Partner Ecosystem Optimization for IoT Solution Provider
Situation
An Israeli IoT solution specialist is entering an exciting new phase in its 5-year lifetime. The company aims to achieve hypergrowth by transforming its business model from directly supporting complex implementations and customer acquisition to one where partners create vertical solutions, lead market development, and manage customer implementations and relationships. However, the Client faces challenges such as unproductive partners, unclear partner needs, and a weak partner/ecosystem strategy.
Project
To address these challenges, Client enlisted JCY Advisors to develop plans for a comprehensive program to support the growth, optimization, and orchestration of its partner ecosystem.
The project focused on efficiently increasing the number, productivity, and success of solution partners, thereby driving active IoT endpoint installations, while ensuring high customer satisfaction and value attainment from the core IoT technology. The approach:
Analyze best-in-class partner-led solution programs offered by leading SaaS providers, categorize key success drivers, and provide client-specific recommendations
Define phased roadmap, including resources, skills, and support, required to onboard, engage, and drive effective partner solution creation and commercialization
Proposed clear, auditable metrics to manage the end-to-end partner lifecycle, including onboarding, co-creation, marketing, and sales stages.
Identify high priority vertical market segments and attractive potential partners to target based on partners industry focus, customers, technical skills, and geographic presence.
Develop a pro forma financial forecast and investment model to justify the execution of the program to key internal stakeholders and investors.
Results
The project positioned the Client for future partner-led growth and success by estimating expected financial returns, setting channel productivity metrics, and driving towards improved service coverage and responsiveness.
Clear ROI on significant investment in business model transformation leading to 5x revenues and 4x number of IoT endpoint installations.
More effective partner management leading to accelerated time-to-value and sharpened value propositions via targeted integrated solutions.
Greater operating leverage through increased channel productivity and consistency while reducing post-sale support and improving service coverage.