The Nearbound moment is here
Cold outreach is getting harder, costing more, and is dwindling in success.
You want to be where your buyers are, and you need to be part of the conversations that are happening outside of your company.
This is where partnerships come in.
The trap that companies fall into is a lack of resources, lack of engagement, and a "do it yourself" mentality with the partner.
Like, "Hey, let’s get a partnership agreement with revenue share, and let me know when you have leads for me."
Here are a few ways to make partnerships work.
💡 Onboard your partner like you would an employee.
This may involve a series of meetings to show your partner your target audience, buyer personas; pain points you solve, customer testimonials/case studies/social proof, how to conduct a basic qualification call for your product/service, etc.
The key here is to make it easy for your partner to know who you are, how you solve buyer problems, and how they can easily identify a potential buyer struggling with pain points you can solve. Again, the key is to make it EASY for them.
💡 Establish frequent business reviews.
Similar to how you should have regular performance reviews with your team, do the same with partners. Talk about newly onboarded customers, marketing activity that’s being done, case studies/social proof, and overall business strategy engagement.
Review lead sharing that occurred over the past few months and ask for updates. Come up with an action plan to help generate leads for the partner company.
💡 Offer to co-op marketing activities.
Dual branded advertising campaigns, co-hosting a webinar, splitting a booth at a conference, becoming a podcast guest on a few together, etc.
Think together instead of autonomously, and you’ll see if the partnership is worth the investment.
💡 Invite your partner to an internal leadership, a sales meeting, or a company meeting to listen in and be part of.
Offer to be part of their internal leadership or company meeting. Let the company know about the partnership and give your partner an opportunity to get to know your team.
The same goes the other way.
Integrate yourselves into each other’s business when you can. Not a complete immersion, so it’s intrusive but enough to keep them engaged with you, and you with them.
Being a true partner involves integrating them into your business and integrating you into theirs.
Don’t treat a partnership like a transaction, or you’ll get transactional benefits. A good partnership is a deeply seeded relationship that can flourish over time but takes work to build.
Thanks for contributing to this section of the PhD, Ed Porter!
The future is Nearbound
We’ve left the "How?" economy.
We’ve entered the "Who?" economy.
The big winners in the "How" economy were those who got the best info in front of people - masters of SEO, SEM, PPC, emails, product ratings - i.e. Inbound and Outbound.
But the infocalypse is real, and people are overwhelmed with "How" answers. Analysis paralysis kicks in, and buyers move from "How do I solve X" to, "Who can I ask about X."
The "Who" economy is about people. It’s about trust. It’s about networks, community, and connection.
To win in the "Who" economy, you have to partner with those your buyers already trust.
You can’t win them with Inbound and Outbound alone. You need a Nearbound strategy. And you need it now!
Check out my full rant on why we’ve entered the "Who" economy. Click here to watch.
Partner up with AWS
Jay McBain joined a panel discussion about the key benefits of working with AWS as a partner. Click here to watch.
Chief Analyst at Canalys, Jay McBain, joined a discussion panel with senior leaders from AWS Partner organizations to discuss:
✅ How they’re innovating with AWS to drive real value for their customers
✅ How to be successful as an AWS Partner in 2023
✅ How partners can achieve a $6.40 multiplier by selling on AWS
Happenings
- HubSpot x Reveal - How to be Successful in a Large Ecosystem - April 25, 2023, from 2pm - 2:45pm EST - Learn how HubSpot’s app partners have driven more revenue and increased retention by investing in the HubSpot ecosystem. Register here.
- Partner Playbooks - April 27th, 11 AM CT – The Event Led Playbook for Partner Managers & Marketers! Mark Kilens (CMO of Airmeet) is meeting up with Justin Zimmerman (Partner Playbooks) to share how managers and marketers can drive leads, sales, and new partners with events and webinars! Register here.
Meme of the Day
Thanks for the meme, Ed Porter!
Help a fellow partner pro, send ’em the PhD
Send a partner pro the PhD and we’ll send you some PartnerHacker swag just for sharing.
