How to work with partners
In this week’s newsletter I’m going to walk you through how I work with partners to help me across all stages of the cycle, from prospecting through to adoption and renewals.
Three types of partner
Every company has partners - whether formal or informal.
They typically fall into three main categories
Sell Through - these are resellers or distributors - companies that own the customer relationship and buy your product at a discount to sell onwards to the market.
Sell To - these are typically large Original Equipment Manufacturers (OEMs) like a car or appliance company. If you make car radios or brake discs then you sell your product to the car manufacturer, not the car owner.
Sell With - these are partners that you work alongside to sell your solution - they might be technology partners who are also selling their solution into the customer, or system integrators who will do the installation of your product.
How partners can help you
As a seller you’ll want to understand the types of partners that your company already works with and how they can help you in your role.
Access to the market - knocking on doors (or phones/emails) is tough. But if your partner is already a supplier into the customer they can get you in the back door. Sharing information, contacts and giving you the warm intro to the right people.
Reduce cycle time - a well connected partner already aligned to a strategic initiative can significantly reduce the customer’s buying process - “We definitely recommend you add on ACME’s marketing data”.
Increase deal size - a well connected partner can plug you in at a much higher level at the customer. Instead of the land deal you were expecting, you can position a company-wide programme, or start with a platform deal instead of a single module.
Reduce risk - a partner that already knows the lay of the land can alert you if you are missing key contacts in your deal process, reducing your risk at contracting and into implementation and adoption, “Are you not speaking to the VP Services? Let me connect you”
Partners don’t care about your quota
Just like your customers, partners don’t wake up in the morning thinking about how they can make your day better.
They are worried about their own lives, deals and customers.
Many sellers approach partners with an ask - “Can you introduce me to X”
Instead, take some time to think of a give - how can you help the reseller, the integrator, the tech vendor?
Can you give them access to another customer they are trying to break into?
Can you help them with mapping out another part of the organisation?
Can you share some research on the industry or account they might not have?
If you can give, give give, it becomes much easier down the road to make an ask.
Partners - the clue is in the name!
What do partners want from you?
How to find partners
Check out your own website for any formal partnerships. You should have a section under the “Company” menu. Perhaps you have a partnership team and you can ask them to walk you through the types of partnerships you have in place.
Encourage your company to invest in a tool like Crossbeam. This platform connects up partnership networks making it easy to find out which of your partners have customer relationships or opportunities in the customers you are targeting.
Google “Customer name” + “Partner name” - that might be a tech company like Salesforce or an integrator like Accenture. Often you’ll uncover a case study or job opening that explains what tech stack or programmes are underway. These are ‘informal’ partnerships where you can just connect with the right AE to co-sell - no partnership required.
Ask the customer. If you are already engaged with the customer just ask them what other platforms they use, or which integrators they work with. Then contact the partner “Understand you are working with ACME, we’re also in early discussions there so would love to align so we can support your work there.”
Partners are a fantastic way to create leverage as a seller.
Every month, take some time to map out your partners and understand how you can collaborate with them to make you all successful.
That’s it for this week, I’ll see you next Saturday!
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