Only 35% of Tech CROs and Executives Are Very Satisfied With Partner Performance
New MarketBridge report reveals CROs' struggles and priorities in XaaS channel transformation amid an uncertain economy
BETHESDA, Md., January 25, 2023 (Newswire.com) - As technology businesses increasingly rely on channel partners to cover market opportunity, sell solutions, and deliver value-add services to customers, MarketBridge's new report shows that only 35% of Chief Revenue Officers (CROs) and executives are very satisfied with partner performance heading into 2023. The report, "A CRO's Guide to Transforming the Channel for XaaS Success," highlights the challenges and priorities in the channel as vendors push to develop and sell new as-a-service (XaaS) solutions in the face of an economic slowdown.
The shift to a subscription economy presents major go-to-market challenges for vendors. Technology vendors must upskill partners on new delivery models, recruit the best XaaS-ready partners, and convert brand-new buyer personas, all while enabling partners to deliver recurring business outcomes. The report's findings, based on both quantitative benchmarks and interviews with industry leaders, provide a clear path forward for CROs to transform their partner channels for XaaS success.
According to the report, modern partners (MSPs, CSPs, SIs, ISVs) are two times more likely to 'significantly increase' XaaS revenues in the next five years. However, only 35% of respondents on average were 'very satisfied' with partner performance outside of initial opportunity identification. Executives were also three times more likely than managers to believe they are behind the competition in quantifying the right number and mix of partners to deliver target revenues.
Mike Kelleher, Senior Vice President of MarketBridge's Technology Practice, said, "The channel is at a critical juncture. CROs must take a holistic view of their partners and focus on developing a modern, sustainable model that leverages the right mix of partners to drive growth in the subscription economy. This report provides a framework for partner transformation in 2023 and beyond."
Access the report here.
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MarketBridge is the management consultancy that Fortune 1000 companies rely on for sales and marketing expertise. The firm empowers clients to develop, measure, and scale revenue performance strategies powered by its proprietary Go-to-Market Science methodology.