This is a summary of the Nearbound guide and serves as an introduction to your understanding of deploying Nearbound. We recommend downloading the guide in order to fully understand Nearbound and how you can implement it.

 

Product, marketing, sales, success, and partnerships are constantly evolving, and Nearbound sales is the latest revenue-generating approach. This strategy integrates marketing and sales efforts to attract, engage, and convert prospects into customers. By combining sales and marketing efforts through the Nearbound go-to-market (GTM) motion, companies can achieve significant revenue growth by working with partners who already have trust and influence with their target market.

The Ultimate Guide to Driving Revenue with Nearbound Sales is a valuable resource that provides a detailed overview of the Nearbound GTM motion for partnerships teams, partner managers, sales managers, and sales teams, including the five phases of the process and the specific tactics for each persona.

Are you ready to gain insights into the tactical steps that have been battle-tested in the field and sourced from top producers in GTM?

Understanding The Nearbound Era

In the current economic climate, mass layoffs have taken a toll on many companies, causing GTM teams to struggle with declining performance in their outbound and inbound channels and strategies. It’s clear that what worked in the past is no longer effective, and companies need to adopt new approaches to drive revenue. This is where the Nearbound Era comes in.

The Nearbound Era represents a new way of partnering with the market, building on the foundation laid by the Outbound Era and the Inbound Era. While the Outbound Era focused on going after your target market and digitizing sales, and the Inbound Era focused on marketing automation and pulling in your target market, the Nearbound Era is all about partnering with those whom your prospects already trust. This means leveraging the power of technology and data to enhance every step of the buyer journey with information about the nodes of trust each account is connected to.

The winners of this decade are those who are driving revenue together with a Nearbound go-to-market motion. By involving partners and partner data, they are able to enhance win rates by 41% and grow deal size by 43%. This is made possible by the use of account mapping software like Reveal, which creates a new category of data that allows practitioners of outbound and inbound motions to layer Nearbound information on top of their activities. In this blog, we will explore the Nearbound Era in more detail and show how companies can leverage this new approach to drive revenue and succeed in today’s competitive market.

Let’s get down to business.

Chapter 1 – Partnerships Team: Operations

The first phase in Onboarding Partners is about creating a process for defining, identifying, and engaging partners. This process is key to driving revenue with Nearbound sales. Without an organized approach, your partnerships will fall apart before they even get started. One critical element is determining the kind of partnerships that you want to pursue. You need to consider whether you are looking for partners to help you reach new customers or partners that can help you provide additional value to your existing customers.

The second phase of Digging into the Data focuses on identifying key metrics and establishing a baseline to track and measure your partnerships. This is important in order to see the progress and effectiveness of your partnerships and to make any necessary adjustments along the way. You’ll want to track metrics such as revenue generated, leads generated, and customer retention.

The third phase, Share the Insights, is all about communication. It is essential to have an open dialogue with your partners, and this phase will help you establish a framework for that communication. You’ll want to discuss your goals and objectives, share your insights and data, and work together to identify opportunities for improvement. By sharing your insights with your partners, you can work together to optimize your partnership and drive revenue.

Chapter 2 – Partnerships Team: Partner Managers (Individual Contributors)

Once your partnerships have been onboarded, you’ll want to move on to Phase 2: Dig into the Data. This phase is all about measuring the performance of your partnerships, and it requires a deep dive into the data. You’ll want to look at a range of metrics, including revenue generated, leads generated, customer retention, and more. By analyzing this data, you can identify what’s working and what’s not, and make any necessary adjustments to your partnership strategy.

The third phase, Share the Insights, is about communication. You need to establish a regular dialogue with your partners, sharing insights, feedback, and data. This phase is critical to maintaining a strong partnership and ensuring that both sides are working towards a common goal. By sharing insights with your partners, you can work together to optimize your partnership and drive revenue.

Phase 4: Take Action is all about using the insights you’ve gathered to take specific actions to improve your partnerships. This could involve adjusting your strategy, changing your messaging, or focusing on specific products or services. By taking action based on the insights you’ve gathered, you can improve the effectiveness of your partnerships and drive revenue.

