so do your partners. An ELG strategy and Crossbeam allows you to leverage data to prioritize the partners that are most likely to help you close deals. This means that you can surround the buyer with the right people, at the right time, and with the right information to close the deal faster.
Stuff you don't want to miss!
- TODAY! July 31st — Partner Sourced Summit ’24: Bob Moore (Crossbeam), Justin Zimmerman (PartnerWebinar), Rob Rebholz (Superglue), Greg Portnoy (Eulerapp), Cody Sunkel (PartnerFleet), Asher Mathew (Partnership Leaders), Katie Landaal (ZoomInfo), Lizzie Chapman (Nextroll), Alexis Bonavota (G2), and many more, will share tactical ways they use to drive partner-sourced revenue. Register here.
- August 1st — Designing the Right Incentives for Partners: Karlyn Bentley (Senior Vice President, Client Partnership at Ansira), Kathleen Meeza (Senior Director, Global Partner Program at Dell), and Tai Rattigan (Co-Founder and COO of Partnership Leaders) will share key tactics for designing incentives which accelerate partner value and impact. Register here.
- August 14th — From Data to Dollars: Strategies for Nurturing Event Leads to Drive Success: Benito Aguila (Events Marketing Manager from Google) and Airmeet’s CEO, Lalit Mangal will share how to capture valuable data at events to implement targeted follow-up strategies. Register here.
- August 20th — Exploring the Power of the Benefits Broker Channel: Leveraging HR’s Most Trusted Consultants: Ryan Taguding (Founder and Principal at Temio Consulting) will share where to begin, how to identify your ICP and distinguish sales blockers from champions. Register here.
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See you tomorrow
