Coopetition – i.e., collaboration with another company while simultaneously competing with them – is increasingly pervasive with many business partners, including strategic customers. Unfortunately, many organizations fail to capitalize on opportunities and/or incur unnecessary risk because they don’t employ effective strategies for managing coopetition. According to our research, 30% of respondents say their companies are “very effective” at managing coopetition, 49% say they’re “somewhat effective,” and 10% say they are “not effective.” Another 10% report that their companies do not engage in coopetition.
How do sales professionals stack up? For a start, they are almost twice as likely as their buy-side counterparts to say their companies compete with business partners “a great deal.” Join Vantage Partners’ Jessica Wadd and Ben Siddall on July 16 to learn more about how sales professionals experience coopetition, strategies for managing it, and its impact on performance.
In advance of this webinar, please consider answering five short questions about your experience with coopetition here:
Ben Siddall is a partner at Vantage Partners, where he works with sales organizations to achieve breakthrough results by collaborating with their customers to identify and deliver new forms of value; defining relationship management and account governance processes; and negotiating more creative and effective agreements. Ben works with sales organizations in numerous sectors, with a particular emphasis on pharmaceutical, manufacturing and professional services. Ben received his JD cum laude from Georgetown University Law Center and his B.A. magna cum laude in political science from Boston University.
Jessica Wadd is a partner at Vantage Partners, where she brings expertise in customer-centric selling, negotiation, relationship management, change management and strategic alliances. She also frequently leverages ideas from the fields of behavioral economics and game theory to help clients develop breakthrough sales strategies and navigate difficult situations with individual customers and partners. Jessica has worked with clients across a broad range of industries, including high-tech, manufacturing, financial services, life sciences, healthcare and professional services. Jessica holds an MSc in Behavioral Economics from the University of Nottingham as well as BAs in both English and Economics from Bryn Mawr College.