Forrester
We are at the forefront of a tremendous shift across the channel; with vendors and partners needing to prepare for a new future.
This is a pivotal time for many leading B2B organizations as we continue to see a rise and expansion of new partner relationships and the formation of both formal and informal partner ecosystems.
Successful partner ecosystems require buyer alignment and internal alignment. Research by Forrester of B2B Channel and Partner Leaders determined that:
49% expect growth in the number of partners; a significantly increase from previous years. This growth is expected across all partner types both transacting and non-transacting (VARS, MSP, distributor, alliance, and referral partners)
56% of respondents forecast that influencer revenue will grow next year
Historically, the channel meant those who transacted however increasingly it is seen that other non-transacting partners are influencing buyers. This is leading to a shift in the channel with the creation of new relationships.
This has been partly due to cloud, AI, and IoT technologies, with billions of physical devices around the world connected, collecting, and sharing data. Plus, the expansion of platforms with new apps and independent hardware and software offerings.
Forrester research indicates that B2B suppliers expect to see an increase in the number of partners, and this spans the entire spectrum of partner types and >67% believe they need to manage the interaction of these different partner types to enable them to work together to meet the needs of the customer.
The new ecosystem strategy starts with the buyer, and it is essential to understand the buyer journey. Who, what, where, and when they want to buy and who they talk to along the way. Buyers may want more than a product, but a solution with other suppliers in the mix.
As a result, buyers are defining the partner ecosystem as they require partners of all shapes and sizes to work together.
This ecosystem approach brings value to the buyer as all partners contribute to awareness, and some sell, some provide services, some manage support, but they all contribute to the needs of the customer.
Buyer alignment requires putting the audience first as B2B buyers are looking for solutions to their business problems which may require multiple solutions.
B2B buyers are increasingly looking for a custom offering that meets their specific needs and that is provided by a competent provider with demonstrable experience (at a good price but that is secondary).
There is an increase in complexity of the B2B buyer as 60% of purchases involve 4 or more buyers, and there is an increase in the number of interactions; up to 27 through the buying cycle.
With 85% of buyers meeting a wider variety of the sellers’ team and the top reason to engage with a supplier is previous experience with that supplier.
Understanding the end-to-end buyers’ journey is imperative and companies should be prepared to seek help and to involve stakeholders from different teams to ensure this is properly identified.
Internal alignment is essential for suppliers to ensure they give the buyer a smooth journey with consistent messaging. Reporting structure is key to alignment with 73% of channel marketing reporting into the CMO or Corporate marketing lead.
However, >66% still report that they do not feel truly aligned and this results in missing goals and targets.
Be assured you are not alone, but alignment begins with developing an understanding of functional responsibility and measures of success, and a leader who looks for opportunities to call-out joint success.