This is a summary of the Nearbound guide and serves as an introduction to your understanding of deploying Nearbound. We recommend downloading the guide in order to fully understand Nearbound and how you can implement it.

In the 2nd chapter of The Ultimate Guide to Driving Revenue with Nearbound Sales, we delve into the role of Partner Managers within the partnerships team. As individual contributors, Partner Managers play a crucial role in fostering and nurturing successful partnerships with external organizations. They are responsible for driving collaboration, aligning goals, and maximizing mutual value between their company and partner organizations.

Throughout this chapter, we will highlight the importance of building strong relationships with partners, aligning expectations, and driving meaningful collaboration. We will explore strategies for effective communication, data sharing, and decision-making in order to achieve shared objectives. Additionally, we will discuss the measurement and evaluation of partnership performance, as well as the iterative process of coaching and improvement.

Phase 1: Onboard Partners – Connecting Partners’ Data to Your Account Mapping Solution

To start, identify the key partners for the initial rollout, ensuring a phased approach for better implementation. Determine the partnership categories that align with your strategic plan and prioritize those partners who are established, trusted advisors, and have potential for mutual growth.

Craft a compelling give/get narrative that showcases the value of the account mapping solution to partners. Understanding their needs and challenges prepares you to provide meaningful support and resources.

Personalize invitations to each selected partner, making them feel exclusive and valued. Request specific data fields to be exposed and provide clear instructions on how partners can share the required information.

Document your outreach learnings, noting objections, reactions, and time taken for activation. This feedback will help refine your approach and improve future onboarding processes.

By following this phased onboarding process, Partner Managers can establish a strong foundation for successful account mapping initiatives. 

Phase 2: Dig Into the Data – Confirming a Workable Data Set to Bring to Sales

In this phase, Partner Managers dive into the data specific to their partners, aiming to explore, analyze, and extract valuable insights before engaging in discussions with partners. The primary objective is to confirm a workable data set to bring to the sales team.

Start by asking high-level questions to uncover meaningful observations and insights. Identify the most compelling overlap segments and opportunities for collaboration with partners. Assess how the data aligns with your partners’ business and their Ideal Customer Profile (ICP). Take note of any assumptions made and seek validation from partners during the account review process.

Begin by exploring the joint customer audience lists, focusing on the overlapping customers shared by both parties. Understand the profile of these customers and the potential for collaboration or untapped opportunities within these accounts.

Determine the Joint Value Proposition (JVP) with your partner, understanding how you drive value together for customers. Move on to your partner’s open opportunities and your customers, identifying strong prospects for quick wins and leveraging your Customer Success (CS) team to support mutual success.

Approach your partner’s customers and your opportunities with caution, as sales and CS teams may be protective of their pipeline. Conduct thorough due diligence on these accounts and provide useful and timely intel that will be appreciated by your sales reps.

Address the remaining prospect segments, understanding that focusing on prospects may require further iterations and repetitions before embarking on a co-selling motion. Build a target list of prospects aligned with the most important accounts defined by the business.

Organize the segment data by sales and CS reps and teams. Consider which teams present fruitful collaboration opportunities and tailor your approach based on overlaps within specific populations. Validate the target account list with partners and sales/CS teams to ensure alignment.

Phase 3: Share the Insights – Aligning Expectations and Next Steps with Partners and Sellers

In this phase, the primary objective is to align on expectations and next steps with partners and sellers by sharing the insights gathered from the data analysis. The key activities involved in this phase are as follows:

Coordinate meetings with partners to review data: Prior to the meetings, send a templated message to partners, setting expectations for the calls and any specific requests. Partners should come prepared with insights to share and discuss. Refer to the list of key accounts built in Phase 2 and document your insights and desired next steps for each account. It’s important to gather learnings and be curious during these calls, as you’ll need to relay the information to the sales and CS teams. Identify the strongest fit accounts for collaboration and be prepared to share and give on the call.

Schedule and run calls with select sales reps to review data: After the conversations with partners to review the data and insights, proceed to engage with your sales team. Use the account overlaps organized by reps and teams from Phase 2 to narrow down the focus. Identify the sales reps you want to work with based on account mapping and partner validation. Come into these calls with specific questions that need answers to progress the opportunities. 

Provide light coaching to your peers on the benefits of selling with partners and help them understand how to leverage you and the partners as assets rather than liabilities. Show them the data and validate it, taking them into the tools and demonstrating what they care about, such as their accounts that partners have access to. Set clear next steps, document them, and establish specific timelines to be met. Use calendar invites for follow-ups and ensure accountability by delivering on what you promise.

Document actions and plans: Maintain formal, written documentation of your process and progress. Keep a running document with call notes and next steps. Make sure to adhere to tight timelines and establish hypotheses to track over time. Record your observations about the process, providing specific examples for context and reinforcement. Regularly discuss this document in 1:1 meetings with leadership.

Build a mutual action plan template for co-selling with partners: Use the insights gathered and the feedback received to create a standardized planning document that outlines the roles and responsibilities of all involved parties. This document will help organize and guide the execution of the co-selling process.

