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5 Key Sales Trends To Boost Growth For 2021
Sales leaders are seeking to grow revenue and they’re doing it within a partner ecosystem. Here are 5 key trends are connected to this vital understanding.
Are you searching for the best ways to boost growth in 2021? If so, you want to have more high-quality leads, warm introductions, timely opportunities…to close more deals.
More and more sales leaders are seeking to grow revenue – and they’re doing it within a partner ecosystem. IDC predicts that companies with an ecosystem model will grow 50% faster than those that don’t.
Industry experts at big consulting firms like Accenture and Deloitte are underlining this as a critical trend. It’s not a passing fad, or something that if you hold your breath, will pass by like a random wave.
Partner Ecosystems are changing the landscape of B2B sales. So, it makes sense that the 5 key sales trends are connected to this vital understanding.
Embrace Partner Ecosystems
If you or your organization has been dragging their feet about partnerships, it’s time to make a shift. It’s not that you have to go out and light a fire to every current initiative. But, it is time to evaluate where you can work with partners.
Is there a natural partner to form that will strategically position your company for growth? Is there a strategic direction that will encourage investing in partnerships? Is there an initiative from top executives to devote resources and encourage innovation?
Often, the way we think about issues affects our actions. If there is a positive outlook, devoted resources, and clear value proposition, it’s easier for everyone in an organization to embrace partner ecosystems.
It’s often a matter of opening up opportunities for co-selling. This idea may be present in your organization – but still not fully operational in your partner’s operations.
Brainstorm with your sales teams how you can share the value of co-selling. This will take different forms with each partner. For instance, if your sales team is having success with warm introductions, share the specific approach with your partners. Show a granular, step-by-step approach. Share the process in Zoom meetings. Offer to provide coaching, assistance, or trouble-shooting.
With a little investigation, you’ll discover the best methods to support your partner’s co-selling activities.
With collaborative selling, your sales team has more access to qualified leads. This can be a powerful force to provide insight into your target audience. In addition to the information your team has, you’ll have expanded insights about customer needs.
This expansion is based in data enabling your teams to spot opportunity, avoid dead ends, and prioritize leads. You’ll be able to focus time in the most productive areas and increase converting leads to customers.
Working with partners also gives rise to new ways to work-and-play. You may have the opportunity to host events, co-market, and co-target accounts.
Embrace Simplicity and Ease
Let’s stop for a moment. I don’t know about you, but I think you’ll agree that if things are simple, they are easier to do. If things are easy, they are simpler to do. It’s kind of a beautiful partnership of simplicity and ease.
If you notice that your thinking about partnership is cumbersome, awkward, and gives you a headache – will you race forward? Not likely.
If, on the other hand, you notice that your thinking is creative, curious, and fluid— will you flow forward? You bet.
The same holds true for every aspect of sales and partnering. Tracking data. Organizing workflow. Coaching. Relating to partners. Investing resources.
Look at it this way: is it easy for partners to get set-up doing business with you? Is it fun? Is it enjoyable? Does it put a smile on their faces when they realize how simple and easy it is to do business with your organization?
For example, Co-Sell makes it easy for partners to give warm introductions across their network. New partners don’t have to read a complex user’s guide, or take an expensive training course. With a few moves, they can be up and running – making introductions, expanding their network, and connecting with customers who are seeking their services.
If you want to build a strong partner ecosystem, look at specific and practical ways to make it simple and easy.
It may not sound fancy. But it can and will make a world of difference as you develop and manage selling with your partners.
Expand Beyond Partner Manager
Sometimes people hear the words, “partner ecosystem” and have an automatic knee-jerk response. “That’s Jim’s department – he’s the partner manager.”
This autopilot response is out of date. While it’s true that Jim may be the Partner Manger, the success of working with a partner ecosystem strategy starts with the CEO and flows all the way to the new hire sales rep.
In simple terms, it’s not a way of thinking, marketing, and selling which functions in a silo. If you’ve been used to thinking about partnership ecosystems in a silo — it’s time to update. This is the same kind of inner clearing that you may have had to do in the past. As in, when you gave up a paper calendar for the one on your smart phone. Or you put your Walkman in the garage in favor of iTunes. Or…well, you get the idea.
Some things, like a Partner Manager, were and are important to manage a certain degree of clarity about roles and responsibilities. But, other things, like thinking that everything about “partners” is for that person or that team – well, this kind of approach needs to be revised.
If there is one thing that makes the biggest difference it is this: curiosity. Aren’t you curious about how sales will look in 3, 5, or 10 years? With the rate of change that business experts predict, what will your sales organization look like? What will your partner ecosystem be?
Get curious about how to support best practices for a successful partner ecosystem.
By starting with the right mindset, you can join successful businesses that are shaping the market and realizing significant revenue potential. Partnership Co-Selling is how you can virtually qualify B2B sales opportunity. You can use this to boost sales, expand your network, and grow profitability.
Using a platform like CoSell is the simplest way to get your sales team on board. CoSell is a robust platform that makes it easy and fast to automate and scale collaborative co-selling across sales teams.
If you’d like to explore how partnership co-selling can help you and your team boost sales and win major clients fast - check out our selection of free eBooks.