Co-selling is an art and a science. Let’s explore what you can do to develop the right set of skills and pave the way for a successful career.
How Do You Identify Your Best Co-Selling Partnerships?
Let's explore why industry leaders are actively focused on co-selling to boost sales, create new opportunities & build powerful relationships.
Working with co-selling partners is a brilliant way to boost sales, create new opportunities, and build powerful relationships. Partnerships often move into over-drive because they create new opportunities.
These opportunities enable you to work with people who have different resources, unique perspectives, and new pathways to connect with customers.
Recently, at CoSell, we surveyed sales leaders and asked this question: “How do you identify your best co-selling partnerships?”
Their answers resonate with what we’re hearing from many clients and seeing in recent industry trends.
Let’s explore this in detail to understand why industry leaders are actively focused on co-selling.
Exceptional Value and Profitability
No question, the responses from top leaders confirm what you already know: working with partners is the key to exceptional value and profitability. Collaborative selling gives you the ability to grow, scale-up, and keep a competitive edge.
As we move forward in 2021, we are looking for ways to ramp up collaborative selling, build new partnerships, and support existing ones.
Let’s look at some of the best practices that emerge from successful sales leaders.
01. Understand Your Customers
“I believe success begins with understanding your customers. That’s how you help them become wildly successful.”
—Jon Parisi, VP, Sales, Observe
Co-selling takes on new dimensions the more you understand your customers. You ask different questions and shift perspective to deeply get to the core. What are their problems? What are their dreams? By starting from your customer’s perspective, you can create entirely new solutions.
If you’ve been looking from the standpoint of a tech provider, go further and consider different viewpoints. Listen to and talk with your partners, vendors, and manufacturers. Use what you discover to expand your thinking and explore new options.
Your customers are looking for ways to be more resilient in today’s business environment. They are seeking ways to simplify their lives, speed up results, and have peace of mind. When you and your co-selling partners find solutions that deliver on these goals, everyone wins.
02. Promote Together
“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 pieces of training. Look at ways to co-promote online events to broaden your audience.
Additionally, share information internally so that sales reps can 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 Trust and Empathy
“Build trusting and empathetic relationships”
Sanjay Goel, CEO/Founder, NachoNacho
We often think about trust and empathy in personal relationships. It is crucial for building exceptional relationships with external partners. Trust often comes through working together, navigating through challenges, and growing together.
Many of the same guidelines from personal interactions apply to professional ones. Building trust often starts with simple actions. Saying what you mean. Doing what you say. Following through on promises. Being meticulous about keeping commitments for time, energy, and focus.
Responding with empathy also shows in the small details as well as the bigger picture. Listening. Supporting. Relating. Being present. These behaviors demonstrate your genuine care and empathy.
Naturally, as you achieve milestones and partnerships lead to successful engagements, the relationship grows stronger.
04. Explore Alignment
“Look for alignment in business experience. Look for alignment with values, alignment with common prospects, and complimentary services.”
—Eric Keosky-Smith, Chief Growth Officer, Hownd, Inc.
Alignment is the starting ground for successful partnerships. The most successful partnerships often start with a shared sense of purpose, values, and customer.
When you’re working with professionals who have this alignment, you’re discovering natural overlaps of your business experience, outlook, and approach to collaboration.
By starting with this common ground, you’re likely to experience a faster momentum in your partnering. You will be speaking the same language. You’ll have parallel understanding and experience. This kind of alignment makes it easier to share resources, share purpose, and share results.
“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 get. Consider some of the options such as teaming, mentoring, training, and coaching.
You could provide your partner with experienced sales reps who can 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 the 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 cross-sells to existing customers.
06. Double Down
“Double down on the ones that are invested.”
—Scott Britton, Co-founder, Troops
If you’re looking for really boosting value, focus on the partners who are already highly invested. Focus on your most trusted partners.
In many ways, this is something that makes perfect sense. You’ll utilize your already existing understanding of your partner’s strategies and businesses. You’ll strengthen an already strong relationship. Plus, you’ll find new ways to bring benefit to your customers. This can be exceptionally profitable—and a very smart idea for this time.
By joining forces with your most trusted partners, you’ll magnify the power of what you offer—and position your partnership for ongoing success.
Using these best practices is a powerful way to identify your best co selling partnerships. At the same time, you’ll grow trust, increase understanding, and strengthen relationships with your partners.
By optimizing your co selling performance, 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.