Welcome to the Nearbound Daily Newsletter—the #1 partnerships newsletter in the world keeping thousands of partner professionals on top of the latest industry principles, tactics, and trends. nearbound.com is a project of Reveal. Join the movement here.
PRINCIPLES
Four mental models for life and business
Omri Drory, a scientist, founder, CEO, and investor recently wrote a reflection on the ways scientific thinking has impacted his business decisions for NfX.
He outlined the four most important mental models he returns to time and time again. Here are my two favorites:
1. Understand How to Manage (and Manipulate) Energy
His explanation: If you want something to happen you need to get over the “energy hump.” You must apply just enough energy so that the reaction starts to happen, then it flows easily.
Nearbound explanation: There’s an "energy hump" when it comes to partnerships. If you want to make starting a partnership easier for your new partner, then acknowledge how much energy it’ll take to build momentum. If the success of this partnership matters to you, then make the "energy hump" smaller. Bake incentives in from the start.
2. Know Which Rules Are Breakable
His explanation: Man-made rules can be broken, whereas the rules of nature cannot.
Nearbound explanation: There’s a lot out there that’s sold as "the way things should be done," but those are man-made standards. They might be correct, but the difference between man-made rules and the rules of nature is that man-made rules work under certain conditions, whereas the rules of nature are always true. You need to approach the market with an open mind if you’re really going to accept and adopt nearbound GTM.
TACTICS
A quick exercise on customer and partner journeys
If you want to understand something, get close to it. Proximity is a key ingredient of real learning.
I was reading Mark Kilens’ (Co-Founder of ClubPF and TACK GTM) book on People-First GTM which focuses on what it means to be people-first rather than company-first across your company’s complete GTM strategy.
He shared an exercise and I wanted to pass it along.
If you want to understand your customer really well, challenge yourself to:
Create at least one customer journey per week that shows how marketing and sales helped turn a lead into a new customer.
The better you understand your customer and their journeys to you, the stronger partnerships you’ll be able to create.
And then you do the exercise again for your partners.
Challenge yourself to map out a partner journey that shows how you established the partnership successfully and turned the partnership into revenue for your company.
Reflecting on how you’ve created successful partnerships, you’ll likely be able to pull out replicable tactics.
QUESTION OF THE DAY
"Somewhat effective" marketing
Peter Caputa (CEO of Databox) shared some of his team’s preliminary findings on the effectiveness of email marketing content.
Most marketers believe their email marketing is “somewhat effective,” not “very effective.”
Since this data is preliminary, the purpose of his post is conversation.
So, I’m going to share some questions this post incites for me:
Why do most marketers believe their email marketing is only “somewhat effective?” Is it because of numbers like CTR and open rate?
Does this point to a larger issue?
Is there a better way to get customers to take action than CTR?
What do you think? Reply to this email with your thoughts.
Pete would love to have some amazing email marketers contribute to this data set and prove this conclusion wrong: https://lnkd.in/eVnmrQfC
Share this with your marketers.
UPCOMING EVENTS
Stuff you don’t want to miss!
May 7th—MartechDay 2024—Join Scott Brinker (VP Platform Ecosystems at HubSpot) and Frans Riemersma (Founder, MartechTribe) to release the latest Marketing Technology Landscape graphic. It’s a celebration of the thousands of talented people working in martech, at brands, vendors, and across the community. Scott and Frans will also be interviewing key leaders for their deep domain-specific knowledge. Register here.
May 30th—Driving Revenue Through Technology Partners—Learn from Kelly Sarabyn (Head of Product Partnerships Advocacy and Enablement at HubSpot), Asher Matthew (CEO at Partnership Leaders), and Robbie Ptaszynski (Director of Strategic Pursuits and Priority ISV Cosell at Microsoft) as they discuss the revenue impact partnerships teams can have and evolving from re-selling to co-selling. Register here.
Nearbound Summit 2023 Recordings—The future of GTM is Nearbound. Watch the recordings to hear how B2B leaders across departments unite with Nearbound strategies and tactics. Listen here.
You’re all caught up.
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Mastering the Nearbound Rhythm of the Business: Key Takeaways from the Nearbound Book by Andrea Vallejo
A Deep Dive Into the Nearbound Book, with Mike Midgley Part 2
See you tomorrow
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