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FOUNDER’S GUIDE TO B2B SALES Partnering is a complex but essential activity sometimes seen as a “dark art” in B2B sales. In this section, we will try to demystify it with a clear introduction to the basics. GOALS OF PARTNERING IN B2B SALES GOALS RESULT IMPROVE REACH Get access to customers your direct sales force can’t reach (e.g. international distribution). REDUCE COST Sell more efficiency by enabling others to sell your product OF SALES or service. GENERATE Get referrals into deals (e.g. get your expense management PIPELINE software included as part of a larger finance transformation initiative being led by a systems integrator). IMPROVE Share the cost of marketing campaigns with partners (e.g. joint webinars) MARKETING or mitigate costs of major events (e.g. selling sponsorships). EFFICIENCY EASE The ability to hire and onboard salespeople quickly becomes SCALING a limiting factor in B2B growth. DIVERSIFY REVENUE Make overall results more predictable by spreading risk across SOURCES channels. For example, embedded resale (OEM) agreements can provide a stable keel on your new sales. TYPES OF PARTNERS Many people try to classify companies as partners but it’s preferable to classify relationships. This is because, as you scale, you will often find you have multiple relationships with a single, partner company. Take Deloitte as an example. You might have a worldwide SI implementation partner relationship, an embedded OEM relationship in Europe (where they embed your product in a financial solution), and channel sales relationship in Asia where they sell your software outside of packaged solutions. Partner relationships tend to fall into one of two types: Alliances – these are partners who collaborate with you, but do not sell your software They work with you on deals, and may do joint marketing but they do not “take the paper” on customer orders. Example • A regional system integrator who refers you into deals in exchange for the right to perform the associated implementation services SPRING 2023 .46

BALDERTON The Founders Guide to B2B Sales - Page 46 BALDERTON The Founders Guide to B2B Sales Page 45 Page 47

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