By effectively sharing insights, setting expectations, and documenting progress and future steps, Partner Managers can align their efforts with partners and sales teams, ensuring a coordinated and productive approach to driving mutual success.

Phase 4: Take Action – Connecting Partners with Sellers

In Phase 4, the primary objective is to connect partners with sellers and drive collaboration on key accounts. The focus is on bringing the right sellers and partners together and defining the desired outcome for these interactions. The key activities in this phase are as follows:

Hold partner account review calls: Schedule and facilitate partner account review calls where both parties, the partner and the seller, can discuss the account collaboratively. The goal is to foster open communication and knowledge sharing. However, it’s essential to avoid the common pitfall of waiting to take without being prepared to give. Encourage both the partner and the seller to come to the call with a willingness to provide value and insights.

Consider a contingency plan: Anticipate objections or challenges that may arise from the partner or the sellers during the meeting. Develop a contingency plan to address these concerns and ensure that value can be extracted from the interaction, regardless of the outcome. Stay a few steps ahead and be prepared to navigate any hurdles that may arise.

Prepare a list of questions: Compile a list of questions about the accounts based on your discussions with both the partners and sellers. These questions should aim to expose gaps, blind spots, or opportunities that have been identified during previous conversations. Use this list to guide the discussion and gather valuable insights during the meeting.

Coordinate introduction calls: Actively participate in introduction calls between partners and sellers. Do not set up calls that you don’t plan to attend. While you may not need to be present on every subsequent call once trust and familiarity are established, ensure that introductory calls have 100% participation from all involved parties.

Manage the meeting: Take the lead in setting clear expectations and establishing an agenda for the meeting. As the “color commentator,” actively participate and provide direction throughout the discussion. Ensure the conversation stays on track and make efficient use of time. If the conversation veers off-course, steer it back in the right direction.

Handle follow-through and ensure accountability: Don’t assume that you can hand off the deal entirely to the sellers. As a Partner Manager, your role is to stay fully involved and not just be on the sidelines. Think of yourself as the offensive coordinator, directing and orchestrating the collaboration between partners and sellers. Stay engaged and hold everyone involved accountable for their responsibilities. Be the driving force behind the partnership, ensuring that progress is made and desired outcomes are achieved.

By actively facilitating connections, managing meetings, and ensuring accountability, Partner Managers can effectively guide the collaboration between partners and sellers, maximizing the potential for success in co-selling initiatives.

Phase 5: Measure, Coach, Iterate – Building a Plan for Improvements

In Phase 5, the primary objective is to develop a plan for monthly or quarterly improvements in the co-selling efforts. This phase involves measuring the performance, gathering insights, and defining future actions. The key activities in this phase are as follows:

Review and understand the numbers: Analyze and assess the quantitative aspects of your co-selling efforts. Consider metrics such as the number and types of calls conducted, the results of those calls, the number of accounts reviewed with partners and sellers, pipeline generation, and revenue closed from sourced or influenced deals. Determine the level of productivity increase needed for the next period and evaluate if forecasts were met or missed.

Gather and share key insights: Reflect on the work you have done and draw conclusions from the data and experiences gathered throughout the co-selling process. Identify key insights that can inform future improvements. Consider adjustments that need to be made to enhance effectiveness. Share these insights with relevant stakeholders, such as your management team, partners, and sellers, to foster a collaborative learning environment.

Define main to-dos and future actions: Document the tasks and actions undertaken in the previous period and their outcomes. Clarify the responsibilities and expectations between you, your partners, and your sellers. Determine what you owe your partners and what they owe you in terms of collaboration and support. Consider involving other stakeholders from your company or the partner’s company who can contribute to the co-selling efforts. Define the expected outcomes from the ongoing work and establish clear objectives moving forward.

Build a plan for improvements: Based on the insights gathered, establish a plan for continuous improvement in your co-selling program. Tailor this plan to the type of partners you are working with, the maturity stage of your program, the company’s maturity, and the effectiveness of your partners. Consider incorporating elements from running Quarterly Business Reviews (QBRs) internally and with partners if such processes are not already in place. Identify areas of focus for improvement, set specific goals, and outline the actions, resources, and timelines required to achieve those goals.

By consistently measuring performance, gathering insights, and developing a plan for improvements, Partner Managers can drive ongoing progress in their co-selling initiatives. This iterative approach allows for continuous learning, adjustment, and optimization, ultimately leading to stronger partnerships, increased revenue, and improved overall performance.

Conclusion

By applying the principles and best practices outlined in this chapter, Partner Managers can navigate the complexities of partnership management with confidence and achieve exceptional results. 

Whether you are a current Partner Manager seeking to enhance your skills or someone interested in understanding the dynamics of partner management, this chapter will provide valuable insights and practical guidance. By harnessing the expertise of Partner Managers, organizations can unlock the full potential of their partnerships, driving growth, innovation, and long-term success of their organizations in an increasingly interconnected business landscape.

There’s much more information available on how to implement this strategy. We recommend downloading the Nearbound guide, reading it fully, taking notes, and determining your 2-3 actions that you will take to start implementing this. Nearbound is your path to the promised land and out of the economic challenge. Nearbound will help you stop selling on hard mode and market much more efficiently.