Mariam Shodeinde’s Post

Having worked with Partners for most of my career - I know how important data can be to establish a partner program that is successful and aligns with everyone. Check out Thindo Labs and reach out to Mariam Shodeinde to learn how more how to build the right ecosystem to drive success !

A common challenge in partnerships is prioritization and deciding where to spend limited time and money. Data that reveals what is closing deals and what is driving upsells, cross-sells, and retention helps to optimise that prioritisation. For example, if integration installs with a particular vendor drives significantly more retention than average, then it makes sense to invest in that relationship with more Customer success resource for example. But all Partner types and impact are NOT equal nor do they impact the same areas in the customer journey. Companies need to go deeper in connecting objectives with data to spot the meaningful partner impact, and thats the job of Partner Ops. According to the survey, organisations with more mature partner ops teams drive more revenue from partnerships and that is partly because it enables leaders to focus their team’s efforts on the highest impact motions. Here we share some worrying stats about Partnerships and  insights to reversing them. #Channelpartners #partneroperations #partnerledgrowth Reference: The State of Partner Ops and Programs (Hubspot)

Drawing from my experience I’ve seen firsthand how crucial it is to track the right metrics for success of a partnerships channel, especially in a challenging economic climate. Key metrics to consider include: 1️⃣ Partner-generated revenue 2️⃣ Contribution to total revenue 3️⃣ Onboarding and activation rates 4️⃣ Partner satisfaction 5️⃣ Retention rates These metrics provide invaluable insights into the health of the partner ecosystem, highlighting the strength of relationships and areas for improvement. By focusing on these key metrics, businesses can optimize their partner channel strategies, drive growth, and ensure long-term success, even in difficult economic times. #Partnerships #ChannelSales #BusinessGrowth #MetricsMatter

❌ Your C-Suite doesn’t understand or support what you are doing. ❌ Your CEO doesn’t care about the 100 partners you signed. ❌ Your CFO only views your team as cost. Unless you show how you contribute (with data) to the key metrics they care about 👊. So, VP of Partnerships, do you want to get the support you need? Start making an impact to the metrics that matter. For example, did you know that 40% of companies prioritize customer retention as much as acquisition? Therefore, there's a good chance you should care about metrics such as NRR, retention rate, and churn. It costs 5x more to acquire a new customer than to retain an existing one, and boosting retention by 5% can increase profits by 25% to 95%. Additionally, you have a 60%-70% chance of selling to an existing customer, while only a 5%-20% chance of selling to a new prospect. But how can you help contribute to these metrics, you ask? Working with partners has helped many organizations not only retain customers that were likely to churn, but also, even upsell those accounts in many cases. Therefore, start by partnering with your finance team. Learn what matters, how metrics are measured, request current data and goals, and track your team's performance against those benchmarks. Second, consider how you can answer questions such as: ❓ How is your partnerships team performing against these metrics? ❓ How are you incentivizing partners to help you boost retention and reduce churn? ❓ Is your program only focused on new business, and ignoring retention, churn, or expansion? ❓ Is your Customer Success team collaborating with partners and their CS teams? ❓ Do you know your company's avg. CLTV and Payback Period with and without partner involvement? ❓ How strong are your PX and CX strategies? Third, execute, execute, execute! Bonus: If your team doesn't have the bandwidth to do any of this, hire a #PartnerOps person to help you. 👊 TL;DR 👊 📈 Focus on making an impact to key metrics. 📈 Align strategy, architecture and processes to company goals. 📈 Work with your partners to support what the C-suite values. Need help? Connect with me and let's discuss how PartnerOps can support you. #Partnerships #GTMStrategy #CustomerRetention #ProfitableEfficientGrowth

Leadership support is crucial for a successful partner organization....

