Nearbound Podcast

Summary

 In this podcast episode, Jared and Nate discuss the impact of AI on business and the opportunities it presents. They explore the role of AI tools and automation in streamlining processes and improving efficiency. 

Takeaways

• The market is shifting towards a post-SaaS era, where integrations and customization are becoming more important.
• Integrations are becoming a commodity, but there is still a need for thought leadership and ecosystem support.
• Partner professionals need to have a technical understanding to effectively manage integrations and partnerships.
• Partnerships should be strategic and focused on driving value and innovation.
• The market is experiencing a cycle of consolidation and unbundling, creating opportunities for new solutions and partnerships. AI has a significant impact on business and presents numerous opportunities for innovation and growth.
• AI tools and automation can streamline processes and improve efficiency.
• Data and analytics are essential for leveraging AI effectively.
• AI can enhance customer experience and provide personalized interactions.
• Innovators should embrace AI and explore the potential for creating new products and features.

Chapters

00:00 Introduction and Setting the Stage

02:05 The Post-SaaS Era

07:56 The Current State of the Market

10:34 Understanding iPaaS and Integrations

13:25 The Nuances of Integrations

15:46 Managing the Conversation with Engineering

17:51 Defining the Checklist for Integration Strategy

22:26 The Power of Integration and Innovation

26:06 The Evolving Role of Partner Professionals

29:47 The Bundling and Unbundling Cycle

38:16 Consolidation and Unbundling in the Market

02:30 The Impact of AI on Business

10:15 AI Tools and Automation

20:45 Data and Analytics

30:10 AI in Customer Experience

41:58 Unbundling and Innovation Opportunities

42:33 Conclusion and Call to Action

Summary

In this episode, Jared and Isaac are joined by Pete, the CMO of AllBound, to discuss the changing landscape of partner relationship management (PRM). They explore the history of PRM and how it is evolving to become more equitable and collaborative. The conversation highlights the importance of building relationships with partners and customers, and how this can lead to mutual value and revenue generation. They also discuss the challenges of translating trust and relationships into revenue and the need for a mindset shift in sales and marketing teams. The conversation explores the difference between building relationships and being strategic in business. It emphasizes the importance of investing in relationships that have mutual value and can drive significant results. The hosts discuss the need for explicit goals and effective execution to achieve desired outcomes. They also highlight the power of creating advocacy between partners to foster long-term collaboration and success.

Takeaways

• PRM is evolving to become more equitable and collaborative, moving away from the traditional hub and spoke model of partnerships.
• Building relationships with partners and customers is crucial for creating mutual value and revenue generation.
• The changing role of partners and the diversification of partner types require a recalibration of the way businesses approach partnerships.
• Trust and relationships are key in the success of partnerships, and organizations should focus on long-term games with long-term people.
• The changing dynamics between direct and partner sales require a shift in mindset and a focus on relationship-first approaches.
• Translating trust and relationships into revenue requires a mutual commercial benefit and a focus on creating value for both parties. Building relationships is valuable, but being strategic in choosing which relationships to invest in can lead to greater benefits for both individuals and companies.
• Setting explicit goals and effectively executing tasks is crucial for achieving desired outcomes in business relationships.
• Creating advocacy between partners by aligning with their needs and interests can result in long-term collaboration and success.
• Investing in relationships that have mutual value and can drive significant results is key to strategic business growth.

Chapters

00:00Introduction and Football Banter
03:00The Changing Landscape of PRM
12:23The Changing Role of Partners
20:36The Importance of Relationships
29:19Changing Partner Types and Activities
36:35The Role of Trust and Relationships in Revenue Generation
42:13Building Relationships vs. Being Strategic
43:22Setting Explicit Goals and Making Them Happen
44:22Creating Advocacy Between Partners

Elliot Smith discusses the challenges faced by partner teams in being fully appreciated for their efforts. He emphasizes the importance of having a clear vision and strategy for the partner program, as well as aligning with sales and marketing teams.

Elliot also highlights the need for strong technology and operations support for partner teams. In addition, Jared Fuller mentions the importance of campaign-centric approaches and the upcoming episode on partner enablement with Pete Caputo.

Key Takeaways:

• Partner teams often face challenges in being fully appreciated for their efforts.
• A clear vision and strategy for the partner program is crucial for success.
• Partner teams should strive to be seen as an extension of the sales team and focus on driving sales impact.
• Attribution can be a challenge, but the focus should be on pipeline influence, pipeline sourcing, and customer satisfaction.
• Technology and operations support for partner teams is often lacking and needs to be improved.
• Campaign-centric approaches and partner enablement are important for long-term impact.

