How to Build Credibility Through Channel Partners: A SaaS Case Study
Content without credibility is often dismissed as noise.
But the quickest way to establish credibility in your market is to have industry experts advocate for your product and your brand.
Here's a case study on how to do that 👇🧵
I recently spoke with the CEO and co-founder of Benepass, an employee benefits platform, and asked about the strategies the company used to accelerate its growth.
Here are my key takeaways from our conversation.
1/ Collaborate with channel partners to build credibility and extend your product reach.
Early on, Benepass learned that health insurance brokers were trusted advisors to their buyers.
As a result, the company started educating the broker market about its product offerings.
This strategy empowered brokers to better assist their clients.
And brokers became product evangelists who recommended Benepass to the 10 to 20 clients they served.
This greatly increased Benepass's reach, reputation, and brand awareness in the employee benefits market.
To further amplify the ‘educating the market’ strategy, Benepass started publishing benchmarking reports based on industry standards and trends.
Today, the company's partner & content strategy drives demand at the top of the funnel, while the company’s specialized sales team focuses its effort on closing deals.
2/ Use specialized roles to improve the efficiency of your sales team.
In a traditional sales funnel, Sales Development Representatives (SDRs) usually drive top-of-funnel activity through outbound initiatives.
But Benepass took a different approach to improve their conversions.
Benepass pivoted Reps into more of a Business Development role where they focus on reaching out to warm leads.
This transition was supported by the company's targeted marketing content and broker channel.
To further refine the company’s sales engine, Benepass realized the importance of specialization to improve efficiency.
Instead of having Account Executives cover all stages of the pipeline, they mostly focus on closing deals, while BDRs qualify opportunities.
3/ Leverage a pricing structure that supports organic expansion.
Your company’s pricing model is more than just a way to capture initial revenue; it's also a way to support your customer’s growth while improving your net dollar retention.
For Benepass, that meant having a pricing model that scales alongside its customers.
As customers hire more employees, they naturally add more seats and spending accounts.
This leads to organic expansion in revenue for Benepass without additional sales efforts.
Learn More
If you want to read the full Benepass case study, check out the link below 👇
