7 Top Leaders in the Industry answer the needs, challenges & priorities of identifying most valuable partners & how to strengthen co-selling...
How Can You Get The Most Out of Your CoSelling Partnerships?
6 top sales leaders share their insights and offer answers to frequently asked questions about how to super-charge your co-selling partnerships.
We’re all looking to get the most out of our co-selling partnerships. To give you a head start, we interviewed 6 top sales leaders. Here, we’re sharing their insights and offering answers to frequently asked questions about how to super-charge your co-selling partnerships.
These insights will give you a competitive edge about being human-centered. They shine light on the vital importance of being authentic, genuine, and focused on adding value.
Let’s get started.
01. Build and Grow Trust
“The most valuable relationships are the ones where you trust each other implicitly. That comes with time and through successful customer engagements.”
—Jon Parisi, VP, Sales, Observe
While we often think about trust in personal relationships, it is absolutely crucial for building trust with external partners. Trust often comes through working together and growing trusting relationships.
Many of the same guidelines apply. Saying what you mean. Doing what you say. Following through on promises. Being meticulous about keeping commitments for time, energy, and focus.
Naturally, as you achieve milestones, you grow trust. As partnerships lead to successful engagements, the mutual trust grows stronger.
It’s inspiring to look at this weave of daily habits into a vaster fabric of trust. As you consider this, it reinforces the importance of diligence, commitment, and consistency in building trust.
02. Offer Amazing Co-Marketing
“Offer amazing co-marketing campaigns and supplies to get the most out of your partnerships.”
—Alex Glenn, CEO, Partnerprograms
Are you looking for ways to help generate leads? One of the strongest ways to achieve this is to promote together. In the past this may have looked like trade shows and social events. While the details for current promotions will vary, keep looking for how to develop co-marketing with your partnerships.
For virtual promotion, many organizations are focusing on virtual events. This focus on virtual events ranges from educational events, product demos, to informational trainings. Look at ways to co-promote online events to broaden your audience.
Additionally, share information internally so that sales reps are able to share insights from different perspectives. By promoting together, you can rapidly expand your customer base. With a shared perspective, you’ll be able to immediately hand over leads to your partner—and they’ll be able to do the same.
03. Build Strong Relationships
“We build a strong relationship with our partners.”
—Nikita Zhitkevich, Director of Channel Partnerships, PartnerStack
Different companies take different approaches to co-investing. The key idea is that you’re offering partners the best leverage they can possibly get. Consider some of the options such as teaming, mentoring, training, and coaching.
You could provide your partner with experienced sales reps who are able to translate features and benefits in terms everyone can understand. These sales professionals have a deep knowledge of products and services, and can rapidly see how these could add benefit.
Additionally, these reps can share their experience about most frequent questions, hurdles, and challenges. They’re able to connect-the-dots of real-world experiences to adapt benefits for diverse instances. With their experience, they can offer stories of wins, customer experiences, statistics, and testimonials to personalize experiences in different industries and niches.
Your organization may decide to go further with the co-investment. This could take the form of mentoring, training, and coaching. It could also take the form of incentives such as a specific commission structure for new customers, and for cross-sells to existing customers.
04. Set Joint Goals & Communication
“Setting Joint Goals and Communications”
—Braydan Young, Growth, Sendoso
In partnerships, making time for setting joint goals is key. Co selling experts advise to partners to set goals for customer criteria, prospect criteria, and success milestones. Much like you would for an internal partner, identifying specific goals is the key for success.
In partnerships, many of the same principles for success apply as they would for working with internal partners. While you do not have a reporting structure or overarching organizational context, you do have shared goals. Knowing these clearly prevents misunderstandings from arising.
In terms of partnerships, one of the best starting places is to agree on terms. Do you have the same understanding of partner, prospect, and customer? Do you have communication terms outlined for account mapping, partner management, and sales activity? It may seem overly simplistic at first. But if you take the time to define your terms, you will prevent difficulties from arising further down the line.
05. Collaborate and Keep Up Open Dialogue
“Collaborating and Keeping a Recurring and Open Dialogue”
—Javier Ramirez, CEO, Cuota
What can you do to boost effectiveness in your co selling partnerships? It starts with an open-minded attitude about collaboration and communication.
More and more people are actively seeking to create valuable partnerships. It is no longer an unusual way of thinking, but rather a mindset of seeking collaboration.
As you’re working with partners, keeping an open dialogue makes all the difference. This often comes down to the nitty-gritty of responsiveness and clarity. Being responsive varies across industries—so making a clear agreement with your partners can be extremely beneficial. Some partners prefer responses within an hour. Some have the standard of completed responses by end of the business day. Knowing the standards helps you respond in a timely and respectful manner.
Clarity is another key ingredient for getting the most out of your partnerships. When you provide clear information, you can streamline the process of collaborating. With clarity, you’ll refine the deals to ones that are high quality opportunities in alignment with your strategic goals.
06. Build Trust & Empathy
“Build Trusting and Empathetic Relationships”
—Sanjay Goel, CEO/Founder, NachoNacho
What is empathy? According to a 2009 study published in Brain, empathy “refers to the ability of an individual to understand another’s person’s mental state in terms of emotions, feelings and thoughts, which is important for an effective interpersonal interaction.”
Jim Rohn speaks about empathy in his down-to-earth manner: “Don’t operate on the heart with a hatchet.” And, he also talks about the importance of presence: “One of the greatest gifts you can give to anyone is the gift of attention.”
For many people, empathy and trust sound like big words. These seemingly vast concepts are evident in how we think, communicate, and act. They come through in how we smile, write emails, and stay present with a client or prospect.
In a way they are vast overarching principles that help us design purpose and meaning. In another way, they are forming our very nature. When we value empathy and trust, we make these our core priority. This shapes our lives, our relationships, and our ability to be successful.
Empathy is not something to add on as an extra sauce, like you might add a favorite hot sauce. It is at the center of your interaction. It is about making time to have an authentic, genuine connection with your prospect, client or partner. It’s meeting person-to-person, in a real way.
By prioritizing trust and empathy, you can transform routine interactions into genuine connection.
How can you get the most out of your co selling partnerships? Use the insights and best practices from 6 sales leaders. Understand your customers. Offer amazing co-marketing tools. Build strong relationships. Set joint goals and communications. Collaborate and keep an open dialogue. Build trust and empathy.
These 6 success principles form a related system of bringing human touch to our co-selling partnerships…starting with understanding and coming full circle to empathy and trust.
By optimizing your co selling partnerships, 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.io 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.