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Cisco partners, before I dig into anything here, let me start by asking you this: If you could do something for your business that would help you drive 3X more software recurring revenue with your customers, would you be interested?\u00a0 Of course you would!\u00a0 And you know where I am going don\u2019t you?\u00a0 The everlasting topic of building your lifecycle practice, which is all about helping your customers achieve their desired outcomes by adopting your services and technology. All of this while maintaining a positive customer experience along the way.\u00a0 This language is all around you.<\/p>\n
Today, 80% of sales calls are still focused on a product pitch and not the buyer\u2019s needs. Yet, customers have evolved their focus. They are looking beyond just purchasing products. Customers want to achieve business outcomes from the technology they purchase. They want a partner who can align with them and help them deliver the value they seek.<\/p>\n
You are probably aware of the potential lifecycle benefits to your business. By adopting a lifecycle practice, you can strengthen your customer relationships, achieve higher renewal rates, and build more predictable recurring business streams. You also and differentiate yourself in todays\u2019 transformational, competitive market.<\/p>\n
You know all of this, yet you haven\u2019t built a lifecycle practice with Cisco.<\/p>\n
I suppose it is easier to just do what you know has helped you build a successful practice with Cisco and your distributor so far: \u00a0You know how to land and close deals.\u00a0 That\u2019s it. Perhaps where you struggle is the next step in building a repeatable sales motion to drive adoption, expansion, and renewal with those very same customers\u2014passing up to 10 points higher renewal rates and up to 20% higher services bookings.<\/p>\n
Let me share a hypothesis I have on what I suspect is going on. It might be too overwhelming to get started.\u00a0 One or all the following myths are preventing you from getting your lifecycle practice underway:<\/p>\n
Myth #1: <\/strong>It\u2019s too much work to make it worth my while.<\/p>\n Myth #2: <\/strong>It requires customer experience expertise I don\u2019t have.<\/p>\n Myth #3: <\/strong>It requires a hefty investment to get started.<\/p>\n Well, it\u2019s time for a little myth busting because there is help on the way in the form of Customer Success-as-a-Service with your Cisco distributor. They can assist you in building your practice, provide hands-on support and collaboration, or manage the majority of the process for you.<\/p>\n I cannot stress this enough: It is much easier to keep and retain your existing customers and build your business with them than to go out there and prospect for new customers. \u00a0The higher customer churn you have the lower the probability you can scale a subscription-based business or become profitable over the long term.\u00a0 When you drive a positive experience with your customers and ensure they are adopting and deriving value from the technology they have invested in, they will come back and buy that much more. The multiple is huge.<\/p>\n This is where your distributor can help you build your lifecycle practice. \u00a0With Cisco\u2019s unique customer experience methodology and focused investments in outcome-based and lifecycle-centric service offerings, Cisco and your distributor can play an important role as you start your lifecycle journey.\u00a0We\u2019ve seen a 52% increase in profitability after the initial sale when a Cisco partner has a lifecycle practice.<\/p>\n When you take advantage of Cisco Enterprise Agreements (EAs), the multiple is even higher.<\/p>\n Suppose your Webex customer needs secure networking, but you don\u2019t have the expertise, skills or advanced security, cross-architecture certifications or qualifications to sell across Cisco\u2019s portfolio. Take advantage of your distributors\u2019 capabilities to help you scope and quote an EA and then help manage the license activation and utilization through their Distributor-EA-as-a-Service. Rely on their expertise. You can enter an agreement with your distributor, and they will transact it for you. You get the opportunity to sell secure networking instead of your Webex customer looking elsewhere. (And this goes for the rest of the Cisco portfolio as well. Sell that too, along with secure networking!) When you close a recurring software deal with an EA, the propensity for your customer to renew or expand that EA is that much more likely.<\/p>\n Many partners are already taking advantage of this service. \u00a0Cisco\u2019s Distributor-EA-as-a-Service on behalf of 2T partners, drove an astounding 140% growth in EA\u2019s last year.<\/p>\n Customer experience encompasses the entire lifecycle journey a customer undergoes from purchasing a Cisco solution through to renewal. \u00a0Some partners have a lifecycle practice and customer experience employees who are seasoned behind-the-scenes professionals focused on creating and validating a positive customer journey. They ensure that every touchpoint aligns with the customer\u2019s expectations and desired outcomes.\u00a0 Perhaps you don\u2019t have that.\u00a0 This is where you can lean on your Cisco distributor.\u00a0 Cisco\u2019s Customer Experience Specialized distributors\u00a0account for a whopping 80% of our 2T recurring business!\u00a0 Turn to them to help you build your lifecycle practice journey towards value realization for your customers. \u00a0Cisco has hundreds of 2T Customer Experience Specialized partners that have earned their customer experience specialization (Cisco also refers to the Customer Experience Specialization as CX Specialization)\u00a0with the help of a Cisco distributor, and they have grown their recurring software business over 50% in the past year.<\/p>\n We realize that you may not be in the position to invest in the headcount and resources it takes to get your lifecycle practice up and running.\u00a0 Again, this is where your Cisco distributor can help.<\/p>\n Distributors are an extension of Cisco. \u00a0They are invested in your enablement for your customer success. Many have sophisticated lifecycle platforms, monitoring and ensuring that your customers effectively use Cisco\u2019s technology.\u00a0 They can help you build success plans and playbooks to help you guide your customers toward achieving their goals.\u00a0 They have invested in the resources, technical and lifecycle capabilities, and built the expertise to help you build your lifecycle practice.<\/p>\n Work with your distributor as you identify deals and let them help you build a customer engagement and success plan. They very well have a customer success manager (CSM) on their team who can guide you the entire way and help you build a success plan for your customer.\u00a0 Mastering the nuances of customer success with your CSM, you can transform your customer engagement strategies and drive growth this year and beyond.<\/p>\n Cisco\u2019s partner lifecycle program is flexible.\u00a0 We will meet you where you are.<\/p>\n In this blog, I have been speaking directly to those partners who have not yet started a lifecycle practice.\u00a0 The reality is that every Cisco partner is different and in varying stages of building their lifecycle practice.\u00a0 The good news, Cisco\u2019s partner lifecycle enablement program is flexible.\u00a0 We will meet you where you are today: whether it is \u201cManage it all for me distributor,\u201d or \u201cPlease join me distributor managing my lifecycle practice with me, or \u201cLet me manage it myself.\u201d<\/p>\n Cisco distributors can help you to transform and thrive, no matter what stage you are in the lifecycle.\u00a0Let\u2019s begin this journey together to ensure both you and your customers\u2019 success.<\/p>\n \u00a0<\/p>\n We\u2019d love to hear what you think. Ask a Question, Comment Below, and Stay Connected with #CiscoPartners on social!<\/p>\n Cisco Partners Facebook\u00a0\u00a0| \u00a0@CiscoPartners X\/Twitter<\/a>\u00a0\u00a0| \u00a0Cisco Partners LinkedIn<\/p>\n Share:<\/p>\n \n \t<\/div>\nMyth #1: It is too much work to make it worth my while.<\/h2>\n
Myth #2: It requires customer experience expertise I don\u2019t have.<\/h2>\n
Myth #3:\u00a0 It requires a large investment to get started<\/h2>\n
Take advantage of these resources available to you:<\/h2>\n