bChannels Best Practice Update
JOINT PARTNER PLANNING Alistair Aitchison is an experienced sales trainer and coach. He helps large technology vendors establish joint opportunity management processes with their channel partners. In this Best Practice Update we discuss the techniques used by leading vendors to increase their partner sales pipeline and ultimately close more deals.*
Why does this matter? Joint sales planning with channel partners can radically improve account penetration and increase deal conversion rates. “A partner might be generating ten leads per month, and only closing three – achieving a 30% conversion rate,” says Aitchison. “Establishing a joint sales process can lead to a much higher rate of conversion. Rather than chasing all ten leads, the partner may now pursue only seven of the higher quality leads through applying a more stringent opportunity qualification process, and find that they now close four. A 60% conversion rate.” Aitchison is coaching organizations to adopt a shared sales methodology, so that account planning and lead identification processes can be worked on by vendors and key partners together. “Sometimes the vendor and partner are not talking the same language,” explains Aitchison, “a shared approach can help to overcome this issue”. What is the best sales methodology? Popular sales methodologies are available from many organizations including TAS, Miller-Heiman, LSI, Holden and Huthwaite. These organizations offer proprietary tools using standardized formats for opportunity and account planning. “For me simplicity is the key,” says Aitchison, “that is why I like the Sales Opportunity Snapshot (SOS) approach from Learning Solutions International**. With this highly visual sales tool you can complete an opportunity management plan in under thirty minutes.” “Whatever methodology you use,” says Aitchison, “the key to your success is that you share your approach with your key channel partners to develop their skills too.” Joint opportunity and account planning “This joint approach is particularly important for partners trying to win larger deals,” Aitchison points out. “Deals under $100k are usually sold at a departmental level with few influencers involved. With larger enterprise deals however, the decision often involves many more technical and commercial influencers from across the organization. This is where partner sales teams can lack confidence.” “We call this multiple-influencer selling,” explains Aitchison. “The vendor needs to be working with the partner sales team in the customer organization, mapping the key influencers, understanding their key issues and priorities. The sales methodology helps the partner to work with the vendor to create influence using a common toolset and approach to sales”.
Gaining partner commitment Aitchison advises that most successful joint account planning initiatives start small and grow. “The first step”, he says, “is to find a person in a partner organization who understands the problem. Hopefully they will recognize that there is a lack of process around development of large customer accounts and will want to do something about it.” The sales methodology, supported by the vendor, will start to bring structure to the customer engagement and success will follow. Soon the news will spread and others will want to experience the benefits. It’s much better if this drive for standards and sharing comes from the sales team, not from management.
bChannels Analysis Joint partner account planning does not need to be complex, nor does it require sophisticated tools. Popular methodologies, supported by appropriate training and coaching, can be used very effectively to increase account penetration and to improve conversion rates. A shared sales process, toolset and language helps vendors and partners to work together to drive success in more complex sales situations. In today’s challenging economic environment this joint approach to selling can build partner loyalty and drive new business.
bChannels is a specialist in the development and management of indirect partner channels for companies in the technology market. We work with many of the world's leading technology businesses. Every quarter we run an Executive Forum where we bring together a small group of senior channel marketing executives from noncompeting vendors to discuss a specific issue and share best practice.
bChannels Executive Forum 2008 ‘Selling Services through Channels’
If you are interested in attending an Executive Forum, or you would like to know more about our services in general, please contact Matt Rowland-Jones on +44 (0) 1865 368587 or matt@bchannels.com. You can also visit our website at www.bchannels.com. * Alistair Aitchison can be contacted on info@aitchisonassociates.com. ** The SellXL methodology can be reviewed at www.sellxl.com.