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
All for one, and one for all
The Three Musketeers’ “All for one, and one for all” legendary phrase also applies in B2B SaaS.
By breaking down silos and working together, you can tap into the rich knowledge within your ecosystem. Sharing data and insights across teams allows you to gain a comprehensive 360-degree view of prospects and customers, enabling more effective and targeted strategies.
Your team members are more than colleagues; they are your partners in crime, your fellow musketeers. This synergy not only accelerates the sales cycle but also enhances the overall customer journey, leading to higher satisfaction and loyalty.
Just like the musketeers, your strength lies in unity and collaboration.
TACTICS
How to use your partner ecosystem to close faster
The clock is counting down to the end of the quarter, and your many open opportunities are staying stubbornly open. You need to do something beyond another follow-up call or email.
You don’t need to do it alone. Tap into your partner ecosystem for an arsenal of tactics that could help everyone win.
If your prospect…
…is already a customer of your tech partner, then they’re already using your partner’s product as part of their tech stack.
… is already a customer of your channel partner (think: agency partners or system integrators), then you know they regularly look to your channel partner for guidance around any number of products in their tech stack and how to drive efficiency.
… is an open opportunity for your tech or channel partner, then your partner could not only help sell your product with their own but also increase the deal size, depending on how they package your joint solution.
If you have open opportunities that have stalled and you haven’t checked which partners could help influence and advance the deal, then you haven’t explored one of the most effective sales channels. Deals are 53% more likely to close when a partner’s involved.
With Account Mapping in Crossbeam, you can find the information you need, and then start your plan of action.
Account mapping in Crossbeam
If your open opportunities overlap with your partner’s open opportunities, below are some ways your partners can help:
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Your partner can sell your joint solution or integration as part of a package for your mutual prospect. In some cases, this can help you not only close the deal but also increase the deal size.
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Your partner can put in a good word for you and your product during the late stages of their sales conversation. Their prospect may be looking to them for guidance around implementation and maturing their tech stacks, and this is the perfect opportunity to speak to the value of your product.
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Your partner can share success stories and case studies showing how your mutual customers have benefited from your joint solution or integration.
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Your partner can include your product in a request for proposal (RFP) they’re developing for their prospect.
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Your partner can provide intel about their prospect’s business goals, any changes in their go-to-market (GTM) strategies, budget restrictions, and more to help you fine tune your communications with your prospect and give you a better competitive advantage.
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Your partner can provide insight into which competitors your prospect is considering and why, and they can help box out the competition.
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Your partner can recommend your product and/or integration to their prospect as soon as they become their new customer. Their onboarding customer success managers can include your integration as part of their new customer’s integration adoption roadmap and they can update you when it’s the right time to sell. If your product would help their new customer get more value from their product, then it would be beneficial for you, your partner, and your prospect if they adopt your product early on in the customer journey.
If your open opportunities overlap with your partner’s customers, below are some ways your partners can help:
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Your partner can advocate for you and your product to the stakeholders with the most buying power.
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Your partner can provide insight into what the sales cycle was like, which stakeholders were involved, and what needed to happen to push the deal across the finish line. They can inform you about legal and security requirements that can help you be proactive in your communications, smooth over any roadblocks, and advance the deal.
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Your partner can share case studies and success stories about similar mutual customers to help your prospect understand your product’s value.
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Your partner can join you on a call with your prospect to discuss how they can adopt your joint solution or integration.
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Your partner can share intel about your prospect’s buying timeline, and they can update you when it’s the right time to sell.
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Your partner can recommend your integration as part of their customer’s integration roadmap.
Read more about working with your partner ecosystem to close and how much revenue could be at stake.
MEME OF THE DAY
A siloed GTM motion? No thanks.
Thanks for the meme Joe Fontana
UPCOMING EVENT
Partner Sourced Summit ’24
Partner-sourced revenue is one of the most effective ways to drive more revenue for your business. But to truly harness its power, you need to integrate partners into every aspect of your go-to-market (GTM) strategy.
Join us on July 31st at 9am PT / 6pm CET for the Partner Sourced Summit '24, where Justin Zimmerman has gathered the top GTM leaders to share tactical plays that will help you drive partner-sourced revenue.
Learn how to attach more partners to your GTM motion to drive larger deals and shorter sales cycles.
Stuff you don't want to miss!
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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.
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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.
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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.
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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.
