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Partnering Under the Influence
The
final stretch of any Presidential campaign is heated, but
these last few weeks have been noted for lighting a fire
under even the most cynical and apathetic voters. While
every vote counts (and is sometimes recounted!), the countless
tools that a candidate leverages to get our vote are less
clear-cut.
The
factors that influence us to fill in that little oval for
one candidate or another are complex and highly personal.
The candidates have been promoting themselves for two years
(talk about a protracted sales cycle!) and utilizing a variety
of devices to influence our opinions.
While
debates and the news media represent potent weapons in the
arsenal, many voters rely on endorsements by organizations
or references to people with whom they identify. Whether
it's Joe the Plumber, Hockey Mom, or Oprah, voters are looking
for a match with their "buying requirements" and
value system.
Customers
of our products and services are no different. While we
must meet the acid test for delivering against business
requirements, customers rely on plenty of other influential
sources of information as well. These frequently include:
When
identifying influences on your sales cycle, one of the
important questions to answer is the degree to which your
offering drives the purchase decision, or whether it is
a supporting component of a larger solution. As a solution
component, your channels strategy should be at least as
focused on influencers as it is on the partners that resell
your offering. Unfortunately, however, many companies shy
away from investing in influencers because measuring the
impact of that influence is challenging.
Partnering
with influence channels is challenging, but
avoiding them limits your market reach. Hardware companies,
for example, frequently grapple with supporting a software
partner that doesn't resell their hardware, as the tracking
of ROI can be obscure. But, companies that don't consider
influencers a legitimate channel to be courted, and in which
investment is required, will be left at the tail end of
the sales cycle to pick up the scraps.
Of
course, the trick is in how to make those critical decisions
about which influence channel to invest in, and how much.
Here are some tried and true ideas for helping you focus
those investments.
1)
Define Your Role in the Solution - What
does the solution look like
from the customer's point of view?
Draw a circle and plug in the elements.
Where does your product/service fit,
and what are the other critical
elements? Of those critical elements,
which are driving the sale, and 
which are supporting it? If your
offering supports (as opposed
to drives) the solution, then
partnering with the drivers of
the sale is critical. This
exercise defines your partnering
ecosystem and helps identify the
players with which you may want
to partner. When Presidential
candidates choose their running
mates, for instance, they put a
big premium on filling a gap in
their own skill set, or selecting
someone who will resonate with
new constituents.
2)
Cast a Narrow Net -
It isn't critical to partner with every player in
the ecosystem, just the most credible
to your target customer. Then,
remember that building a trusting
relationship with those influential partners
takes time. Influence partners need
to feel confident that your component
will deliver for the customer so
they're not putting their necks too far out on
the line. Case in point: Colin Powell
took a long time before he endorsed
Barack Obama.
3)
Influence Counts, But You Can't Always Count Influence
- While
it's not impossible to attribute
revenue to influence partners, it's not
easy. Some companies set up registration
programs that allow reps and
partners to keep track of who's playing
where and when. These systems
are fine and helpful when done right,
but don't let the lack of an automated measurement
system stop you from courting and working effectively
with influence partners. For
instance, it's OK to pay your account
managers for MBO activities until
which time you can truly measure and
trust your systems to do so for you.
After all, if the candidates put all their
stock in the polls, they'd have gotten
out of the race a long time ago.
May
your partnering initiatives be filled with influencers that
help you stay ahead of the curve, and may you in turn be
influenced to pencil in that oval come Tuesday!
Clients
Seeking Candidates
Several
of our clients are looking for candidates to fill the
following positions:
-
Director
N.A. Channel Marketing - Boston, MA (new!)
-
Director
Product Marketing - Boston, MA (new!)
-
Sr.
Marketing Manager, Database Marketing - Boston, MA
(new!)
-
Director Marketing Strategy & Intelligence
- Boston, MA
If you know of anyone who might be interested,
please have him or her contact us for more
information.
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Thoughtwav
helps companies build and execute profitable go-to-market strategies
through direct, partner and alliance channels.
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 email:
jwilkinson@thoughtwav.com
phone: 781-652-8727
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