*Tactics* for Turning Fluffy Partner Meetings Into Revenue-Focused Conversations
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Fluffy conversations, or as our CEO at Forecastable calls them, “squishy” discussions, lack what’s needed to push the needle forward and drive results in partner relationships. These conversations often hover around general inquiries about progress, with responses like “things are going well.” The partner managers then make broad assumptions about what ‘going well’ means.
However, to drive wins, you need more than surface-level exchanges. Whether to achieve retention targets, boost cross-selling initiatives, or secure bigger deals, partners must dig deeper and ensure they’re actively contributing to the shared goals.
Moving from Fluffy to Focused
Set Specific Goals
Revenue-focused conversations require shifting from vague statements to specific, measurable objectives. Instead of subjective assessments, partners should establish clear expectations and success benchmarks upfront in the partnership. That might look like bringing 20 qualified joint leads in the door, or it could be five or even one. Whatever the objective, when you walk into partner meetings, you should be ready for a revenue-focused conversation.
Monitor Progress and Troubleshoot
Let’s say you’re three weeks into a 12-week program, expecting to generate 20 marketing-qualified leads; a revenue-focused conversation measures progress against your goal. If you’re only at two, you’re tracking behind. This conclusion should lead to questions about why:
- Are we not getting enough top-of-funnel activity?
- Are we having win-rate challenges?
- Is the combined solution too much money?
Dig Deep for Solutions
A deep dive into why you’re not hitting your numbers can uncover opportunities to co-create solutions. Brainstorm ways to generate more qualified leads, identify areas for improvement in the sales cycle, or even refine the partnership’s value proposition to better resonate with your target audience.
Pro Tip: Consider meeting with sales reps about lost or stuck deals. Their insights can be invaluable in pinpointing roadblocks and developing strategies to overcome them.
In summary, start with a plan and alignment on expected outcomes, supported by success benchmarks, to measure progress objectively. Turning a fluffy partner meeting into a revenue-focused conversation is all about managing that plan and having detailed discussions about what needs improvement.
Qualifying Potential Partners
Initial partner conversations are another area that tends to be fluffy and filled with idealistic scenarios. However the reality is you have to work together to drive revenue – that’s the core objective. So, these initial discussions should focus on identifying co-sell opportunities that will drive joint wins and add value.
Identify Co-Sell Scenarios
Independent Software Vendors/Tech Vendors
Consider two paths for a revenue-focused conversation when evaluating Independent Software Vendor (ISV) or tech vendor partnerships.
One avenue is to analyze customer overlap data. If they have a large customer base, see where there’s potential for mutual value exchange.
- Does the partnership create a compelling value proposition for your target customers?
- Is their customer base one you want to attract?
- What’s your confidence in getting access to those customer accounts?
Alternatively, don’t overlook a partnership just because the company lacks existing customers.
The second approach is to explore innovations that give you a competitive edge in deals. If this exists, integration may be a good option (even if they have no customers!). Get feedback from the field regarding the tech’s potential impact on your sales cycles and test it out for effectiveness.
Services Partners
When engaging with services partners, your role is to assess their commitment and the value they bring to your organization. Understand if they’re building a practice or simply acting as referral partner with access to a specific customer base.
To ensure they deliver value, ask questions about their business plans and the role you play in them. Partners not focused on the right things may distract and frustrate your sales org or customer success managers instead of adding value.
Qualify their commitment; ensure it’s not a side hustle or a superficial play like adding logos to their website. Determine if they’re adding the right resources and committing to building a practice. If you’re having fluffy partner meetings and then allowing the fox in the henhouse, you’re doing a disservice to your entire organization.
Revenue-Focused Qualifying Questions
To have revenue-focused conversations with services partners, ask:
How many partners or SaaS companies do you partner with today?
A high number of partners with limited resources (sales reps) might indicate a scattered approach. At the same time, a low number of partners with many sales reps and great credibility can offer real value.
What percentage of your revenue would be associated with our product this year?
Get a feel for whether it’s a big or small portion. Ask what the growth potential is in the next year and beyond.
What quota do your sales reps maintain (and how many sales reps do you have)?
By asking about quotas and sales rep size, you can estimate a partner’s revenue and assess if their expected deals from you are realistic.
For example, a partner tells you they expect 25% of revenue to come from this new partnership, this year. They tell you they have 5 sales reps at an $800,000 quota. You can then figure their target for the year is about $4 million. If they’re expecting 25 percent to come from your services, that’s $1 million.
You may know a typical services package is only $10,000 – are they going to close 100 deals this year? Is this expectation reasonable and achievable?
Don’t hesitate to challenge responses to gauge capacity and commitment. Ask their plans around the initiative, including how many marketing dollars they’re putting towards it.
A note on certifications:
Focus on the partner’s overall practice health (which means a healthy EBITDA), not just certifications. Look for a solid commitment to structured co-selling activities and investment around your solution.
Conclusion
These tactics, from having goal- and solution-driven conversations with your partners to vetting initial partnerships, you can quickly turn those fluffy partner meetings into revenue-focused conversations. Qualifying potential and existing partners through detailed discussions and executing partnership plans with clear success benchmarks validated by the sales org is vital.
Remember, during partnership meetings, stay focused on those metrics. If you’re not hitting the objectives, dig deep to learn why not. This approach will transform fluffy conversations into revenue-focused ones that benefit everyone in the co-selling partnership.
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