Co-selling has always been a formidable strategy for driving revenue, but let's face it – it hasn't always been a walk in the park. That's where Nearbound swoops in like a superhero.
In this blog you’ll learn:
- The importance of trust in the co-selling process
- The benefits of using Nearbound as part of your co-selling strategy
- Top tips from top experts to navigate the Nearbound and co-selling jungle
Batman and Robin.
Hall and Oates.
Rick and Morty.
Thelma and Louise.
If we’ve learned anything over the years, it’s that the best things happen in pairs.
And selling is no exception.
Co-selling is when two companies’ sales teams work together on a shared open opportunity—including upselling a current customer—to close the deal together. This strategy ensures both teams are armed with and aligned on Nearbound intelligence, introductions, and influence to close the deal faster.
And it works. Workspan reports that current estimates for companies co-selling with partners is expected to be over $300 billion. That’s a lot of dough hiding in the corners of your partner ecosystem.
The current blockers for co-selling with partners
Unfortunately, co-selling requires a little more than just calling your partners up and saying, “Let’s work together.”
Companies often struggle to co-sell with partners because they aren’t aligned on the right data or using the right tools. Co-selling requires the partnered companies to not just align on partnership objectives, but also enable their respective sales teams with every available resource needed to succeed.
Building a Nearbound co-selling strategy lays the foundation for a fruitful collaboration that transcends individual goals and fosters a shared mission to conquer markets together.
Benefits of co-selling with partners using nearbound
Co-selling has always been a formidable strategy for driving revenue, but let’s face it – it hasn’t always been a walk in the park. That’s where nearbound swoops in like a superhero, transforming the co-selling landscape and making it a force to be reckoned with.
So, what makes nearbound the game-changer in the co-selling realm? Here are some examples:
- Trust amplification: By leveraging trusted partners, Nearbound turbocharges your credibility, opening doors to new markets and customers who are ready to embrace your joint offerings.
- Unparalleled insights: Nearbound harnesses the power of data and intelligence, equipping you with the knowledge needed to make informed decisions. You’ll identify the right partners, understand customer preferences, and align your efforts for maximum impact.
- Co-creation synergy: Nearbound fosters a collaborative environment where partners join forces to co-create exceptional solutions. Together, you’ll tap into each other’s strengths, combine expertise, and deliver unparalleled value to customers. The result? A co-selling partnership that thrives on innovation and drives customer success.
- Amplified reach: Nearbound empowers you to expand your market reach like never before. By tapping into your partner’s network and influence, you’ll break through barriers, reach new audiences, and create a buzz that propels your co-selling efforts to new heights.
- Revenue rocket fuel: By unlocking the power of co-selling, you’ll unleash a revenue engine that drives growth, propels your business forward, and puts you on the fast track to success. With Nearbound, your co-selling efforts become a force to be reckoned with, fueling your bottom line with extraordinary results.
If you want to become the co-selling superhero, you need to embrace the power of Nearbound. Don’t let siloed initiatives be your kryptonite. Enable your GTM and your partner teams on nearbound data, so you can start gaining their trust and rocket revenue to new heights.
Expert tips for co-selling with partners using Nearbound
So, how does this look in practice? We’ve gathered insights from industry leaders who have mastered the art of co-selling with partners using Nearbound and achieved remarkable success.
These experts have paved the way to co-selling greatness, and now it’s your turn to leverage their experiences and propel your partnerships to new levels of success.
Kevin Linehan
Kevin Linehan is the Head of Strategic Alliances at Reveal. A partner professional at heart with a selling background, Kevin has built, scaled, and operated within B2B SaaS partnership programs for the last 13 years with HubSpot, Drift, and Impact.com.
Here’s Kevin’s advice for successfully co-selling with partners using Nearbound.
Harness the power of clarity
When it comes to co-selling with nearbound, never underestimate the power of clarity. As partners, we often make assumptions about each other’s roles, responsibilities, and expectations, which can lead to confusion and missed opportunities. That’s why it’s crucial to make your asks and expectations crystal clear from the get-go.
Clearly communicate your desired outcomes, define roles and responsibilities, and set realistic expectations for each stage of the co-selling journey. By eliminating assumptions and fostering a culture of transparency, we pave the way for seamless collaboration, efficient decision-making, and remarkable co-selling success. So, let’s leave assumptions at the door and embark on a co-selling adventure where clarity reigns supreme.
Have a give-get mentality
When making requests for help, remember that it’s a two-way street. If you’re seeking assistance or support from your partner, be prepared to offer something valuable in return. It’s not always about providing direct customer intros (though those are certainly valuable!).
Instead, think about what you, as a Partner Manager, can say "yes" to that will benefit your partner. Maybe it’s sharing market insights, offering access to exclusive resources, or even providing expert guidance on a particular topic. By being proactive in offering reciprocal value, you foster a culture of mutual benefit and trust within your co-selling relationship. So, let’s embrace the spirit of reciprocity and unleash the power of giving in our co-selling endeavors.
Put yourself in your AE’s shoes—they aren’t partnership experts
As a Partner Manager, it’s crucial to invest quality one-on-one time with your Account Executives (AEs) and extend a helping hand. Remember, not all AEs have experience selling with partners, and some may not even realize they need assistance.