Quotes:

• "Partner programs must be seen as an extension of the sales team and driving sales impact." - Elliot Smith
• "The best partner people are comfortable in the role of providing the assist and not necessarily getting the full limelight and glory." - Elliot Smith

Chapters:

00:00 Introduction and Welcome
00:40 Guest Introduction: Elliot Smith
01:44 Discussing Challenges Faced by Partner Teams
04:00 The Role of Partner Teams in Sales
05:11 The Importance of Sales Attribution
15:52 The Impact of Partner Programs on Product Development
18:05 The Role of Technology in Partner Programs
22:00 The Future of Partner Programs
25:21 Programmatic Approach to Partnerships
25:58 Understanding Co-Sell Motion
26:11 The Hustle Game and Prioritization
27:15 Challenges in Co-Sell Motion
27:47 The Importance of Pre-Call Preparation
28:35 Aligning with Bigger Codes
31:46 The Ideal Profile for a Partner Team
39:45 Hiring for Partner Teams
43:05 Challenges in Partner Programs
43:41 The Role of Marketing in Partner Programs
47:59 Conclusion: The Future of Partner Programs

TK Kader shares his insights on the power of strategic partnerships in driving business growth. He discusses his experience with partnerships and acquisitions at ToutApp and Marketo, highlighting the importance of understanding the market, building strong integrations, and prioritizing key partners.

Cotter offers invaluable advice on data analytics, co-marketing, integration strategy, addressing unique customer needs, revenue share, and prioritizing partners on both sides of M&A deals.

TK also emphasizes the value of data-driven decision-making and effective co-marketing strategies in successful partnerships.

Key Takeaways:

• Building strong integrations with key partners is crucial for driving business growth.
• Prioritize partnerships with platforms that serve your target market and have a large customer base.
• Data is essential for understanding the impact of partnerships and making informed decisions.
• Co-marketing can be a powerful tool for generating pipeline and increasing deal sizes.

Chapters:

00:00 Introduction and Welcome
00:39 Guest Introduction and Sponsor Mention
01:07 Discussion on Partnerships and M&A
01:56 Deep Dive into ToutApp's Journey
03:21 The Role of Partnerships in ToutApp's Success
13:35 Transition from ToutApp to Marketo
17:45 Strategic Alliances and M&A at Marketo
22:51 Aligning with Service Partners and Implementing Revenue Share
23:29 The Evolution of a Platform and Monetization Strategy
24:57 The Role of Strategic Partnerships in Business Growth
25:41 Building a Successful SaaS Business: Market, Product, and Go-to-Market Strategy
26:54 The Acquisition Journey: From Marketo to Adobe
30:52 The Transition to Adobe and the Importance of Data in Partnerships
36:45 Tips for Building Successful Partnerships and the Role of Co-Marketing

Norma Watenpaugh joins the podcast to discuss the importance of customer experience in ecosystem economics. She highlights the role of partners in shaping the customer experience and explains how understanding partner revenue streams is crucial for understanding the overall economics of an ecosystem. 

Norma discusses the significance of building intellectual property with partners and the challenges of measuring partnership influence. She points out that the expectation for time to value has significantly changed in the software-as-a-service (SaaS) model, with customers now expecting immediate value. 

Norma also touches on the lagging adoption of new trends by partners and the need for a more agile approach in the channel. 

**Key Takeaways:**

- Partners play a crucial role in shaping the customer experience and are essential for driving business outcomes.
- Understanding partner revenue streams is crucial for understanding the overall economics of an ecosystem.
- Building intellectual property with partners creates stickiness and drives long-term value for customers.
- Measuring influence in partnerships can be challenging, but it is important to track the impact of partners on revenue and customer outcomes.
- The expectation for time to value has significantly changed in the SaaS model, with customers now expecting immediate value.
- Partners often lag behind in adopting new trends, and an agile approach is needed to keep up with market demands.
- Integration partners are important for retaining customers and delivering ongoing value.

**Chapters:**

00:00 Introduction
00:39 The Role of Partners in Sales
01:31 Guest Introduction: Norma Wattenpah
02:27 Understanding Ecosystem Economics
03:01 The Importance of Customer Experience in Ecosystem Economics
03:18 The Role of Partners in Customer Experience
04:04 Understanding Partner Revenue Streams
08:05 Building Intellectual Property with Partners
25:09 The Challenge of Measuring Influence in Partnerships
31:20 The Importance of Customer Value in Software Services
32:10 The Role of Partners in Software Implementation
32:41 Incorporating Partners into Business Growth Plans
33:20 The Shift Towards Post-Sale Consulting
34:19 Understanding the Economic Model of Software Services
34:53 The Impact of Partners on Business Growth
35:57 The Role of Partners in Customer Success
37:47 The Evolution of Business Development and Partnerships
38:36 Understanding the Different Types of Partnerships
40:58 The Importance of Time to Value in SaaS
41:48 The Role of Partners in Customer Retention and Growth
42:07 The Future of Partnerships in Business Development

• Building channel partnerships requires trust, training, and communication.
• Repeatable models and packaged solutions are essential for partner success.
• Sharing the wealth and making partners famous are key to building strong partner relationships.
• The quality of leads from partners is often higher and leads to faster close rates.
• Channel programs are relevant for both enterprise and SMB/mid-market software companies.

