November 18, 2024

Issue #696

In the world of partnerships, every department has a role to play. But let's be real — aligning sales, marketing, product, and finance can sometimes feel like herding kittens.

Yet, when everyone’s on the same page, partnerships become a powerhouse for growth.

We’re here to share actionable insights on how to turn cross-functional collaboration into your competitive advantage and help you finish Q4 strong — and stress-free.

So, take a deep breath, lather on that SPF (strategy, planning, focus 😉), and let’s get started!

PRINCIPLES

Partnerships = The ultimate team sport (minus the jerseys)

Successful partnerships require clear alignment and realistic expectations across all departments. Every team — whether it's sales, marketing, product, legal, or finance — plays a critical role in partnership success.

However, misaligned priorities and unclear communication can lead to unrealistic demands, delays, and missed opportunities.

What you need to make your ELG strategy work is an unified strategy, cross-functional collaboration, clear metrics and accountability, and support partner managers:

• Establish a shared understanding across the company of what you aim to achieve with partnerships, whether it's market expansion, product integration, or lead generation.
• Involve product teams early in partner discussions to align on integration needs, and loop in legal to streamline contract processes.
• Define clear
  ROI metrics and realistic timelines for partnership outcomes. Finance teams should align budgets with strategic priorities, while executives should back their partnership goals with sufficient resources.
• Recognize the complexity of managing partnerships and provide partner managers with the resources, authority, and cross-departmental support they need to navigate challenges effectively.

TACTICS

Lift up your win rates

New data shows that engaging partners in your deals can significantly increase win rates, with companies on Crossbeam reporting an average lift of 11.7% when partners are involved.

Let's dive into some proven tactics to help you get the most out of your connected ecosystem:

1. Involve partners early to secure the win
Your prospects go through up to 28 touch points before making a buying decision, but you only control a few of those directly. By leveraging your partners' existing relationships and trusted networks, you can influence many of those critical moments. Companies like Netskope are using partner data to secure warm introductions and jumpstart conversations with prospects.

Tip: Use tools like Crossbeam or Reveal to identify shared accounts and engage partners early in the sales process.

2. Expand your ecosystem for bigger win rate lifts
Data shows that the more partners you're connected to, the higher your win rate uplift.

Action: Focus on growing and maturing your partner network while ensuring alignment on joint go-to-market strategies.

3. Empower your sales teams with ecosystem intelligence
Organizations that involve their sales teams in ELG see even greater success. Companies using 75-100% of their Crossbeam for Sales seats experienced a 58.6% win rate lift. This highlights the power of equipping your sales teams with real-time partner insights to close deals faster.

Next step: Invest in sales enablement tools that integrate partner data directly into your sales process, making it easier for your reps to leverage these insights.

4. Navigate growing pains with ecosystem maturity
For SMBs, building a connected partner network can come with growing pains, especially in the 5-10 partner range where win rates might temporarily dip. But don't be discouraged — once your ecosystem matures beyond 10+ partners, the impact on win rates is significant.

Pro tip: Focus on solidifying partner relationships and streamlining collaboration to overcome early-stage hurdles.

5. Align with strategic partners for high-impact results
Not all partners are created equal. Enterprise companies with fewer but highly strategic partners often struggle to see a win rate lift due to a lack of alignment. The key is to ensure your partner engagement is strategic and focused on shared goals.

Advice: Conduct regular check-ins and align on go-to-market motions to fully leverage your partner’s potential.

To get more stats on the power of ELG and tactics to lift up your win rates,
click here.

IMAGE OF THE DAY

Don’t forget to set up boundaries

We're all under pressure to finish the year strong. With the holiday season approaching, it can feel even more challenging to schedule meetings, gather feedback, or make those important connections.

But remember, there's no need to pressure yourself. You’ve got this.

Take this as a gentle reminder to prioritize the things that matter most. In the midst of all the hustle, don’t forget to take care of yourself.

STUFF YOU CAN'T MISS

- November 20 — GTM Partners Better Together Roadshow: San Francisco

If you’re a GTM leader, join the first B2B go-to-market conference focused on unifying teams and tech. The Crossbeam team will be at the next event in San Francisco, learn more here.

- November 21 — Rethinking Nurture: How to Create an Always-On Strategy That Drives Pipeline

Meghan Crook (Intentsify) and Jessica Fewless (Inverta) will share how to build a signal-based strategy that will help you keep the conversation going and facilitate the buyer journey across multiple channels.
Save your spot here.

- December 5 — Year in Review: Top Partnership Insights of 2024

Kelly Sarabyn will speak with Greg Portnoy, Nelson Wang,and Jill Rowley, as they review top partnership insights from 2024 and how that will guide partnerships in 2025. Save your spot here.

You're all caught up

See you tomorrow

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