- October 22, 2024
- Posted by: Channelnomics
- Category: Podcasts & Videos
Making co-selling an efficient and practical reality takes collaboration and coordination. Companies like PartnerTap marry account mapping and co-selling to make ecosystems work.
The concept of co-selling has gained momentum among vendors looking to tap into the potential revenue gains of selling through ecosystems. Companies no longer operate in isolation; instead, they collaborate to achieve common goals by leveraging each other’s resources, market reach, and capabilities. However, facilitating co-selling in a channel ecosystem isn’t just about joining forces on paper; it requires strategic alignment, effective account mapping, and, most critically, trust among partners.
In its simplest form, co-selling refers to two or more companies collaborating on a sales opportunity to deliver more comprehensive solutions to customers. For companies, the draw of co-selling lies in its promise of increased market reach, bigger deal sizes, and enriched customer experiences. When done effectively, co-selling can be a force multiplier, expanding each partner’s influence and accelerating revenue growth. Yet, as simple as the concept sounds, putting it into practice often presents challenges.
One of the primary obstacles is identifying and prioritizing which accounts to target collectively. Traditional methods of account mapping are time-consuming and prone to errors due to manual processes. Partners must align their sales teams with shared objectives and identify overlaps in their customer bases to identify strategic opportunities. This process often entails wading through spreadsheets and manually cross-referencing account information — a practice that’s inefficient and can lead to missed opportunities.
Moreover, the success of co-selling hinges on the willingness of partners to share data — a sensitive area for many companies. Partners may hesitate to disclose account details out of fear of encroachment or competitive risk. Establishing a “safe zone” for sharing information requires a foundation of mutual trust, reinforced by secure data-sharing mechanisms and clear boundaries to protect each partner’s interests.
Automating the process of account mapping and creating a structured framework for collaboration can significantly reduce friction. This is where platforms like PartnerTap’s come into play. By automating the identification of white spaces — accounts that aren’t being actively pursued by either party — these platforms enable partners to focus their efforts where they’re most likely to achieve success. Automating initial alignment allows sales teams to quickly pinpoint low-hanging fruit and focus on areas where their combined solutions offer the most value to customers.
Co-selling, though, isn’t merely about efficiency; it also involves fostering a collaborative culture. Partner success hinges on how well sales teams from different organizations work together. Training on best practices for co-selling, including joint account planning, shared sales plays, and aligned incentives, can ensure that collaboration moves beyond surface-level commitments and leads to genuine results. Leaders must recognize that co-selling requires an ongoing investment in both process refinement and relationship building.
To address these challenges, companies must be intentional about integrating co-selling into their overall go-to-market strategy. This means not only leveraging technology to streamline collaboration but also aligning culture and incentives to foster deeper partner engagement. Co-selling isn’t a quick fix, but when done right, it offers a path to exponential growth and shared success.
In the latest episode of The Network Effect, host Larry Walsh spoke with Cassandra Gholston, CEO of PartnerTap, about these very issues. The conversation delves into the nuances of co-selling and account mapping in today’s complex partner ecosystems. Gholston shares her insights on building trust, aligning incentives, and embracing data-driven collaboration. To explore these insights in more detail, tune into the full episode at the link below.