More Industry Numbers; An Industry CTA
Just to add a part two to this post….
I shared numbers with other vendors and they shared back some of their stats. Interesting to note we’re starting to see some consistency across the Tech Partner industry such as:
- 50% conversion, early stage to close/won: A consistent benefit of working with tech partners is better conversion rates from top-of-funnel to close. Multiple vendors are reporting similar benefits from their tech partner ecosystems
- Deal size: There’s a lot of potential to see tech partners drive bigger deals. Some vendors report that deals are up to 4x larger when a tech partner is involved
- +60% less likely to churn: Some other vendors report that tech partnerships greatly reduce churn. A customer that deploys multiple integrations in really benefiting from the innovation and efficiencies that come with out-of-the-box integrations. Also, it is harder to churn a vendor that is deeply integrated into the tech stack and business process.
Join the conversation! We’re trying to collect data across the industry to understand the impact and benefit of building out a tech partner ecosystem. Please let us know for those deals tagged with a tech partners vs those not tagged with a tech partner:
- Was originated/teamed revenue higher with tech partner tagged deals? If so, how much higher (as a percentage)?
- Was deal conversion higher from early stage to close/won with tech partner tagged deals? If so, how much higher (as a percentage)?
- Did deals close faster from early stage to close/won with tech partner tagged deals? If so, how much faster (as a percentage)?
- Was there less churn amongst customers if tech partners were involved with the initial deal? If so, how less (as a percentage?)
- Were deal sizes larger with tech partner tagged deals? If so, how much larger (as a percentage)
I’m open for further discussion. If you’d like to talk through your results or learn more about the stats we’re collecting, email me at ronpiovesan@gmail.com or find me on the Partnership Leader Slack. The individual results will be completely confidential and we’ll only share out the aggregated numbers.
Here’s the survey. Join the conversation. Be a part of building out industry benchmarks across the Tech Partner industry.
