For some time, we've heard organizations talking about a change in the channel space. The traditional indirect model is alive and well, but the number of stakeholders involved is rapidly growing and the demands of consumers are changing. We are also seeing an ever-growing consensus that nearbound is the future of GTM.
But how do we make this ecosystem-led future real? Up until this point, the tech needed to support this approach hasn’t really existed. We have legacy tools like PRMs, which were great at addressing traditional channel needs but lack the holistic scope for ecosystem orchestration.
The 360insights team was recently joined by our partners for the launch of the 360insights Ecosystem. This groundbreaking collaboration brings together best-in-class tools, services, and strategies fueling partnership teams, providing the infrastructure to catalyze the hype and potential we’ve all been hearing about.
I highly recommend that you watch our on-demand launch event here, to see exactly how we are executing this together. Hear from our Ecosystem partners including Channel Maven, Nearbound, Digital Bridge Partners, Partnership Leaders, Reveal, Partner Fleet, StructuredWeb, Spaulding Ridge, and Is Inspired. Plus, 360insights CEO Jason Atkins shares a bit about the road to this moment.
But if you only have a few minutes to spare and want some highlights, here are three big takeaways.
Takeaway #1: (Buy-in) Ecosystem orchestration is a response to the consumer's trust-based decision making.
Ecosystem orchestration is a need, not a want, for strong go-to-market functionality.
Our world puts endless information and options at every consumer’s fingertips which makes it necessary for consumers to center their purchase decisions on relationship and trust.
Allan Adler, Managing Partner at Digital Bridge Partners, noted that "80% of all the buyers want to start their purchasing with a referral from someone they trust."
“Trust,” Jared Fuller, Co-founder and CEO of Nearbound.com and Chief Partner & Ecosystem Officer at Reveal said, “Is the new data."
But the old way of doing things isn’t built on this foundation of trust. As Allan shared, “Almost all of B2B SaaS essentially bypasses the way customers want to buy.”
Embracing this framework isn’t negotiable for companies who want to stay competitive. So, the onus is on them to adjust their tactics accordingly.
Ecosystem orchestration offers a new way of doing things by leveraging trusted networks and partnerships to enhance the customer experience. It’s about harnessing the power of ecosystem data to build and strengthen relationships that matter, keeping trust at the forefront of every transaction.
"Ecosystem orchestration is crucial for building trust because it allows companies to connect with partners and collaborate in a way that builds credibility and reliability,” said Allan. “By working together within an ecosystem, companies can leverage each other's strengths and expertise, which ultimately leads to stronger relationships and trust with customers."
And from Jared: " To cut through the noise, buyers rely on trusted relationships and recommendations from people who have already achieved what they are trying to do. Building trust through ecosystem data and surrounding buyers with trusted voices is essential for success in the new world of business."
Takeaway #2: (Expansion) Ecosystem orchestration is relevant to entire org functionality and should not be siloed.
This new ecosystem-led world doesn’t begin and end with the creation of a partnerships team; it is an all-encompassing go-to-market strategy. Product and content marketers, account executives, customer success managers, and many others are stakeholders within the ecosystem orchestration framework.
Asher Mathew, CEO of Partnership Leaders put it simply: "The true test of an organization's commitment to ecosystem orchestration lies in its ability to embed partnership principles at every level and function."
Allan agreed with this sentiment, saying, "Partner chiefs need to convince the CEO, work with product, work with marketing, work with sales, and customer success to bring all the objectives under one roof."
Luckily, we are already seeing a movement towards ecosystem orchestration representation in the C-suite. Asher shared data on the increase of Chief Partnership Officers (CPOs) on LinkedIn, just in the first four months of 2024:
It is great to see momentum continuing to grow at the top of the org chart. The next step, as Jared noted, is for businesses is to make sure those strategic conversations turn into actions that give all GTM team members the tools they need to thrive in this new world.
Takeaway #3: (Orchestration) Every stakeholder needs access to the necessary products and service solutions in one centralized, integrated location.
As people have begun to recognize the importance of ecosystems, we’ve seen an uptick in products and services that focus on pointed aspects of ecosystem enablement. But as stakeholders multiply and tech stacks expand, a lack of communication between people and tools erodes the network effect. Time that could be spent on ecosystem strategy is diverted to troubleshooting and tech stack management. Crucial aspects of ecosystem management fall through the cracks.
This is where the “orchestration” part of the phrase becomes key. Without a conductor, an orchestra is a room full of musicians who, while talented individually, lack the key element that turns that talent into a concerto performed at full force.
In other words, there’s a big difference between operating and orchestrating an ecosystem.
That’s why we’re so excited to finally launch the 360insights Ecosystem. By bringing best in class tools and services for all these categories into one unified experience, we can help businesses maximize their ecosystem impact. As Jared put it, it’s all about building a world where everyone can win together.
Check out the event launch recording and hear from Heather K. Margolis (CEO at Channel Maven), Kenny Browne (Founder & CEO at Partner Fleet), Simon Bouchez (CEO &. Co-Founder at Reveal), Gina Batali-Brooks (President at Is Inspired), and Aaron Clymer (Partner at Spaulding Ridge) about the tools and services within the 360insights Ecosystem and how they integrate to enable orchestration.
