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Frequently asked questions
How do you approach professional development?
While it isn’t always discussed, we believe leadership is a journey. One that demands introspection, self-awareness and a commitment to continuous learning. Too often, the expectation is that we can parachute a person into a role and expect them to perform on day one. There is no such thing as an instant offense. Leaders need to understand their emotions and those of their peers and teams. They need to develop effective communication techniques in a world where the language and frequency of communication are constantly evolving. Many people in business are reluctant to admit that empathy and compassion are a necessary part of team dynamics. They prefer to focus on performance and metrics. We believe that people committed to continuous learning, curious and committed to these principles are not only more likely to be high achievers, they will live happier and more enriched lives. Ongoing personal development cultivates knowledge and self-awareness, which are essential to guiding teams with clarity, compassion and purpose.
How do you explain Go-to-Market Strategy?
A “Go to Market” strategy refers to the process and plan a company implements to introduce and sell its products or services to the target market effectively. It encompasses the various activities and channels used to reach and engage customers, generate awareness, and drive sales.
The strategy usually includes market analysis, identifying the target audience, defining value propositions, and determining the optimal marketing and sales channels. It involves understanding customer needs, competitive positioning, pricing, and distribution. The Go to Market strategy aims to create a roadmap for the company to bring its offerings to market in a way that maximizes customer acquisition and revenue.
Key components of a Go to Market strategy include product positioning, marketing messaging, pricing strategy, sales enablement, and distribution channels. It may involve multiple marketing and sales approaches, such as direct sales, e-commerce, partnerships, resellers, or digital marketing campaigns.
The strategy also considers ongoing customer support and post-sales services to ensure customer satisfaction and facilitate repeat business. It evolves over time based on market feedback, competitive dynamics, technological advancements, and changes in customer preferences.
An effective Go to Market strategy aligns the company’s goals with customer expectations, enhances market penetration, and helps create a competitive edge in the marketplace.
What is “dead reckoning” and how does it apply to business?
In business terms, “dead reckoning” refers to a method used to estimate or predict future outcomes based on past performance or available information. The term originated from navigation, where dead reckoning is the process of determining a ship’s position by projecting its direction and speed from a known starting point, without using external references like landmarks or GPS.
Applied to business, dead reckoning involves making projections or forecasts using internal data, historical trends, market analysis, and other available information. It assumes that past performance or existing conditions will continue without significant changes. It is a useful technique when there is a lack of real-time data or when making quick decisions based on limited information.
However, dead reckoning also has limitations. It may not account for unexpected events, shifts in the market, or external factors that can impact the accuracy of the predictions. Thus, it is important to regularly reassess and validate assumptions, update inputs, and incorporate new information for a more accurate understanding of the current business landscape.
Dead reckoning can be a valuable tool for short-term planning, budgeting, and decision-making. However, it is essential to supplement it with other forecasting techniques and remain agile in response to changes in the business environment.
How would you define talent development?
Talent development refers to the process of nurturing and enhancing the skills and abilities of individuals within an organization.
How does EDGE GTM define Community Stewardship?
We are dedicated to actively contributing to the well-being and growth of the communities we serve. Through our actions and initiatives, we aim to make a positive impact, support local causes, and promote sustainable development for the betterment of society.
When evaluating Partner Relationship Management (PRM) systems, what should you consider?
Every ecosystem is different. First consider the types of partners you have or want to have. Who are you partnering with? Application providers, agencies, consultancies, GSIs MSPs? What are your partner motions? Resell, co-sell, referral, integration, marketplace, all of the above?
If you are looking to invest in PRM, make sure you have people on the project who know the partner business model and how you engage with partners. Build personas for the groups of people within each partner category and prioritize them from high to low. Hire an agency or consultancy that understands Human Centered Design and make sure your requirements are well documented.
Select a PRM partner that is most likely to deliver on your requirements. Create a small user group of partners willing to participate in a soft launch. Then track and measure both analytics for onsite visitor behavior and survey users to understand what is working and what needs attention.
It’s not the only way to build trust. It’s not even the first way, However, if you build a system that works like the partner works, and provides them value when and how they need it, then you have a 24×7 resource that makes your partner’s business better.
What is a regional System Integrator (sometimes referred to as a boutique System Integrator) and how are they different from a Global System Integrator partner
A regional system integrator partner is a company that specializes in integrating various technology systems and components to create cohesive solutions for clients in a specific geographic region. These partners possess expertise in designing, deploying, and managing complex IT infrastructure projects, including hardware, software, and networking elements. They work closely with clients to understand their unique requirements and provide customized solutions that address their specific needs. Regional system integrator partners ensure seamless integration of different technologies and help clients optimize their IT infrastructure to improve efficiency, scalability, and overall business performance.
Customer expectations have significantly increased. They no longer seek individual solutions but desire fully integrated, customized experiences that align with their specific needs. Meeting these expectations involves understanding customers’ evolving environment, business objectives, and challenges. Regional System Integrators excel in building deep customer relationships and possess the expertise to address these demands. Consequently, their importance has grown as customers demand more comprehensive and personalized service and solutions.
Team is concerned the ratio of costs for partner services over the cost of our software. It can be 200-300% + in some cases to our ARR. Are there any ratios of software to services cost that are good benchmarks?
If a GSI can walk Unit21 into Toyota, Nike, or American Express, why would the amount of services they are billing matter (rhetorical question)? I suspect your team is looking at budgets based on specific projects. Considering the GSI/SI or advisor is often the trusted advisor for many client projects, including but not limited to the one you are collaborating on,
much of the benefit of these partnerships is the explicit and implicit endorsement they give your company. So if the GSI is billing 10x Services to software (in enterprise), it shouldn’t matter if you sell at an appropriate contract value with acceptable margins.
To answer more specifically, it depends. But I would encourage you to think about ways to promote where an SI can generate 2, 3, or 5x services over the lifespan of a customer. That will get their attention.
When you are walking the SI in, I can see the resistance but you have to do that to create a measure of goodwill. One way to insulate those types of engagements is to have a mutual success plan (see attached example) that looks beyond one deal or even a few deals and makes more of a unilateral commitment for both companies. There will still be winners and losers on a deal-by-deal basis, but you are playing the long game.
Be confident that you are on the right side of history. This isn’t a fad. Its the direction the industry has been moving in for many years.
Do you have experience presenting partnership updates at a Company All Hands? If so, what do you include?
What KPIs for other departments are partnerships impacting. Helps reinforce how other teams can visual how partnerships is helping them.
You already kinda called this out, but make it about the people. Highlight a cross department star of the month for helping partnerships with a key initiative. Helps reinforce how other staff around the company understand how they can intersect with partnerships.
Careful on highlighting new partners too often because you may not get return from those new partners and it just creates confusion about “why did so and so partner ever go”
Yes on new integrations, include a gif of how it works. Make it visually exciting to bring this to life. What is the customer impact. Have a customer quote about their excitement for this integration.
There is a tendency to show the NASCAR slide with all the partner logos. You can close with that slide but I would submit that new logo wins and customer success stories will land with everyone in the company regardless of the familiarity with partners. In doing so, I would also highlight the collaboration with the Sales AE, even if it wasn’t optimal. This has the benefit of showing impact in terms everyone can understand and clearly sends the message to salespeople that if you work with partners, you win.
I second Chris’s point on new partner additions. It is ok to mention but what is most compelling is the business impact new partners contribute in terms of new integrations, new logos, competitive advantage etc..