INDUSTRY
Telecommunications
SOLUTION
Channel Partner Managed Sales
Situation
An industry leader in unified communications as a service (UCaaS) and contact center as a service (CCaaS) solutions needed a sales team to focus on mid-size customers within their largest service provider channel partner. Their partner relationships spanned decades, and both companies knew capturing additional market share in this growing business sector would pave the way for high sales volume, generate high-margin services revenue, and create a new customer base they could migrate from one solution to the next as their businesses evolved and grew. Despite the sales resources the service provider brought to bear and their organizational alignment around the sale of our client’s solutions, they lacked sufficient expertise in this particular customer segment to take full advantage of the rapidly growing market opportunity.
CHALLENGES
No dedicated sales team
Insufficient channel partner expertise
KEYS TO SUCCESS
Sales cycle improvement
Inside + field sales teams
Solution
Functioning as an extension of the channel partner’s own sales teams, MarketSource assumed responsibility for and managed the entire direct sales cycle—from lead generation to contracting, including opportunity qualification, design and proposal generation, solution review, demonstrations, and selling. We did this through a team of inside and field sales professionals, as well as design engineers, who are certified in our client’s product portfolio and dedicated to selling its products to their channel partner’s shared customer base.
With an average tenure of nine years, the team was responsible for driving brand awareness for our client through educating the channel partner’s sales teams on our client’s portfolio. These channel enablement activities ensured the partner’s sales teams were able to identify and engage in opportunities to position and sell our client’s products.
Results
Our channel enablement and management approach enabled our client to gain $50 million in product and services revenue, representing more than 9% in year-over-year growth. MarketSource delivered five record-breaking sales quarters, as well as a ten-to-one revenue-to-expense ratio, and a more than 30% close rate on new sales opportunities.
$50M
in product + services revenue
+9%
year-over-year growth
10:1
revenue-to-expense ratio
+30%
close rate on new sales opportunities