That’s where your empathy and expertise come into play. Lead with empathy, understanding the challenges AEs face in their demanding roles. Take the time to educate, guide, and empower them on the power of partnerships and the Nearbound approach.
By investing in their success, you pave the way for a harmonious co-selling journey where AEs feel supported, valued, and equipped to leverage partnerships effectively. Remember, they have a tough job too, so let’s collaborate with empathy and build a solid foundation of trust.
Jason Yarborough
Jason Yarborough is the Head of Strategic Partner Accounts at Reveal. Coming from the agency world, building relationships with SAPs and Oracle, Jason is partner-focused professional that has led onboarding and enablement GTM programs, directed cross-selling opportunities, and served as tech evangelist in companies like Drift, Terminus, and PFL.com.
Here’s the approach Jason uses when co-selling with partners:
Make it about them
Successful co-selling starts with establishing trust and making it crystal clear that you have your partners’ best interests at heart. When engaging with your partners, it’s essential to convey that you’re here to help them win. This means understanding their goals, challenges, and aspirations, and aligning your efforts to support their success. By demonstrating your commitment to their triumph, you foster a strong foundation of trust and collaboration.
Prioritize building authentic relationships based on mutual trust, transparency, and shared goals.
Make it attainable
To drive remarkable success, it’s crucial to make your partners’ journey seamless and their path to achieving success with your product attainable. You need to position yourself as a turnkey solution, seamlessly integrating with their existing GTM (Go-to-Market) strategy.
Just like agencies have their own GTM solution comprising a CRM, MAP, and other tools, you want your solution to become an integral part of their GTM arsenal, something they turn on for their customers with ease. By adapting your partnership approach to align with how your agency partners do business, you create a seamless and symbiotic relationship.
Make it attractive
When you’re trying to co-selling using nearbound as your secret weapon, you need to make every moment, routine, and program you share with your partners incredibly valuable. When your partners consistently find immense value in what you offer, their commitment and dedication skyrocket.
So, what does a value-add program look like, you ask? It’s all about going above and beyond to provide your partners with a treasure trove of benefits. Think co-marketing initiatives that amplify their brand, granting them exclusive access to resources, equipping them with powerful tools, showcasing compelling case studies that highlight joint success, and implementing a robust co-sell program that turbocharges revenue growth for both parties.
Make it valuable
To make your co-selling program irresistible, it’s crucial to build it specifically for the agency, not for yourself. Tailoring a program that’s purpose-built for their unique needs and goals is a surefire way to capture their attention and win their hearts. When agencies see that you have confidence in your solution and understand their business inside out, they’ll view you as more than just a vendor— you’ll become their trusted GTM partner.
By aligning your program with their objectives, challenges, and aspirations, you position yourself as a valuable resource they can rely on. So, roll up your sleeves and dive deep into their world. Take the time to truly understand their business, their pain points, and their growth ambitions. Armed with this knowledge, you can craft a co-selling program that not only meets their needs but exceeds their expectations.
Make it scalable
Now that you’ve laid the foundation of trust, value, and attractiveness, it’s time to kick things into high gear. Here’s how you can scale like a pro:
- QBRs (Quarterly Business Reviews). Regularly scheduled QBRs with your partners are a fantastic way to align strategies, identify opportunities, and track progress.
- Make consistent account mapping and reviewing a top priority. Continuously evaluate and refine your partner accounts to ensure you’re maximizing opportunities and addressing any potential roadblocks.
- Enable, enable, enable! Empower your partners with the tools, resources, and knowledge they need to effectively promote and sell your solution. From training programs to sales collateral, equip them with everything necessary to become your nearbound champions.
- Don’t forget the power of referrals. Actively refer your partners to relevant opportunities and customers within your network. By showcasing their expertise and connecting them with valuable prospects, you foster a strong sense of reciprocity and mutual support.
- Celebrate your wins together. Recognize and appreciate the accomplishments of your partners.
Jared Fuller
Jared Fuller is an entrepreneur and student of B2B markets. He serves on multiple advisory boards ranging from Universities to Venture-Backed SaaS startups. Jared hosts PartnerUp, The Partnerships Podcast and is the Chief Ecosystem Officer of PartnerHacker and Reveal. Previously, Jared held executive GTM and partner positions at PandaDoc and Drift, both now known as B2B SaaS Unicorns.
Here’s what Jared wants you to know about building a successful Nearbound co-selling strategy:
Fix your structural problems first
The biggest mistake B2B SaaS companies make is a structural problem, not an execution problem. The existence of an overlying Nearbound strategy vs. a singular partnerships department is what sets the winners apart from the strugglers, respectively.
Partnerships is not a department. Partnerships is a strategy, an overlay, and a commitment. Partnerships is a part of EACH department, not its own. This should include co-selling, but also co-marketing, co-delivery, co-innovation, and so on.
Partnerships is how you build strong relationships to tap into, and Nearbound is how the entire company leverages those relationships to systematically win.
Create a partnership commitment where every department cares about themselves, their customers, and their partners the same. If this is fixed structurally, then your sales team will be ready to embrace every co-selling opportunity that comes their way.
