Key Performance Indicators — or KPIs — are a tried and true method of tracking business employed by some of the most successful firms in the software industry. And applying KPIs to your business can be much easier than you might imagine
I recently interviewed the co-founder/CEO of a software company whose headcount scaled from 16 to 140 people, expanded internationally, and reached profitability – all since 2014. He told me much of this success can be attributed to a talk he heard at the Business of Software (BoS) conference. In fact, he called this talk “life changing” for him and his company. That “life changing” speaker will be back at BoS in 2018: Michael “Mikey” Trafton will be presenting, “How to Manage Your Badass Team.” It’s an appropriate follow up to his 2012 talk, “How to Build a World Class Culture in 3 Easy Steps,” and to his 2012 encore, “Recruiting a Bad Ass Team.”
Lina Parness runs the Alliances and Partnerships program for LogiGear and has more than 15 years experience helping companies expand partner programs and business development channels. She took time to speak with Software Business Growth about how she helped build the Partner Program at LogiGear, as well as the unique challenges that come with working with large partners such as Oracle.
One of the worst mistakes a company can make is to believe an external sales team needs no training or close interaction — that you can just sign a reselling agreement and then go back to business as usual while strangers make your offerings fly off the shelves. But trusting an external team like a Value Added Reseller (VAR) with your work is like trusting a babysitter with your children. You can just rush out the door and hope the kids are in one piece when you get home, or you can work with the sitter to develop a plan for the best, safest, most enriching experience. The more involved a software manufacturer is with their VAR team, the better that team understands the value propositions your solutions deliver – and the better equipped they are to make consistent, lucrative sales.
As a channel sales consultant, I sit down with various high-tech companies interested in creating a channel. Many of these businesses are startups or SMBs and their ability to even begin to build a channel can be a challenge. They lack customers, revenue, and/or sufficient resources to build out a proper infrastructure. So, how can they make revenue to support this endeavor, find partners willing to work with them, and provide the leads necessary to get the program off the ground?
Vendors looking to go above and beyond in their business have likely considered building out a channel partner program, and if they haven’t, they should. Channel partners can help vendors access new markets, reach new buyers, extend their pool of resources and rev up revenue — driving growth and bringing in the numbers vendors want. Despite the quantitative benefits and the easy assumption that more is better, when it comes to leveraging the channel optimally, vendors must remember that if quality doesn’t trump quantity, it certainly enables the abundance of positive results.
The definitive outcome in a successful channel partnership is to engage and motivate their reps to push your product above the rest on a continuous basis.
The best, most successful channel partnerships are built on a strong foundation that consist of establishing a business plan, educating, and training on the product or service, and ensuring a clear vision and mutual understanding of goals—from day one.
Everywhere you look, eCommerce is booming—loudly. 64 cents of every dollar spent in retail stores are now influenced by digital interactions. Yet, for all the growth—and all the tools available to retailers and brands for managing the digital shelf—there are precious few ways to generate the strategic insights that drive decisive, successful actions.
During the sales process at Epos Now, we leverage our strong customer support and reviews as a core differentiator and unique selling proposition (USP) to our competitors.
SoftwareBusinessGrowth.com seeks to inform and advise the software community on the best opportunities for business success, where developing killer code simply isn’t enough. At SoftwareBusinessGrowth.com, software companies learn the management, sales, marketing, HR, operations, support, finance, customer success, product, and partner development strategies that will take their solutions out of the testing and into the hands of more users. Through a daily stream of news and exclusive insight served up by winners in the software community, our multimedia newsletter, webinar, event, and site content helps readers build value for their software businesses.