18
Jan
2023

Blog

Mastering Lifecycle Incentives to Increase Reward Profitability
Mike Johnson

Customer Success Manager

Mike is a performance driven strategic sales leader with extensive experience driving revenue. He has industry knowledge and sales team success in digital Marketing, Cybersecurity, Application and Network Performance monitoring from the end user perspective.

Prior to Netformx Mike held management positions with leading technology companies including Gigamon, Dynatrace, Riverbed, HP, and IBM, and he is now passionate about improving profitability for Cisco Partners.

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Mastering Lifecycle Incentives to Increase Reward Profitability

Hello Cisco Partners,

Cisco’s Customer Experience program is a win-win-win

Cisco made a major strategy shift when they invested in the Customer Experience program. The CX program stimulated development of partner Customer Success practices that focus on a customer’s end-to-end journey. This approach is benefiting all involved, but the end goal is that it will impact revenue for Cisco and Cisco Partners.

  • End-customers receive your customer-first support:
    • They know that you are committed to ensuring their successful investment in Cisco subscriptions and services.
    • You give them a master class to preview what success looks like.
    • They can rely on your help with their subscription adoptions and activations.
  • Partners become trusted advisors:
    • As a trusted advisor, your customer will work with you to expand their Cisco investments into the future.
    • Higher renewal rates will provide you a recurring revenue stream.
    • Aligning with Cisco’s Lifecycle Incentive (LCI) program and using best practices will reward you financially.
  • Cisco success depends on partner success:
    • Cisco wants the world to know they have the best partners—partners who truly support their end-customers.
    • The CX program assures Cisco that an end-customer will continue to purchase Cisco offerings because of excellent ongoing partner support.
    • They want to reward their partners handsomely for selling Cisco.

 

The Netformx value-add

In this blog, we will take a look at just one element of how Partners benefit by having a customer success practice and that is by earning LCI rewards. Cisco has invested heavily in PXP tooling to simplify how partners capture Lifecycle Incentive rewards. With PXP, partners have data available in a single dashboard and some program management.

However, many partners want to have a more efficient process to earn LCI rewards. They need more than raw data. Instead, they want more powerful and digestible dashboards, as well as access to additional information and insights they can use to quickly prioritize tasks and actions.

This is where Netformx steps in.

Yes, Netformx has much of the information partners can access in PXP, but we offer so much more to help you master the complex LCI process and capture more rewards.

At Netformx, we focus entirely on tooling to simplify program profitability and provide insights to renew and increase revenue.

With Netformx you get the advantage of:

  • A presales view of LCI-eligible opportunities for Cisco direct—as well as distribution—deals, and LCI reports
  • Real-time visibility of LCI opportunities after the deal is booked, and estimated disti costs
  • Prioritized LCI opportunities so you can address activities by due date
  • Quick drilldowns to focused dashboards to manage the reward process for adoption and use-activate activities, and track payments
  • Insights to easily manage Smart Net contracts, software subscriptions, and asset renewals

Mastering Lifecycle Incentives to Increase Reward Profitability

This is just the tip of the iceberg of the value that Netformx provides to enhance and augment beyond what PXP offers today.

Want to learn more about how Netformx tools supplement PXP to provide you with fast, comprehensive Tier 1 and Tier 2 data and LCI insights, both pre- and post-sale?

Reach out to me at mike.johnson@netformx.com.

Mastering Lifecycle Incentives to Increase Reward Profitability

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