By engaging with the Mindshare methodology, and following the corrective actions suggested as a result, a well-known EMEA-based software vendor was able to see a tangible and correlative improvement in several areas of their measurable performance over time.
Five main areas of corrective action were suggested as a result of the Mindshare mapping conducted on behalf of the vendor. The first was a “ramping up” of their partner ecosystem, followed by action taken to address the notable and consistent weakness that was shown in the capacity for effective two way conversation between vendor and channels. It was noted that their main competitor enjoyed much more effective engagement with partners, and the advice suggested to remedy this was followed to great effect. Having identified their competitor’s relative weaknesses (most significantly, their perceived reliability) the vendor was able to work these to their best competitive advantage. Finally, where trust and collaboration lagged behind the best in class, investment was made in these areas.
Over the course of 18 months three separate Mindshare surveys were conducted. As the recommended action previously outlined was taken, each survey showed an ever-increasing uptick in the Mindshare score, positively correlating with performance (as measured by revenue, share of wallet, frequency of purchase, partner retention etc.) Significant and tangible improvements included a 10% increase in revenue over the period, 20% improvement in retention rates, and a reduced cost to revenue ratio, as productivity was boosted by bigger deals and an improved onboarding process.
“We have applied the Mindshare Diagnostic Model to our business across nearly 25 countries and seen very positive impacts within 18 months. The results are tangible; helping us develop the competitive edge to take significant share from our key competitors.”
Partner Network Director