Nearbound News #30
Your Friday dose of Nearbound Tips & Tricks.
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Boost Your Revenue with a Scalable Reseller Program
96% of SaaS companies believe reseller partners can drive growth, but not all programs succeed, according to a recent article by ELG Insider.
The key to success often lies in finding the right partner fit, sharing goals, and creating mutual commitment. When done right, reseller programs can be incredibly rewarding, as shown by tech giants like Microsoft, which earns $32 billion annually from SaaS partnerships. For example, Independent Software Vendors (ISVs) in Microsoft's ecosystem have seen:
50% reduction in procurement effort
$173K saved in proof-of-concept fees
75% reduction in time to onboard new vendors
The article features insights from Juan Jose Castiblanques, CRO of WeTransact and former Microsoft employee, on scaling reseller programs through the Microsoft Cloud Marketplace. And we cannot agree more with his tips, as we’ve practised them ourselves too.
Here’s how Bond Agency helps B2B SaaS to improve their Reselling Programs.
Empower yourself and your resellers through automation. Manual spreadsheets are so outdated! Instead, use platforms like Crossbeam to identify partner opportunities and automate connections.
Focus on bringing in results by identifying high-priority prospects for your resellers. This helps them to focus on leads that have a high probability of closing, and success brings success.
Resellers should feel part of your organisation. Onboard them thoroughly, share resources, and initiate relationships between your sales team and resellers. Don’t be afraid to “share” your resellers, your own sales team will be crucial in successful co-selling.
Don’t stop investing time in your resellers. Conduct regular follow-up meetings after they secure their first deals. Confirm that they are doing well and will foster motivation and independence. Reward them with incentive programs, co-marketing efforts, and streamlined customer success.
"Co-selling with resellers is all about collaboration," says Juan Jose Castiblanques. And this is a continuous process, and if you do this right, it’s well worth the investment.
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The Nearbound Club by Bond Agency is your hub for scaling B2B SaaS through strategic Nearbound partnerships. Since 2020, we've helped top Hospitality and MarTech players build impactful partnerships. Our goal? To provide Tech Founders, Revenue Leaders, and Partnership Pros with valuable resources. Let’s chat!
HAPPY FRIDAY 🌐✨
Some music to ease you into the weekend