• "Everything in this industry is about trust." - Bobby Napiltonia

Asher Mathew, founder of Partnership Leaders, joins Isaac Morehouse and Will Taylor to discuss the emergence of the Chief Partner Officer (CPO) role in companies. 

He explains that as partnerships become more important for businesses, there is a need for a leader who can focus on optimizing relationships and driving value from partnerships. 

The CPO role is responsible for managing partnerships, enabling partner success, and aligning partner strategies with overall business goals. 

The role is becoming more prevalent in enterprise-level companies, but there is still a lack of understanding and readiness for the role in mid-market and SMB companies. Mathew believes that more partnership leaders need to develop their business acumen and gain experience in order to be ready for CPO roles.

**Key Takeaways:**

- The CPO role is emerging as partnerships become more important for businesses.
- The CPO is responsible for managing partnerships, enabling partner success, and aligning partner strategies with overall business goals.
- Currently, only a small percentage of partnership leaders are ready for CPO roles, especially in mid-market and SMB companies.
- Partnership leaders need to develop their business acumen and gain experience to be ready for CPO roles.

**Quotes:**

- "The CPO role is responsible for optimizing relationships and setting up partnerships for success."
- "Partnerships can be a strategic advantage for businesses, and the CPO role is crucial in driving value from partnerships."
- "More partnership leaders need to think about their company's interests rather than just their partner's interests."

**Chapters:**

00:00 Introduction
01:00 Discussing the CPO Report and Role
02:23 Exploring the Genesis of the CPO Role
02:36 Understanding the Growth and Impact of Partnership Leaders
03:12 The Emergence of Chief Partner Officers
06:01 The Role and Importance of a CPO
07:34 The Evolution of C-Suite Roles
14:31 The Future of CPO and Its Impact on Business Strategy
24:29 Understanding the Role of Rev Ops Teams
24:57 The Role of a CRO in Revenue Routing
26:36 The Impact of Demand Generation on Marketing and Sales
27:34 The Shift in Seed Level Roles
28:17 Layoffs by Role in 2023: A Data Analysis
29:11 The Importance of Partner Relationships in Business
30:15 The Role of Engineering Resources in Business
31:44 The Future of CPO Roles
45:55 Closing Remarks and Future Predictions

Isaac Morehouse and Will Taylor reflect on the year 2023 and the impact of partnerships in the world of nearbound marketing. 

Will highlights the importance of partnerships in the buyer's journey and introduces the concept of the bow tie model, which maps out the stages of the buyer's journey and identifies the best types of partners for each stage. 

Isaac and Will emphasize the need for partner people to take the lead in implementing nearbound plays and driving the success of partnerships within their organizations. 

They also discuss the importance of data and tactical execution in moving the needle and the value of social networking platforms like LinkedIn in B2B marketing.

Looking ahead to 2024, they discuss their plans for the Nearbound podcast, the release of the Nearbound book, and the evolution of [nearbound.com](http://nearbound.com/).

**Key Takeaways:**

- Nearbound marketing is highly valued by companies looking for efficient growth.
- Partner people play a crucial role in driving nearbound plays and need to take the lead in implementing them within their organizations.
- Companies are still investing in partnerships despite economic challenges.
- Ops data and tactical execution are key to proving the value of partnerships and securing resources.
- Social networking platforms like LinkedIn are undervalued in B2B marketing and offer opportunities for demand creation and trust-building.

**Quotes:**

- "Nearbound marketing works, whether it's for pipeline generation or brand recognition." - Will Taylor
- "Running nearbound plays has to be driven by partner people." - Isaac Morehouse
- "Just because your company is not investing in you doesn't mean they don't want to or won't invest in nearbound." - Isaac Morehouse
- "Companies are still investing in partnerships because they see the efficiency and value it brings." - Will Taylor
- "Ops data and tactical execution are what's moving the needle in partnerships." - Will Taylor
- "LinkedIn is still undervalued in B2B marketing and offers opportunities for demand creation and trust-building." - Isaac Morehouse

**Chapters:**

00:00 Introduction and Year-end Reflection
02:17 Takeaway 1: Nearbound Marketing Works
08:11 Takeaway 2: Nearbound Plays Driven by Partner People
22:38 Takeaway 3: Companies Still Investing in Partnerships
36:46 Takeaway 4: Ops Data and Tactical Execution
41:44 Takeaway 5: Value of Social Networking, Specifically LinkedIn
46:02 Building Trust and Connection through Nearbound Marketing
47:20 Key Takeaways from 2023
48:32 Looking Ahead to 2024
49:55 Exciting Plans for 2024
51:06 Phase Two: Proving and Validating Nearbound
52:36 Getting Rubber on the Road in 2024
52:44 Fun Teasers for 2024
53:12 Closing Remarks and Call to Action

Rohan Batra, Global Head of Partnerships at Pigment, joins Isaac Morehouse and Ella Richmond to discuss the importance of building a strong partner program. 

