Many partner sales organizations spin their wheels providing free consulting services to prospective customers that might never spend a dime. Find out how to avoid this trap and get paid for your advice and win the business, too, during todays concurrent session, How to Charge for Consulting and Professional Services.
Channel strategist Michael Fair will show solutions providers how to build a new revenue stream by monetizing consulting services, including which services to sell and creative ways to charge for them.
The end game for any agent is making money, said Fair, who is a founding partner at MarketRace, a consulting firm that helps companies design, build and execute their channel strategies. They can make more money by not only cross-selling telecom services, but other types of services.
In his workshop, Fair will discuss selling network design and optimization services as well as other marketable skill sets such as sales or channel development, for instance, that partners might not automatically consider saleable.
By virtue of being an agent, they are exposed to the best and worst of the channel program and have a feel for what works and doesnt, he said, explaining that can be leveraged for other service businesses in telecom or in other verticals.
Depending on the types of professional services delivered, compensation mechanisms can vary. Fair will discuss hourly fees, retainers, contingency and equity as ways to turn consulting advice into cash.