Bold Journeys Podcast

What makes a successful company decide to shift their business from direct to channel? In the case of 8×8, it was the vision of the CEO who saw the channel as the way to take the company to the next level. In this episode, the last one of 2019, I have the real pleasure of interviewing 8×8’s head of global channels, John DeLozier. In just a year and a half, John and team have gone from 100% direct to over 60% of the business going through the channel. John shares how 8×8 is making the shift to 100% channel with the help of a mind-blowing partner program they call Elev8.

We want to feel the dirt with our partners. We want to understand their environment, their battlefield, where their rubber meets the road, where they make the sales. @jldelozier3
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We care about getting our software to the world, whether that's through a master agent, a VAR, an MSP, or an alliance partner…Let them decide how they will take it to the world. We just want them to do it. @jldelozier3
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We believe in our partners, we support our partners, we are with our partners, we aren't looking at the things that we don't need to look at, we just want them to be successful. @jldelozier3
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This episode marks the one year anniversary of Channel Journeys! I’m honored to welcome Tiffani Bova, the growth and innovation evangelist at Salesforce and one of the top influencers in IT as my guest. Driving consistent channel growth in this era of digital transformation requires new ways of thinking. Tiffani is a thought leader on the topic of business growth and innovation. We discuss 5 paths to channel growth, applying the strategies from her bestselling book Growth IQ. You’ll learn that the path to growth is never about doing just one thing. Successful companies execute a combination of Growth IQ paths in a well thought out sequence.

These 5 channel growth paths can be used in combination very effectively. Just make sure you apply them in a logical sequence.  

The question is not whether you should have partners. The question today is, what kind of partner do you need? Do you need an ISV partner? Do you need a resale partner? Do you need an integration partner? Do you need a referral partner? You may need all of these types. As business models evolve, we have to continue looking at new partner models.

Many vendors have a protectionist, shortsighted view that prevents them from partnering with companies perceived as competitors. Zero-sum game thinking prevents companies from achieving faster growth. You have to believe that 1 + 1 = 3. And you have to take the customer’s perspective. Figure out what and who it takes to provide the end-to-end solution that gives your customers the business outcome they are seeking. 

Market acceleration is about expanding into new markets with existing products. Leveraging local sales and delivery partners is an excellent way to open new markets without the heavy investment of doing everything yourself. But first you have to make sure you have everything in place to support those partners. Do you have your website and documentation translated? Can you provide product support? Do you have partner enablement resources?

Product expansion is about selling new products into existing markets. Leveraging partners to build new offerings on top of your product or platform allow you and your partners to both focus on what you do best. Salesforce does a great job of this with their app exchange program.  

Streamlining your sales efforts to increase productivity can be even more effective than adding more sales resources. In the channel, look for ways to automate the administrative tasks that can consume over 60% of your channel manager’s time. 

The path to growth is not one thing. It isn't just partnerships. It isn't just competition. It isn't just customer experience. It isn't just getting better about selling. It's all of them. @Tiffani_Bova
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…I put customer experience at the front of Growth IQ because behind every decision you make should be a customer. @Tiffani_Bova
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Growth has less to do with your sales process or what you're selling. It has everything to do with how your customers feel when they engage with you. @Tiffani_Bova
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What do you think the partner of 2023 or 2025 is going to look like? Let Tiffani know by connecting with her on LinkedIn or Twitter.

The “SaaSier” your business, the more likely you need non-traditional channels. And the non-traditional channel everyone is talking about is the “shadow channel”.  This week I’m talking with Dave Taylor, Impartner’s gregarious Chief Marketing Officer. We discuss how to reach and motivate this emerging influencer channel through referral-based programs.

Onboard faster and offboard slower. Make sure partners meet the terms and conditions and they're willing to invest the way you are going to invest in them. -Dave Taylor
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Whether your referral partners are managed or unmanaged, you need a lot of automation, because you're managing the payments and communications. -Dave Taylor
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Being metric-based in how you manage your channel is one of the most important things that can happen because it eliminates all the hunch and variability. -Dave Taylor
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Think you know what it takes to become more influential? To find out, I interviewed Janet Schijns, CEO of the JS Group and winner of the Channel Partners 2019 Channel Influencer of the Year award.  We talk about social influence and why it’s hugely important for your personal and professional brand. Janet shares the three steps she took to build her influence and win the Channel Partners award leveraging her social media strategy.

Successful social media is a mindset. It can be uncomfortable at first but change nearly always is. You need to have some fun with it and you need a plan.  Here are the three key elements of your social media plan:

When we really define influence, we say, if you were to post something or put something online or engage online, who's listening to you, and what action are they taking? And that's what makes you an influencer. -@ChannelSmart
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Your number of connections is something that makes you feel good. What really matters is that you have trusted people that know you and they're going to bring you in the conversation. - @ChannelSmart
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In the new world, marketing is much more important than sales. Marketing is the tip of the spear. It's no longer arts and crafts. It's the science and the data of how your company succeeds.-@ChannelSmart
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Building a successful SaaS channel can mean the difference between success or failure of your company. A great example of finding channel success out of multiple mergers and acquisitions is Recovery as a Service company, Axcient. 

In this episode, Angus Robertson, Axcient’s Chief Revenue Officer and Vice-Chair of the CompTIA Business Applications Advisory Council, shares how they consolidated multiple strategies into a winning strategy of going 100% through MSPs.  Angus tells how Axcient redeveloped and executed their SaaS channel strategy to create a friction-less experience for partners and customers. And he shares the key performance indicators he uses to measure their SaaS channel success. 

Four Key Performance Indicators (KPIs) of a successful SaaS channel strategy are the LTV to CAC ratio, demand waterfall, sales velocity, and net promoter score.

LTV to CAC compares the Lifetime Value of your customers to your Customer Acquisition Cost. Investors look at this ratio to see if you have product market fit and how smart you are with your marketing spend. 

The Demand Waterfall is your sales funnel that traces a buyer from inquiry to close. It looks at both the quantity of leads that you can bring in and the quality of those leads.

Sales velocity looks at how quickly leads are moving through your pipeline and how much value new customers are providing.  It’s a key sales measurement as it tells you how quickly you are making money.

NPS, or Net Promoter Score is used to measure customer satisfaction and loyalty. It also measures your ability to create advocates or champions in your customer base or in your channel.

The key measure at the end of the day is our ability to provide that experience and that satisfaction that creates customer and partner advocates.
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If you're measuring churn, it's important, but it's really looking in the rear-view mirror. What you ought to be looking at are forward indicators of churn like your NPS.
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