Chapter 3 – Partnerships Team: Management (Leadership)

As a manager, it’s your responsibility to oversee the partnerships team and ensure that they are working effectively to drive revenue. Phase 1: Onboard Partners is critical, as it sets the foundation for your partnership strategy. You’ll need to define the kind of partnerships you want to pursue and establish a process for identifying and engaging partners. This phase is all about creating a solid framework that your team can build on.

Phase 2: Dig into the Data is all about measuring the performance of your partnerships. As a manager, you need to have a clear understanding of the metrics that are being tracked and use that data to make informed decisions about your partnership strategy. You’ll want to establish a baseline for each metric and track progress over time. By analyzing this data, you can identify trends and make any necessary adjustments to your partnership strategy.

Phase 3: Share the Insights is all about communication. As a manager, you need to foster an open dialogue with your partners and establish a framework for sharing insights and data. This phase is critical to maintaining a strong partnership and ensuring that both sides are working towards a common goal. By sharing insights with your partners, you can work together to optimize your partnership and drive revenue.

Chapter 4 – Sales Team: Managers (Leadership)

Sales leaders and managers are responsible for the success of their teams. They must ensure that everyone is aligned with the company’s goals and has the necessary resources and support to achieve them. The first two phases of Nearbound sales for managers focus on understanding and developing a deep understanding of the target audience and how the sales team can best serve them. They need to work with their sales teams to create a comprehensive sales strategy that is aligned with the company’s overall goals. This includes creating a sales playbook, defining sales processes, and identifying metrics to measure success.

The third phase is all about sharing insights and feedback with individual contributors. The sales team should be able to provide feedback to their sales managers on what is working and what is not. In turn, managers must provide actionable feedback to their teams and make sure that everyone is on the same page. The fourth phase is to take action based on the insights and feedback received. Sales leaders and managers must ensure that their teams are working effectively and that they have the support they need to be successful.

Finally, in the fifth phase, sales leaders must measure, coach, and iterate. They must track their teams’ progress and adjust the sales strategy as needed to ensure that they meet their targets. Sales managers should coach their individual contributors and help them develop their skills to reach their goals. Iteration is an ongoing process that involves constantly refining the sales strategy to improve outcomes.

Chapter 5 – Sales Team: AEs, AMs, BDRs/SDRs (Individual Contributors)

Individual contributors in sales teams play a crucial role in driving revenue. The third phase of Nearbound sales for AEs, AMs, BDRs/SDRs is all about sharing insights with their managers. This means providing feedback on what is working and what is not in their sales process, identifying roadblocks and pain points, and suggesting ways to improve. They must communicate effectively with their sales managers to ensure that the team is aligned and working together to achieve the company’s goals.

The fourth phase is to take action based on the feedback and insights they have received. Individual contributors must be proactive in identifying areas for improvement and taking steps to implement changes that will improve their sales results. This might include refining their outreach strategies, developing new messaging, or identifying new sources of leads.

The final phase is to measure, coach, and iterate. Individual contributors should track their progress, measure the success of their efforts, and adjust their approach as needed. Sales leaders should coach their individual contributors and provide feedback on how they can improve. Iteration is an ongoing process, and salespeople must constantly refine their approach to achieve better results. By following the Nearbound sales process, individual contributors can improve their performance and contribute to the overall success of the sales team and the company.

Conclusion

Overall, The Ultimate Guide to Driving Revenue with Nearbound Sales is an excellent resource for companies looking to take their revenue growth to the next level. By implementing the Nearbound GTM motion and following the tactical steps outlined in the guide, companies can build strong partnerships, drive revenue growth, and achieve long-term success.

Nearbound sales is a game-changing strategy and a powerful approach to generating revenue. Still, it requires a deep understanding of your target audience, a clear strategy, and a focus on creating value at every stage of the sales process. By following the tips and best practices outlined in this guide, you can create a Nearbound sales strategy that drives revenue and helps your organization achieve its goals.

 

There’s much more information available on how to implement this strategy. We recommend downloading the Nearbound guide, reading it fully, taking notes, and determining your 2-3 actions that you will take to start implementing this. Nearbound is your path to the promised land and out of the economic challenge. Nearbound will help you stop selling on hard mode and market much more efficiently.