The 6 Partnership Metrics You Can't Ignore At the highest level, partnership managers should be closely tracking metrics around partnership value, operational efficiency, and health. 1. Partner Acquisition Cost - How much are you spending to recruit each new partner? ↳Tracking client and revenue gains against this number illuminates ROI. 2. Partner Lifetime Value - The projected revenue an average partnership will generate for your business over its lifetime.  ↳Optimize for higher LTV. 3. Joint Sales Pipeline - The total potential deal value created through co-selling opportunities with partners.  ↳Shared pipeline illuminates partnership impact. 4. Partner Satisfaction Index - How satisfied are partners with your products, programs, and support?  ↳Unhappy partners are a retention risk. 5. Lead Conversion Rate - At what rate are partner-sourced leads converting to closed deals? ↳Optimize for better conversion. 6. Partner Churn Rate - What percentage of partners are leaving annually or failing to regenerate value?  ↳Reduces revenue risk. Consistently measuring these 6 metrics provides a comprehensive view into partnership performance, ROI, and areas for improvement. With the right data at your fingertips, you can double down on what's working and quickly course correct when needed. How do you measure partnership KPIs? #kpi #channelpartner #partnermanagement #prm

Why Partner Programs?   ✨ Efficiency: Partnerships generate 28% more revenue than paid search on average. ✨ Growth Potential: 82% of B2B leaders plan to expand their partner roster. ✨ Speed and Closure: Deals with partners are 53% more likely to close, closing 46% faster. ✨ 94% of tech industry executives see innovation partnerships as essential. #PartnerProgramAI #BusinessGrowth #Partnerships #Innovation #PartnerProgram #Channel #ChannelPartner #ChannelSales #PartnerSales #StrategicPartnerships

Partner Success is the new currency when it comes to driving sustainable and meaningful Channel Partnerships today! 🚀 In a chaotic landscape shaped by rapid technological advancements, channel leaders face a critical choice: adapt or be left behind. Here are three compelling reasons why focusing on partner success is non-negotiable: 1️⃣ Meeting Customer Expectations: With customer expectations soaring, partners must deliver exceptional experiences. By enabling their success, we drive customer satisfaction and loyalty, leading to a minimum 20% increase in repeat business. 2️⃣ Staying Ahead of Competitors: Finding and retaining partners is more competitive than ever- Differentiation is key. Unlocking partner capabilities with innovative tools and strategies for their business can boost their revenue by 60% and position them as industry leaders. 3️⃣ Synergies between Products & Services: It is strategic growth that moves businesses far, and not merely revenue or training. Channel leaders are now working closely with partners to solve customer problems together and form lasting customer relationships. Do you think 'Partner Success' has become more important than 'Partner Management' lately? I'd love to know your thoughts. #channelpartners #customersuccess

Channel Leaders… Planning for growth in the channel often starts with partner segmentation and then alignment of resources to these. Often segmentation and partner tiers starts and stops with the booked revenue associated to those partners - which often means partners that are a good fit and can provide good growth for you are missed. I’m sharing some questions that can be used to get you started on creating your Ideal Partner Profile (IPP): - What characteristics predict success? - What attributes are the best fit with our offerings? - What is the partners growth trajectory and strategic direction? I’ve also shared some more here in a recent blog https://lnkd.in/erg38hXF #channelstrategy #channelgrowth #partneractivation #revenueenablement

Every year, Canalys rolls up feedback from over 20,000 partners around the world on their vendor relationships and ranks the best of the best. This is a very comprehensive analysis: Vendors rated as Champions showed the highest levels of excellence in channel management compared with their industry peers throughout 2023. These thought and innovation leaders in the channel also demonstrated some consistent characteristics, including positive partner sentiment, a commitment to improving ease of doing business, a willingness to boost growth opportunities and increase profitability for partners, and a commitment to growing the share of revenue generated through and with the channel. Elements of the ranking include: 1. Adopting partner-first programs, including account mapping and increasing compensation pay rates for sales representatives that sell through the channel rather than directly. 2. Introducing new competencies and frameworks to prepare partners better to capitalize on growing market trends. 3. Launching multiple route-to-market partner programs to accelerate the expansion of partners’ business models. 4. Encouraging the development of new services capabilities to get partners to provide lifecycle services. 5. Streamlining the process for partners to transact in cloud marketplaces. Investing in developing tools, resources and processes to further drive partner-to-partner collaboration. 6. Consolidating numerous disparate programs under one program framework to improve the ease of doing business for partners. 7. Increasing financial incentives to enhance partner profitability and growth. 8. Automating tedious processes to boost partner competitiveness through agility. 9. Driving strong growth through and with partners, addressing key customer demands for secure, hybrid work environments. More here from Rodney Hur: https://lnkd.in/eKn6pnhd The champions are: