Summarizing the Video Transcription

Key Takeaways:

• New customer engagement is a critical growth strategy for AWS, and they are looking to partners to help them land and expand in new customer accounts.
• AWS is providing more capacity, incentives, and enablement to help partners drive Greenfield (new customer) opportunities.
• Partners have a significant opportunity to capitalize on the Greenfield market, as for every $1 in AWS services sold, partners can potentially earn $6.4 in revenue.
• Successful Greenfield strategies require executive commitment, dedicated resources, targeted go-to-market approaches, and collaboration between AWS and partners.
• AWS is providing guidance and best practices to help partners build effective Greenfield practices, including recommendations on entry-level solutions, sales plans, and go-to-market campaigns.
• AWS is aligning its sales organization to be "partner-first" and is building scaling programs and mechanisms to enable partners to drive Greenfield opportunities.
• AWS is offering incremental incentives to help partners build a sustainable and profitable Greenfield business, including customer engagement, specialization, and migration incentives.

Detailed Summary:

Understanding Greenfield and New Customer Engagement

• AWS defines Greenfield as the first, early-stage customer or early workload across any customer segment, which sets the foundation for future growth and migrations.
• Partners are the best positioned to help AWS land and expand in new customer accounts, as they have the customer relationships and expertise.
• AWS is "tripling down" on its new customer engagement strategy, building more capacity and incentives to help partners drive Greenfield opportunities.

The Partner Opportunity in Greenfield

• For every $1 in AWS services sold, partners can potentially earn $6.4 in revenue, and this multiplier is even faster for net new customers, up to 61% in the first year.
• This is because when partners land and gain trust with a new customer, they can build a multi-year growth commitment and retain the customer.
• AWS has learned that Greenfield is a different and more challenging proposition than targeting existing customers, so they are providing partners with the necessary enablement, programs, and artifacts to understand AWS's internal approach.

Building a Successful Greenfield Strategy

• Greenfield requires executive commitment within the partner organization, dedicated resources, and distinct go-to-market approaches compared to existing customer segments.
• AWS recommends a phased, incremental approach, starting with a small, targeted Greenfield initiative that can provide the necessary learnings and muscle to expand the strategy.
• Key elements of a successful Greenfield strategy include:
  • Executive commitment
  • Dedicated resources and teams
  • Targeted go-to-market approaches and sales plans
  • Identifying the right point-of-entry solutions
  • Executing targeted marketing campaigns and pilots

AWS Enablement and Incentives for Partners

• AWS is aligning its sales organization to be "partner-first" and is building scaling programs to enable partners to drive Greenfield opportunities.
• AWS is offering incremental incentives to help partners build a sustainable and profitable Greenfield business, including:
  • Customer engagement incentive
  • Specialization incentive (e.g., SMB expertise)
  • Migration incentive

Partner Call to Action

1. Think big about your new customer acquisition strategy, whether that's moving on-premises customers to the cloud or pure Greenfield opportunities.
2. Determine the investment you will make in dedicated resources, such as headcount and lead generation, to support your Greenfield strategy.
3. Start somewhere by operationalizing your Greenfield efforts, leveraging AWS's funding programs and building targeted point-of-entry solutions.
4. Track insights and continuously optimize your Greenfield go-to-market approach based on what's working and what's not.