In this article you’ll learn:
In today's hyper-connected business landscape, partnerships play a vital role in driving long term growth and capturing market opportunities. And the only way to fully capatilize on the power of partnerships is with Nearbound.
Nearbound is a Go-To-Market strategy that enables organizations to close deals faster and achieve faster revenue growth by leveraging the power of ecosystems and building upon established trust.
However, despite its undeniable potential, implementing Nearbound successfully requires the support, partner buy-in, and active involvement of partner teams.
While Nearbound uplifts everyone in the ecosystem, it necessitates turning partners into co-collaborators and champions. Convincing partner teams of the power of Nearbound is crucial for realizing the full benefits of this transformative strategy.
One of the main challenges in getting partner teams to embrace Nearbound is the potential lack of adequate communication regarding the value it brings to each team. When introducing a new strategy like Nearbound, it is crucial that you address the specific concerns and priorities of partner teams and demonstrate how it aligns with their objectives.
Nearbound can’t be done solo, the more partners you have the more value you’re going to get from your ecosystem. You need champions in every department, including leadership, to leverage the full power of Nearbound.
When you are the sole advocate and user of Nearbound within your organization, it can lead to various issues that can hinder the strategy's effectiveness and overall success. Issues such as:
To mitigate these issues, it is essential that you operationalize a buy-in process to create Nearbound champions. This will foster a culture of partnership and collaboration throughout your organization and your partner teams.
You should work towards creating awareness and understanding of Nearbound among partners’ teams, highlighting its benefits and aligning it with their goals.
By encouraging active participation and providing the necessary resources and support, you can transform partners into co-owners of the Nearbound strategy, driving unified efforts and maximizing the potential of the ecosystem for mutual success.
Here’s what you can do to get your partner’s buy-in:
Education and training programs
Invest in comprehensive education and training programs to ensure that your partners’ teams understand the concept, benefits, and implementation of Nearbound. Provide clear explanations of how Nearbound aligns with their objectives and demonstrate its value in driving revenue growth.
Establish open and transparent communication channels with partner teams. Regularly share updates, success stories, and case studies that highlight the positive impact of Nearbound on other partners and the organization as a whole. Address any concerns or skepticism, and actively seek feedback and input from partner teams to foster a sense of ownership and collaboration.
Alignment of goals and metrics
Align Nearbound objectives with the goals and metrics of your partner teams. Clearly communicate how Nearbound can enhance their performance, generate NQLs (Nearbound qualified leads), improve conversion rates, boost partner-influence revenue, and contribute to their overall success. Collaboratively set targets and establish KPIs that align with the shared vision and ensure ongoing evaluation of Nearbound's effectiveness.
Provide your partner teams with the necessary resources, tools, and support to effectively implement Nearbound. This may include dedicated personnel, training materials, marketing collateral, technology platforms, and access to partner networks. Ensure that your partner teams have the means to seamlessly integrate Nearbound into their existing processes and workflows.
Encourage collaboration and co-creation
Foster a culture of collaboration among your partner teams and encourage the co-creation of content, joint marketing initiatives, and shared resources. Facilitate regular meetings, workshops, and forums where your partner teams can collaborate, exchange ideas, and share best practices. Encourage cross-functional partnerships and highlight the benefits of collective efforts in driving success.
Recognition and incentives
Recognize and celebrate the achievements of your partner teams who embrace Nearbound and actively contribute to its success. Provide incentives and rewards that align with your partner team objectives and motivate them to fully engage with Nearbound. This can include financial incentives, recognition programs, exclusive access to resources, or opportunities for career growth within the partnership ecosystem.
Continuous evaluation and improvement
Regularly evaluate the effectiveness of Nearbound implementation and its impact on partner teams and overall business outcomes. Collect feedback, analyze data, and adapt strategies accordingly. Embrace a mindset of continuous improvement, iterating on approaches, and refining tactics based on lessons learned and evolving market dynamics.
You’re the key to making Nearbound a success, but you never have to do it alone. We’re here to help you make everyone in your partner ecosystem a Nearbound champion.
Creating Nearbound partnership champions involves empowering and motivating partner teams to actively participate and excel in the implementation of the strategy.
Here’s how to turn your partners into Nearbound believers:
If your partners' teams aren’t fully convinced about joining your Nearbound strategy, all you need to do is to mention that Nearbound helps to identify the best potential partners to drive an increase of 2x their revenue.
To create Nearbound sales champions, it's essential to empower and enable sales teams to leverage the power of partnerships effectively.
And if that is not enough, you can always pull out this joker to leverage joint open deals:
Your Sales team only needs to compare stakeholders involved on both sides and identify the ones you’re not speaking with, or get introduced to the partner AE and strategize together on the joint value prop and comms. The result, from our experience, will be a 41% average increase in deal size and a 43% increase in the average win rate.
To fully unlock the potential of Nearbound, it is vital to have marketing teams who champion and effectively implement the strategy. Here’s how to get marketing's buy-in:
The best thing about Nearbound is that it opens doors that without partner influence, those opportunities won’t exist, for example:
You have a cold prospect that has been “ghosting” you for the last 4 months. Well, here’s what you can do: double your marketing efforts and re-engage or send ABM campaigns about the synergies with your partner. Your prospect is buying your partner’s solution, meaning that is investing in your ecosystem—which is a big opportunity to generate an open opportunity for your Sales team.
As you can see, a clear communication process is key to creating champions in every corner of your organization. And what better way to communicate than adding Nearbound intel to your single source of truth, your CRM. Reveal puts that Nearbound intel at your fingertips.
One way to get your partner teams onboard is to give them access to the Nearbound data they need to successfully achieve their KPIs. The best thing you can do is introduce them to a platform that can help them identify and prioritize potential partners.
In Reveal, you can use the Nearbound intel in your partner’s overview, where you and your partners can prioritize by the percentage of each Market and Persona overlap, Win Rate, and Revenue Potential.
AEs can use the Get Intro buttons in Salesforce and HubSpot CRMs to immediately send a request to the Partner Manager for a connection to that partner. This provides connections and intel that they would previously have been restricted from.
What this does is uplift the processes and strategies they are already using. Sales teams don’t have a heavy lift—they are embedding their current pipeline with even more support on the accounts that matter to them, in addition to adding more accounts to their pipeline.
Give your AE the power and control of working on the accounts they both want to work on and that will close 35% faster.
Marketing teams are tired of wasting time and resources on campaigns that fall flat. They have KPIs for MQLs they need to meet, but with the constant noise of inbound and outbound strategies in the wider market, they are struggling to do so.
Nearbound intel that can help them tailor their outreach and marketing campaigns.
We know it’s hard to introduce another tool to your partners and their teams, so in case they need a little push to be onboarded in Reveal, here’s what you can do:
Getting your partners' teams on board with Nearbound requires a strategic and collaborative approach. By empowering partner, sales, and marketing teams to become champions of Nearbound, you can maximize the potential of this Go-To-Market strategy and drive mutual success within the ecosystem.
Nearbound's potential can only be fully realized when partner teams are actively engaged and aligned with the strategy. To overcome potential challenges and create Nearbound champions, it is crucial to address communication gaps, align goals, provide resources and support, encourage collaboration, recognize achievements, and continuously evaluate and improve the strategy.
Ready to unlock the full potential of Nearbound and revolutionize your Go-To-Market strategy?
Book a demo and accelerate your growth with Nearbound.
This mastermind is for all partnership professionals who want to optimize the daunting process of creating partnership agreements. Learn how to optimize your contracts to accelerate your partnership acquisition process.