In August of 2023, in cooperation with Partnership Leaders, we introduced a groundbreaking piece titled, "Relationship Selling: A Guide to Accelerating the Co-Sell Motion." The guide sparked significant interest and spurred lively discussions within the industry. It included insights from a diverse array of thought leaders, including customers utilizing co-selling strategies, market analysts, platform vendors, and prominent partner leaders.
Ten months later, we're eager to assess its impact and performance. Are we meeting or exceeding the lofty expectations set forth? Where are we witnessing the most noteworthy successes? Equally important, what lingering obstacles hinder co-selling from realizing its full potential, as envisioned by sales and partner leaders?
To discover the answers to our questions, we wanted to check back in with the original co-sell thought leaders who were featured in the guide. Discussions with these leaders revealed five new insights that we are eager to share with you:
Another trend our conversations with co-sell thought leaders revealed is the consistent focus on account mapping.
Account mapping remains a crucial element in driving successful co-selling efforts. It involves identifying and aligning the accounts and customers of multiple companies to find opportunities for collaboration and revenue generation. Traditionally, this process was achieved through sharing spreadsheets, but now we have advanced co-sell platforms that automate and facilitate this motion. Co-sell platforms fully integrate with your customer relationship management (CRM) system, ensuring that all data is stored in your ultimate system of record.
The continued emphasis on account mapping is evident in Partnership Leaders’ 2024 State of Partnership Leaders Report, in which 50% of top industry experts reported account mapping as their preferred budget allocation for partner technology in 2024.
“The preference for account mapping tools reflects a strategic focus on identifying and leveraging mutual opportunities with partners for targeted growth, and the traction that leading providers of this technology have seen in the market,” the report states.
Here’s what the experts have to say about the current state of the co-sell landscape:
Discover how to develop an effective co-sell strategy and build a high-performing co-sell program in our joint video with PartnerTap. Then, discover the tips, tricks, and strategies that will help cultivate a successful launch.
Want to take a deep dive into mastering the co-sell journey? Check out our joint video with PartnerTap on how to approach co-selling, building and scaling high-performing co-selling programs, and creating a strong foundation for long-term co-selling success and faster growth.
The quote below was originally stated at the Channel Partners Conference & Expo in 2024:
Canalys released a co-sell software leadership matrix in December of 2023. Check it out here.
Co-selling is proving to be both an effective and complex tool for collective market growth. A successful co-sell motion requires strategic alignment, intentional planning, the right tech stack, and an active willingness to overcome inevitable obstacles. Our experts also agree that by opening up new markets and driving sales in ways traditional approaches may not, the joint sales motion’s rewards vastly outweigh the challenges.
We firmly believe the guide remains as pertinent today as it was upon its initial release. We invite you to join us in exploring the evolving landscape of co-selling and reaffirming its significance in driving business growth.
For sales leaders looking to embark on new avenues of market expansion through co-selling partnerships, understanding the go-to-market motion is paramount. In our comprehensive guide, we not only detail the ‘what’ and ‘why’ of co-selling but also provide actionable insights into the ‘how.’ We dissect the essential components of an effective partner co-selling strategy and offer a roadmap for executing a foolproof relationship selling plan.
Specifically, we delve into the indispensable realm of co-selling technology. Automation is key to attaining the level of success you envision, and understanding the co-sell technology landscape is crucial. We navigate through various technology stack categories, spotlighting top vendors in each, and provide industry expert recommendations for the ideal co-sell platform.
As with any impactful initiative in the industry, co-selling is multifaceted and demands a steadfast commitment and patience. Along the journey, numerous leaders, evangelists, and sales heroes will emerge, driving forward the collective pursuit of success.
Here’s what to expect:
Co-selling is a strategic endeavor with long-term rewards. Through collaborative sales approaches, cultivating enduring relationships with co-selling partners becomes achievable, consistently delivering value to your organization. At Spur Reply, we’ve seen firsthand that the most successful partnerships hinge on meticulous partner selection, robust relationship nurturing, and ongoing performance refinement.
Ready to embark on this journey? Dive into our comprehensive guide or schedule a chat with me. I'm passionate about discussing co-selling and all facets of go-to-market strategy. Let's explore the opportunities together!