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.
Phase 1 and 2: The initiative starts with operations and data
Focus on setting clear expectations and understanding the true value of account mapping as a strategic collaboration tool.
It is crucial to communicate to sales leaders that account mapping is not solely about getting introductions, but rather about fostering strategic partnerships where both sides can benefit. During this phase, operations teams and the partner front line play a vital role in connecting partner data and reps.
While the specific steps may vary depending on the business, the emphasis should be on driving collaboration, aligning to a mutual action plan, and working towards long-term success. Sales leaders must resist the temptation to solely focus on their own numbers and instead embrace a mindset of enterprise value, where engagement and consistent activity lead to revenue growth.
Phase 3: Solving for an enterprise value
It is important to understand the dynamics of working with the partnerships team and the potential value it can bring to the sales organization. Assuming positive intent is crucial in fostering a collaborative environment and recognizing that the partnerships team wants to help drive more ARR and sees value in working with you. This mindset sets the foundation for successful collaboration.
To effectively share insights, prioritizing accounts becomes essential. By having a clean list of target accounts, an accurate report of deal stages, and an updated forecast, you can provide valuable information about the accounts you’re working on. This includes highlighting accounts where you’ve faced challenges or struggled to make progress. By sharing this information, you enable the partnerships team to better understand the landscape and identify areas where they can assist.
However, it’s important to note that not all opportunities are suitable for collaboration. Timing plays a crucial role, and opportunities that are already in advanced stages or have objections that are unlikely to be addressed should be approached with caution. Collaborating with partners should align with the right timing and circumstances to maximize effectiveness.
As a sales leader, you need to plan for team-wide exposure to account mapping. Develop a playbook that outlines how your reps should utilize partner data and incorporate it into their outbound and selling motions. This ensures consistency and alignment across the team.
In selecting the reps to participate in this new motion, it’s important to choose individuals who are open to change and are effective collaborators. Avoid placing toxic or difficult reps in front of your key partners, as it can negatively impact the partnerships. Building strong relationships requires a positive and cooperative attitude from both sides.
Another important aspect is tracking the mentions of partners’ names during sales and customer success calls. This helps identify strong advocates and detractors within your team and provides insights into how effectively your reps navigate these situations. Understanding the dynamics of these conversations allows you to address any challenges and reinforce positive behaviors that support the partnerships.
Lastly, finding the right balance between giving and getting is crucial. While the partnerships team should have a give-first mentality, as a sales leader, you need to contribute to the symbiotic relationship. Determine what you can give to support the partnership process and reinforce positive behaviors that drive collaboration and success.
Phase 4: Participating in partner meetings
The primary objective is to actively participate in partner meetings and establish strong relationships with partner contacts and leadership teams. As a sales leader, it’s crucial to be an active participant and observer in these meetings to understand how partnership co-selling works in your specific context. This firsthand experience will help you determine the effectiveness of the partnership and identify areas for improvement or optimization.
Building direct relationships with partner contacts and the leadership team is vital for successful collaboration. Just as senior leadership alignment is crucial in direct selling, it holds the same importance in partnerships. By establishing these relationships, you can foster trust, open lines of communication, and work towards shared goals. As a sales leader, you bring a strategic and long-term perspective to the partnership, guiding your team to think beyond short-term gains and focus on building sustainable value.
While participating in partner meetings, it’s important to strike a balance between support and guidance without taking over the meeting. Allow the Partner Managers to lead the discussions and build relationships with the partners. Your role is to provide support, offer insights, and guide the conversation when necessary. It’s essential to be mindful of the relationships being formed by your Partner Managers and respects their autonomy in managing the partnership.
By actively participating in partner meetings, establishing relationships, and providing support, sales leaders can contribute to the growth and success of the partnerships. This collaborative approach fosters a stronger alignment, deeper engagement, and increased joint value for both organizations involved.
Phase 5: Incentivizing
The primary objectives are to incorporate partner metrics, commit to the effort of working together, and reward the right behavior. As a sales leader, it’s crucial to integrate partner metrics into your management and reporting cadences, as well as reflect them in compensation plans. This helps align the entire sales organization with the goals of partnering and incentivizes collaborative efforts.
Incorporating partner metrics into various sales processes and discussions is essential for meaningful conversations and decision-making. This includes account planning calls, pipeline reviews, coaching conversations, forecast calls, and monthly sales meetings.
By analyzing partner involvement in deals, identifying successful partnerships, and understanding areas for improvement, you can drive the adoption of Nearbound Sales and increase partner-assisted revenue (PAR). Additionally, recognizing and rewarding reps who effectively work with partners through awards and incentives reinforce the value of collaboration and encourage others to follow suit.
Furthermore, it’s important to involve Partner Leadership and Partner Managers in sales and marketing meetings, fostering alignment and exploring opportunities for joint value propositions and enablement efforts. By incorporating partner data into reporting and seeking feedback from partner teams, you can enhance sales and marketing alignment and empower your team and partners to tell a compelling story about your solutions.
Conclusion
While this list of activities is not exhaustive, implementing them demonstrates your commitment to the partnership and the success of your team. Inviting partner leaders and managers to relevant meetings and cadences fosters collaboration and allows for their valuable input on maximizing the effectiveness of working together. By actively incorporating partner metrics, committing to the effort, and rewarding the right behavior, sales leaders can create a culture of successful partnership and drive meaningful results for the organization.
In conclusion, Chapter 4 highlights the critical role of sales leaders in driving successful partnerships. By embracing the Nearbound Sales approach and actively collaborating with partners, sales leaders can unlock new opportunities for growth and enterprise value. The chapter emphasizes the importance of setting clear expectations, prioritizing accounts, participating in partner meetings, incorporating partner metrics into management practices, and rewarding collaborative behavior.
By committing to the effort of working together, sales leaders can foster a culture of partnership and achieve meaningful results for their teams and organizations. Through effective leadership and strategic alignment, the power of selling together becomes a driving force in driving revenue and success.
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 the 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.