Partnerships NOW

VOLUME 1 - March 2023

Welcome to the Partnerships NOW LinkedIn Newsletter and thank you for your interest in the first edition. This 1X monthly send is curated by partnership thought leaders who are elevating ecosystems everywhere. In this newsletter, they share their opinions, trends, and advice to help you move your partnership efforts forward.

Looking back at 2022, partner ecosystems experienced significant growth and are expected to keep pace in 2023 despite economic challenges. Forward-thinking partnership leaders are now evaluating areas to focus on and whether there are untapped opportunities worth exploring. But guidance and insights are still needed as we move out one quarter and on to the next.?

Forward-thinking agendas for partner teams

Between inflation, supply chain issues, and global conflict, businesses and their respective indirect channels have quite the unprecedented year ahead of them. What changes would you recommend for forward-thinking partner teams aiming for success despite the challenges of our economic landscape?

“There needs to be a significant emphasis on KYP (Know Your Partner) and the evolving skills of a Channel Account Manager (CAM). The days are gone when a CAM would be responsible for top-of-funnel (TOFU) forecasting and pipeline reviews. Now, not only is there TOFU but also a new modern approach on how to add value outside of the sale. Partners are no longer prioritizing calls from CAMs where the topic is only about quotas and meeting sales goals. Many times, the vendor the CAM represents has a great partner relationship narrative to share but it gets completely lost when the CAM talks with their partners because the CAM has a monthly sales number to meet. Partners want to talk about growing their business separately from marketing drip campaigns. Responding to this, many tech vendors are hiring business consultant coaches as part of the channel team. Partners are excited for this because the conversation is much deeper into acquiring new business versus meeting monthly sales metrics.” - Meredith Caram, JS Group

“It is always good practice to be thinking about the long-range plan for partners and partner programs. This year, post Covid, but in turbulent times, it’s time to evaluate what’s really important for your partner ecosystem. I would advise partner teams to lean into the relationship aspect of partner management and focus on collaboration with partners to let them know they aren’t in this alone. This is also a great time to double down on customer success and skills development. Above all, realize that change is the only constant, so being flexible to respond to partner needs will help you ride out 2023 in style.” - Jessica Baker, AchieveUnite

“Deeper, more aligned partnerships. This means potentially focusing on fewer partnerships in 2023, advice counter to those recommending that you hedge your bets with a wider focus. Layoffs could push partners to reprioritize where they shift headcount, or rethink what resources they have to execute partner activity. Don’t assume that plans, even ones from the end of 2022, are still relevant. Revisit what you want to achieve together in an open and honest format, focusing on immediate opportunities, but still with a multi-year view. Double down on the partners where your outlook and resource commitments can align, being clear about changes to how you will work together. This may mean pulling back on activity with some established partners until their outlook is more certain while investing in newer partnerships where you can build momentum.” - John Lojek, Google

“In challenging times, companies with strong partner networks typically fare better than their direct sales counterparts. I recommend partner teams listen to their partners to hear their challenges, and work to support partners to understand and engage the changing markets.” - Donagh Kiernan, Tenego

“Successful partnerships are built on common values and business outcomes. Partners should evaluate all partnerships and fit within each other’s overall strategy capabilities, resources, and offerings. Each partnership should have stakeholder alignment and an appropriate business rhythm to evaluate if the partnership is driving the successful outcomes both expect. All partnerships should have some partnership business plan that covers the strategic, tactical, and daily execution of short- and long-term success. All partnerships should also discuss their marketing strategies including the use of digital and social.” - Brian Galicia, Microsoft

What industries do you believe will dip their toes or need to take a swim into the partnership model? In other words, where will the adoption laggards come from?

“Many laggard sectors have learned new skills through the pandemic, with remote working and remote sales greatly forced lessons that many will continue to develop. This will likely lead to new partner models in these industries with local supports. I'd like to see the traditional sectors like industrial products and previous local services driven product companies.” - Donagh Kiernan, Tenego

“Industries with regulatory barriers, legacy systems, cultural resistance, or under leveraged skills and resources to adopt new technologies will evaluate partnerships to scale growth. These industries such as healthcare or education may have opportunities to benefit from partnerships with other companies that can provide them with ready-to-use solutions that can improve their customer experience and outcomes.” - Brian Galicia, Microsoft

The up and coming of partnership strategies

According to a recent?Canalys?poll?,?72% of channel partners are optimistic about revenue growth in 2023.?Given this optimistic perspective,?what recommended test and learn partnership strategies would you provide to established partnership teams??

“With changing business models, the vendor-partner fit, and ideal partner profiles need to be reviewed taking in the full customer journey or ecosystem approach to determine the companies types, partner propositions and the partner enablement required.” - Donagh Kiernan, Tenego

“Before implementing any test and learn partnership strategy, set aligned expectations of what you want the partnership to achieve. Ensure there is stakeholder buy-in and determine the performance indicators that will be evaluated within certain timelines and parameters. Strategy could include expansion of successful marketing tactics that worked in prior years or use of emerging digital tactics like Social Audio (Twitter Spaces, LinkedIn Audio) or Video (LinkedIn Live) to amplify the value to joint customers of the partnership.” - Brian Galicia, Microsoft

Given the unfortunate industry layoffs, what advice would you give to impacted partnerships professional looking to not only recover but prosper?

“With uncertainty in the market, partner networks are more important. I recommend partnership professionals to broaden their views on the changing partner models, and their skills can be applied across many sectors. For Vendors, do more with and for partners. Listen to them, learn from them, facilitate partners to support each other and adjust to the markets.” - Donagh Kiernan, Tenego

“As unfortunate as the situation is, this is the best time to identify what you like to do. Take an inventory of where you excel, and where you want to go, then dive into your network. Really DIVE! Reach out to past colleagues or influencers you identify with. Have conversations and get excited. Your personal brand can open doors for you, and when they do open, step in and be persistent. I know it is tough, but some of the best conversations I’ve had recently are with past colleagues who have been laid off. And while I may not have a position for them right now, I’m willing to introduce them to my contacts and remember them in the future. This is your opportunity to shine!” - Jessica Baker, AchieveUnite

“Focus on what you can control, such as updating your personal brand, resume, learning new skills or applying for jobs. Critical to leverage digital/social such as LinkedIn while seeking support from your professional and personal network, such as friends, family, coaches or mentors. The network can include exploring working within your partner ecosystem. Don't be shy to ask for help.” - Brian Galicia, Microsoft

What’s to come in 2023…

What are you most looking forward to when it comes to partnerships this year??

“The most exciting thing on the horizon for partners, partnerships and the business of channel overall is Artificial Intelligence (AI). The next inflection in our world will be centered around an AI-Driven Channel, what AI can do for partner success, and how partner teams enable success. The application of AI will change the way we do business and go to market with partners and channels. If you think things move fast now, just wait until AI drives the pace.” - Jessica Baker, AchieveUnite

“I am looking forward to the expansion of marketplaces through the ability of partners to drive transactability which includes the ability for partners to sell software licenses through the marketplace. Marketplace transactability has many benefits for both publishers and customers. For publishers, it can help them reach more customers, simplify billing and invoicing, and leverage sales channels. For customers, it can help them find, try, and buy solutions that meet their needs, without the dependency to interact with sales.” - Brian Galicia, Microsoft

“I see the biggest challenge with many vendors starting in partnering, is what they think they know, and not seeking or engaging best practice approaches to building their partner program. I pray that 2023 is the year many CEOs and Sales Leaders learn that Building Partner Programs is a specialist capability that brings them faster success .” - Donagh Kiernan, Tenego