2023-07-03 12:00:00
00:37 — Press releases announcing partnerships between independent software vendors (ISVs) and big tech firms like IBM, Microsoft, and Salesforce generate a lot of fanfare and excitement, much of it around the race to artificial intelligence (AI). But without a concrete plan to commercialize the offer, they don’t mean much. Every time you see one of these partnership announcements, ask: Is this hype or hope?
01:47 —When big-name cloud vendors announce their latest AI partnerships, there’s an impression that something big is on the horizon, a game-changing innovation or groundbreaking product. However, a partnership press release is essentially a statement of intent. While it signifies a commitment between the two firms to work together, it doesn’t guarantee a tangible product or service.
This episode is sponsored by “Selling to the New Executive Buying Committee,” an Acceleration Economy Course designed to help vendors, partners, and buyers understand the shifting sands of how mid-market and enterprise CXOs are making purchase decisions to modernize technology.
02:27 — Usually, the issue isn’t the product or the technology; it’s the commercialization plan. Commercialization refers to the process of introducing a new product or service into the market in a way that makes it attractive to your ideal customer and sellable by the ideal sales channel. It’s the bridge that connects the intent stated in the press release to a real-world product or service that customers can buy and then ultimately use.
03:05 — For a product or a service to be successful, it must be accessible through “all routes to market.” These routes may include direct sales, indirect sales, online marketplaces, and even brick-and-mortar stores for some.
03:51 — In a successful commercialization strategy, you want to see features with pricing and purchasing details. For example, will it be contracted or non-contracted? Will there be early termination fees? How will it be sold? How will implementation or training be offered? Without these details, the product is still in the planning phase. This may mean that you, as an ecosystem partner, won’t be profiting from it very soon.
05:05 — The next time you see a press release announcing a partnership between a tech giant and an AI specialist, look beyond the headline. Ask yourself, is there a clear plan for commercialization? Are all routes to market considered and enabled? Is it clear how end users buy this? If the answers are yes, then there’s real cause for excitement. If not, it may be best to curb your enthusiasm until a detailed strategy emerges. Because without a clear pathway from partnership to product, a press release may mean very little to your bottom line.
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