Develop a digital platform for a partner connection that drives change and results
In part I of this series, we discussed examining how partner business planning is handled in your organization today – and then to consider tossing it all out. That’s right, just chuck it! Think about the ecosystem and what partners are going through. What’s the approach that will drive their growth in the future? You will find it’s more about daily execution with a relentless focus on business transformation and changing customer needs. Start there and create something new.
New Mindset, New Results
So, what does “new” mean? Today it seems as if everything is slowing down. Everything is more complicated. Vendors are struggling to change to multi-partner class ecosystems while partners face changes in customer delivery and key transformative initiatives in a COVID-19 world. If you sense things slowing down, you’re observant. Don’t fall into the trap yourself.
NOW is the time to effect change and transformation. Right now. As in today. Partner business planning between partners and vendors is entering the high season. The planning process’s transformation is crucial to move quickly and impact performance and growth. First, let’s consider why, and then go deeper into the impact of partner planning and execution.
Why speed in a slow world?
Driving performance and sales growth require fundamentally different ways of working and outstanding execution. Advances in digital partner planning and execution platforms can create this reality. By moving with speed, customers, partners, and the vendor are impacted. Consider these two important recent articles from McKinsey & Company:
- Boosting your sales ROI: How digital and analytics can drive new performance and growth
- The Domino effect: How sales leaders are reinventing go-to-market in the next normal
“Top sales innovators are embedding data and technology throughout their organizations to reimagine sales”, because “sales growth today requires fundamentally different ways of working as well as outstanding execution across large, decentralized sales teams and channel partners“.
The impact can be up to 10 points in revenue growth with the same or even stronger margins. Powerful to any sales leader or business owner. Further evidence to go digital, go dynamic, and go value.
At Siemens Digital Industries Software, we recently implemented a digital platform called Partner Planning & Execution, a unique extension of our PRM system, that facilitates a connection between the vendor and partners around the globe. The purpose is to move from static plans to digital dynamic plans that are agile with a strong focus on joint execution. The goal is to enhance value across customers, partners, and vendors.
Speed to impact
Let’s unpack the value-driven from a digital platform and the impact points. As a reminder, the digital platform facilitates all key planning discussions between vendor and partner, jointly, including revenue planning, enablement/personnel and marketing, but with accurate and timely information for a more profound business conversation about goals, objectives and tasks. The difference is that it’s live and moves from planning meetings (e.g., annual and QBRs) to a daily execution focus. Both vendor and partner remain connected, daily, as new objectives emerge, as goals transform, and as tasks are completed, changed or added.
Let’s consider the impact in this way: Go Digital, Go Dynamic, Go Value. Beginning at a higher level, the focus of this new approach to business planning is to:
- Drive intuitive and faster interaction through more productive business conversations
- Develop stronger processes with clear accountability and fewer inefficiencies
- Drive data-driven decisions and actions, daily
- Facilitate partner business transformation based on information, objectives, goals and tasks
- Develop sales analytics, marketing execution analytics, and goal progression dialogue, fast
- Align resources for execution across the plan
- Enable effective, more informed business discussions based on real choices in the present
- Drive a closer connection between partner and vendor
- Ensure a digital presence, online with immediately accessible key live performance data
- Install business intelligence and data-driven decision-making
- Drive agility and innovation to get ahead of market trends or build new parts of the business
- Respond faster with resources, marketing support, enablement and training, and more
- Develop joint plans vs. vendor to-do list and see you next quarter
- Orchestrate efficiency and productivity gains daily, weekly, monthly
- Build mutual expectations from the plan. Execute and drive joint accountability in real-time
- Enable success through the information necessary for completion
- Flex to adjust to market conditions, partner goals, even faster integration of new products and acquisitions
- Anticipate and respond to swings in market dynamics
- Drive data-based business discussions that show an understanding of customers and the partner
- Leverage analytics for business insights, alignment of resources and execution
- Decide on actions based on information from accurate reports of the current business situation
- Ensure agility to changing business circumstance
The call to action is this: Now is the right time to effect significant change and move toward a digital and dynamic solution for partner planning and execution across the ecosystem. The world is slow; you are not. The ultimate results can affect revenue and margin points – as in growth – in your organization. Maintain a focus on the partner and their customer which leads to the right platform customization. There will be a flurry of requirements from multiple constituencies. That’s okay. That’s good. Work the prioritization, pick a platform, work the priorities to customize the solution. New mindset. New results.
At Siemens Digital Industries Software, we work with our partner management team on key business drivers and hone skills, competencies and processes based on contemporary partner, customer and market demands. Working with our professionals and partners led us to embrace and invest in this new business planning approach.
Jason Watkins, Vice President of Global Solution Partner Enablement and Productivity, has over 20 years of experience in sales management and consulting. At Siemens Digital Industries Software, his primary focus is on multi-channel profitable revenue growth and the professional development and advancement of the global Solution Partner ecosystem. Special thanks to Charlie Jonesrebandt, Toni Reszka, Paul Core, Bradley Stern, and Starr Hill-Bennett for their contributions to this initiative and blog post.