Rohan shares his career journey from Accenture to Pigment and explains how his experience in professional services has shaped his perspective on partnerships. 

He emphasizes the need for a clear strategy and goals when building a partner program and highlights the importance of collaboration and transparency with other departments. 

Rohan also discusses the challenges of working with different departments, such as sales and services, and shares his insights on hiring for a successful partner program.

📧 Get daily partnership updates, subscribe to the Nearbound Daily email: https://nearbound.com/

**Key Takeaways:**

- Building a partner program requires a clear strategy and goals that align with the company's overall objectives.
- Collaboration and transparency are essential when working with different departments, such as sales and services.
- Hiring for a successful partner program requires individuals who are collaborative, self-motivated, and constantly learning.
- A healthy partner program is one that allocates resources to partners who drive the most revenue and impact.
- The success of a partner program can be measured by the speed and size of deals, as well as the win rate.

**Quotes:**

- "I think being purposeful in how we go about things has been a real focus in building a healthy partner program." - Rohan Batra
- "A healthy program is foundationed on transparency in the partnership." - Rohan Batra
- "Lead with empathy. Put yourself in the shoes of the partner and understand their business and strategy." - Rohan Batra
- "A healthy program is one that is focused on driving revenue and impact for the company." - Rohan Batra

******************Chapters:******************

00:29 Intro
01:28 Introducing Guest Rohan Batra
02:15 Rohan's Career Journey: From Accenture to Pigment
06:12 The Shift from 'Ecosystem' to 'Universe'
07:50 The Transition from Professional Services to Partnerships
10:08 The Role of Partnerships in Business Growth
14:57 The Impact of Company Size on Decision-Making
18:04 The Appeal of Tech Partnerships
20:14 Constructing a Point of View with Leadership
22:58 Understanding Incentive Structures in Partnerships
23:32 Defining Goals for Different Types of Partnerships
24:27 Balancing Multiple Objectives in Tech Partnerships
25:02 The Importance of Focus in Partner Relationships
26:44 Working with Different Departments: Marketing
31:04 The Challenge of Transitioning to Objective Partner Selection
31:48 Working with Different Departments: Sales
35:31 Working with Different Departments: Services and CSS
37:43 Hiring for a Successful Partner Program
38:13 Defining a Healthy Partner Program
40:19 Final Thoughts and Future Goals

If you want to succeed in partnerships, you need a Nearbound mindset. Jared talks about the importance of the Nearbound Mindset and its impact on the future of partnerships at Catalyst 2023.

He emphasizes the need for leaders to have a customer-centric mindset and unite their teams around a common mission. 

Jared shares stories of successful entrepreneurs who took risks and had the courage to challenge the status quo. He also highlights the power of language and the role it plays in creating a unified vision. 

📧 Get daily partnership updates, subscribe to the Nearbound Daily email: https://nearbound.com/

**Key Takeaways:**

- The Nearbound Mindset is about uniting marketing, sales, and success teams around the customer.
- Language is a network effect and can be a powerful tool for rallying people around a common mission.
- Successful entrepreneurs take risks and have the courage to challenge the status quo.
- Partnership leaders need to have conviction and be willing to take personal risks to drive change.
- Uniting teams around a customer-centric approach is essential for success in the modern business landscape.

**Quotes:**

- "Partnerships is not a department. It has to be a strategy for every department. This isn't a channel world." - Jared Fuller
- "The moment, right now for Nearbound, is the opportunity during these hard times for B2B, to unite the company around a singular mission, which is the only thing that matters is the customer and the people that they work with." - Jared Fuller

**Chapters**

02:02 Reflecting on the Past Year and the Birth of Nearbound
08:59 The Nearbound Mindset and the Future of Partnerships
19:29 The Power of Curiosity and Taking Risks
20:10 The Story of Pete: From Account Executive to CEO
22:41 The Impact of Courage and Conviction in Business
23:40 The Role of Partnerships in Business Success
24:04 The Importance of Conviction in Leadership
25:03 The Nearbound Mindset: Unifying People and Driving Results
31:39 The Importance of Customer-Centric Approach in Business