Welcome to the
Nearbound Daily Newsletter—the #1 partnerships newsletter in the world keeping thousands of partner professionals on top of the latest industry principles, tactics, and trends. nearbound.com is a project of Reveal. Join the movement here. And ask NearBOT a question here.

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PRINCIPLES

Nearbound is the way

The market is brutal and neither "channel" nor "partner" will save you.

They are too siloed.

It’s about
surrounding
buyers with those they trust at every step of the journey. Sales, marketing, success, and product all have a role to play.

And so do partners and partner managers. But not as something off to the side that sends you referrals. Your partners have the trust of your buyers. Find those overlaps, and tap into them for intel, intros, and influence.

Nearbound works.

But it’s not how most teams are wired right now.

The good news is, great teams are doing it, and we have been collecting their insights and plays to help provide some guidance on the path.

Read Nearbound and the Rise of the Who Economy to learn how to do this.

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TACTICS

How Fullstory
Increased Their Renewal Rate by 14%

Your product may not be perfect, and that’s okay. You can rely on partners to fill those gaps, improve your customer experience, and increase the value proposition of your joint solution.

To enhance Fullstory’s customer experience, Nigel Liaw (Director of Technology Partnerships), followed a 5-step process to deliver more value to them:

1. Identify potential tech partners

2. Connect with partners

3. Build a pitch

4. Enable teams

5. Track

Here’s a quick read Fullstory’s playbook that you can use today to increase the impact of your integration program. Read the full story here.

Identifying potential tech partners

• Actively
  listening to customers’ needs
  and leveraging insights from customer interactions as the primary entry point for identifying potential partners.

• Select your tech partners according to data like
  market presence, account overlap, contact overlap, your company’s Ideal Customer Profile (ICP), customer feedback, and your company’s strategic goals.

• Align with your internal Product team
  to get buy-in and support, ensuring that the integration aligns with the overall strategic roadmap. This will help your integration strategy receive the necessary resources and backing for success.

Connecting with partners

• Expand your ecosystem and connect with partners, by leveraging customers, team members, and partner introductions to facilitate collaboration and drive revenue.
  

• Evaluate key elements
  to ensure the partnership’s worthiness. This includes identifying common customers and prospects, understanding the partner’s ICP, assessing similarities in use cases, defining the joint value proposition, and determining the added value to the customer journey.

Build your pitch

• Leverage Reveal as a valuable data source to
  construct the narrative and business case
  for your integrations, ensuring buy-in from the Product team.

• Communicate key insights
  such as customer pain points, customer insights, the number of mutual customers, the
  Total Addressable Market (TAM)
  of the integration, specific joint use cases with tech partners, and potential candidates for beta-testing.
  

Team enablement

• Align integration initiatives
  with your team’s internal goals and objectives.

• Share data points
  such as the partner’s relevance to customer goals, common customers, active and inactive integrations, and potential use cases with your CSMs so they can establish stronger connections with partner counterparts, understand customer needs better, and deliver enhanced value.

Track

• Build dashboards for measuring integration adoption, retention, and expansion. By consolidating data related to integration usage, you can monitor customer engagement and identify opportunities for improvement.
  

• Leverage Reveal data to
  assist your Customer Success teams in setting up plans
  and conducting informed conversations during Quarterly Business Reviews (QBRs).
  

Read the full story here.

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MEME OF THE DAY

When you’re all too used to carrying the weight

Thanks for the meme Kelly Sarabyn!

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UPCOMING EVENTS

Stuff you don’t want to miss!

• May 15th—How to Partner with AWS—Join Aaron Verstraete (Vice President of Strategic Alliances at Forethought) and Scott Pollack (CEO at Firneo) where they will share insider insights on navigating the AWS ecosystem, ensuring you leave with actionable knowledge. Register here.

• May 30th—Driving Revenue Through Technology Partners—Learn from
  Kelly Sarabyn
  (Head of Product Partnerships Advocacy and Enablement at HubSpot),
  Asher Matthew
  (CEO at Partnership Leaders), and
  Robbie Ptaszynski
  (Director of Strategic Pursuits and Priority ISV Co-sell at Microsoft) as they discuss the revenue impact partnerships teams can have and evolving from re-selling to co-selling.
  Register here.

• Nearbound Summit 2023 Recordings—The future of GTM is nearbound. Watch the recordings to hear how B2B leaders across departments unite with Nearbound strategies and tactics.
  Listen here.

You’re all caught up.

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See you tomorrow

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