Nurture your partners with the 4C's of partnering
We know there are 28 moments in a customer journey.
Partners can live in all of those.
Here's how you nurture your partners along the way.
😍 Create Demand
- Your partners live in (your) market. They are raising awareness of your product & creating demand organically by talking about you.
- The best thing.... trust. If you're a prospect, who do you trust more? The ISV saying their product is the best, or a group of 3rd parties in a community recommending that same product?
- I think it was Jared Fuller who mentioned that your marketing brings people into the market but your community brings prospects to you.
🤗 Capture Demand
- Your partners are driving introduction & demonstrations.
🚨 Convert Demand
- Your partners sell for you when you're not in the room.
- It's not just their sourced deals where you benefit; partners are influencing deals across the business.
- The majority of SaaS companies will tell you that ARR, pipeline velocity, and close rates - all improved by partners.
🎉 Care for Demand
- Partners drive adoption of your product once it's implemented.
- They build integrations and implement additional use cases, driving NRR growth.
If your approach is that partners are just a lead source, then you're missing a huge part of the partnering picture.
Thanks for contributing to this section of the PhD, Chris Murray!
Efficient ≠ Fast
Your most capital-efficient growth is partnerships.
But the most efficient does not equal the fastest.
Quality, Speed, Cost --> Align your expectations to your investment.
Partnerships will deliver vastly greater ROI compared to any other department when built correctly.
You can't just follow someone else's playbook.
Of course, you want to try to replicate the ecosystem excellence of HubSpot, Salesforce, Google Cloud Partners, Amazon Web Services (AWS).
But it took them decades to get there.
What it looks like to start from scratch today is much different.
How are you starting your partnerships program?
Thanks for contributing to this section of the PhD, Adam Pasch.
Can you build your business with a 100% partner-led approach
Recently, Will Taylor reached out to the ecosystem to ask: Can you build a great company with a 100% partner-led approach?
The post prompted Alex Glenn of PartnerHub to write an entire LinkedIn newsletter on the subject. Alex pointed out that partner marketing is simply good marketing.
When you have a limited budget, it requires you to partner up. It's the only way to extend your reach without spending more money.
Check out the insightful video response he left for us:
Got something to say on this topic? Leave your thoughts with us in a video message.
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