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Nearbound Daily #592: Tap Into Partners To Help Close a Deal In The Final Stages.

Nearbound Daily #592: Tap Into Partners To Help Close a Deal In The Final Stages.

Ella Richmond 5 min

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.
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ask NearBot a question here.

PRINCIPLES

Fundamentals > specifics

As a general rule, it's best to focus on the fundamentals.


Mastering core principles helps you adapt to new situations and quickly grasp specific details.


When choosing what to learn, go for knowledge that applies broadly rather than being tied to one specific area. Aim for principles that work across different fields and contexts.


This way, your foundational knowledge will be useful no matter what changes come your way.


For example, mastering a fundamental of partnering could look like:

  • Learning how to map your customer's journey and understanding why it's important
  • Learning how to think like an executive and align with your stakeholders
  • Learning how to align business objectives with partnerships objectives

And contrastly, mastering a specific area could look like:

  • Mastering account mapping filters
  • Building killer pitch decks
  • Reaching out to potential partners, cold

Mastering fundamentals makes you adaptable when inevitable technological and market changes occur.

TACTICS

Get the final signature with partners

A few months ago, Reveal's Partnership team was trying to help Sales close a deal in the final stages.

Problem:

Neither the Partnership team nor the Sales team could tell if they were heading in the right direction because despite having the approval to sign the contract, the company was ghosting the Sales team.

Solution:

The Partner team dove into Reveal to find which existing partners had a relationship with the company (filter used: "is a customer of").

After a little digging, they learned that the POC of the partner company had just gotten a new job. However, thanks to the strength of the relationship prior to his job change, they asked for intel regarding the company.

They asked three questions:

  1. What's going on in the organization?
  2. Are we talking to the right people?
  3. What's your overall take?

And learned information nothing else—not LinkedIn or Google—could give them:

  • The person the Sales team was talking to had no decision-making power

  • The company's org-chart
  • Who the decision-makers were

  • The 2024 focus of the deal influencer (C-Suite) was all about partnerships

Actioning this intel:

After the Sales team was aware of this intel, they reached out to the right deal influencer by requesting an intro through Reveal to the existing contact they were talking to, and involved and engaged the right people during the Sales process.

Based on the pain points and the focus of the C-Suite, the Sales team built a
personalized pitch and clear next steps, resulting in a closed won deal.

How you can leverage this play:

  1. Get familiar with your Sales team's
    rhythm of business
    and priorities.
  2. Find problems partners can solve: stuck deals, ghosting, access to decision-makers, or influence.
  3. Orchestrate a solution, making both your partners and Sellers heroes in the process.

Read two more plays like this,
here.

Deal isnt dead

READ OF THE DAY

Hanging onto customers has never been harder

Jay McBain
(Chief Analyst of Channels, Partnerships, and Ecosystems at Canalys) is known for saying, "Every company is becoming a technology company."

This article
published by INC. and written by
Howard Tullman (General Managing Partner, G2T3V and Chicago High Tech Investors)
validates his point and emphasizes the importance of partners in this shift.

In it, Tullman explains that Amazon is the leader in giving customers what they want, the way they want it and everyone else is playing catch-up.

Speed, ease of access, and convenience have been the dominant differentiators of success in online retail, but he claims three new drivers for success will increasingly separate the winners and losers.

What are these new drivers for success?

  1. The clearer the offer, the fewer the choices, the quicker the buyer decides.
  2. Brand loyalty
    is the best tool for overcoming decision confusion, reluctance, and fatigue.
  3. Price is rarely the final determinant in most online transactions anyway.

Here's Tillman's point:


In the old, pre-web days, consumers had many needs and few choices. It was a local seller's market.


Today, the whole world is just a click away and buyers have infinite choices but little time, and even less loyalty.


Even then, consumers whose expectations are perpetually progressive will continue to ask "what have you done for me lately" and will seek out the best and most effortless experiences - regardless of the provider.


Small businesses must move online, and large businesses must learn to compete with other large businesses like Amazon on quality and efficiency.

Where nearbound comes into play:

Partners are the best way to surround buyers with trust and value.

In a world where every company becomes a technology company, success doesn't happen alone. Every company becomes an integrated piece of customers' solutions.

Partners will:

  • Increase product quality.
  • Enhance buyer experiences.
  • Create use-case-specific clarity.
  • Sell directly to customers in their watering holes.
  • Build trust through every interaction.

Put simply, partners help you become the best because as Tillman puts it,

If you want your customers to keep coming back, you've got to try to be the best in the business and Amazon is currently the gold standard.

Read
the article here.


CSLoyalty


UPCOMING EVENTS

Stuff you don't want to miss!

  • TOMORROW—May 29th—Roles on a Partnerships Team—Join
    Antonio Hidalgo
    (Senior Director of the Channel Programs at Megaport) and
    Scott Pollack
    (CEO at Firneo) where they will dive deep into the various roles crucial to building a successful partnerships ecosystem.
    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.
  • June 4th—Happy Customers Festival—Join Arrows, HubSpot, Reveal, PandaDoc, Grain, Wistia, Aircall and thousands of GTM leaders to learn how to unlock the full potential of HubSpot.
    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.

RECENTLY PUBLISHED ON NEARBOUND.COM

See you tomorrow

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Ella Richmond 5 min

Nearbound Daily #592: Tap Into Partners To Help Close a Deal In The Final Stages.

A few months ago, Reveal's Partnership team was trying to help Sales close a deal in the final stages. But there was a problem. Neither the Partnership team nor the Sales team could tell if they were heading in the right direction because despite having the approval to sign the contract, the company was ghosting the Sales team.

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