Discover key signals that indicate when it’s time to partner up, and learn how the 5S framework can enhance your sales and marketing efforts.
October 22, 2024
Issue #681
This week, we're diving into why your customers should be your guiding stars when it comes to ELG.
Plus, get the scoop on the 5S framework to maximize your growth potential!
But before we get started — can you take a few minutes to complete the 2024 Future of Revenue survey? We want to know the strategies that are making you successful, but we’re almost out of time: The survey closes THIS FRIDAY 10/25!
PRINCIPLES
The customer has the last vote
We’ll keep advocating for GTM to leverage ELG wherever possible, and show you ways it can help you win. But your customers are still your best guides when it comes to implementing an ELG strategy, especially around tech partners.
So you have to pay attention when your customers:
- Request integrated solutions
- Give you feedback on gaps in your offerings
- Request specific expertise or specialized products that your company doesn’t provide
- Show enthusiasm for co-branded initiatives or joint promotions
- Ask about additional products or services that complement their purchases
And just as Rob Rebholz, Co-founder and CEO of Superglue, shared on LinkedIn last week:
“New partnership leaders should talk to customers BEFORE talking to their company’s partners. You have to understand why they use your product, how they feel about your integrations, your SIs, and what they think is missing.
Your customers should be your guide — whether you’re in marketing, sales, or partnerships!”
By actively listening to customer feedback and monitoring engagement, you can better position your GTM strategy to incorporate partners effectively. This approach not only meets customer demands but also enhances the overall value you provide.
TACTICS
Using the 5S framework to grow your ELG strategy
The 5S framework for digital marketing — Sell, Serve, Speak, Save, and Sizzle — can help you enhance your online presence, engage with your customers, and drive sales.
Even though digital marketers are the main users of this framework, 5S can be applicable to ELG too:
1. Sell: Partners can help enhance sales by providing complementary products or services, thereby creating bundled offerings. For example, if a software company partners with a cloud service provider, they can deliver a comprehensive solution that appeals to a broader audience.
2. Serve: Strategic alliances can enhance service delivery. For instance, partnerships with customer service platforms can improve response times and customer satisfaction. Sharing customer insights can also lead to better service customization, meeting specific needs more effectively.
3. Speak: Partners can amplify your voice by co-hosting webinars, joint marketing campaigns, or leveraging their networks for outreach. This collaborative communication strategy helps in reaching new audiences and establishing credibility.
4. Save: Working with partners can help reduce costs through shared resources, such as joint marketing expenses or co-developed technologies. For instance, collaborating on a marketing automation platform can minimize individual investment while enhancing campaign effectiveness.
5. Sizzle: Partners can help extend brand value through collaborative branding efforts. Co-branding initiatives can introduce new audiences to your offerings and enhance brand perception. For example, joint ventures can lead to innovative product launches that resonate with customers and drive excitement.
It can also help to explain to your team the benefits of implementing an Ecosystem-Led Growth strategy.
What do you think?
MEME OF THE DAY
Use in case of emergency
If your meetings are too long, now you know what to do.
Thanks Palash Soni for the meme.
STUFF YOU CAN'T MISS
- October 22 — Successfully Presenting Your Plan — TODAY
Learn from Tai Rattigan (Co-founder and COO of Partnership Leaders) how to effectively present your budget plan to key stakeholders with confidence and clarity. Save your spot here.
- October 24 — Tech Stack Summit ‘24
Join Justin Zimmerman, Tai Rattigan (Co-founder of Partnership Leaders), Kristen Kelly (Global Technology Alliances Director at Netskope), Greg Portnoy (CEO of Euler), and many more GTM leaders as they help you pick the right people, process, or tools to grow your co-sell, integration, or cloud partnerships. Save your spot here.
- November 11 - 14 — Web Summit 2024
70,000 people will gather in Lisbon, Portugal for one of the biggest tech conferences in the world, featuring speakers from leading companies across nearly every technology vertical. Book your ticket to join them here.
You're all caught up
See you tomorrow
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