I think I know why Extreme Networks stock has doubled in the last 90 days.
You see, I had the privilege to present to the 800+ incredibly talented and motivated sales professionals at Extreme Networks last week. Along with Joe Vitalone (Chief Revenue Officer) and Ed Meyercord (CEO), we spoke about the how COVID has changed technology sales and I shared my research on the attributes of high performing technology sales organizations.
One key attribute of high performing sales teams is that they have a Partner-centric Philosophy and Extreme Networks is laser focused on their partner ecosystem as they sell their networking infrastructure solutions exclusively through channel partners. This blog post on the Extreme Networks partner program explains their three core program principles: ease of doing business, simplification of the partner program, and channel self-service automation. The use of new technology such as virtual assistants and partner portal applications are at the foundation delivering a better partner experience. While the Motley Fool reported Extreme Networks crushed second quarter earnings as a result of a steady stream of new products, it's important to also recognize their channel-based sales model. So it's not surprising that Channel Reseller News previously named Extreme Networks one of the 25 Hottest IT Infrastructure and Cloud Companies in 2020.
But true business partnerships are more than mutually beneficial relationships, they are also based on long-term friendships where both parties go beyond what’s expected to help each other. I told this story to the Extreme Networks sales team about Joe Vitalone to emphasize the point...
Several years ago, I asked Joe if he would guest lecture at the sales strategy class I teach at USC’s Marshall MBA program. He immediately blocked his calendar and booked/paid for a plane flight, hotel and rental car to make the trip from his home in Texas to Los Angeles. He graciously gave his personal time and prepared in advance for the class. He gave a fantastic real-world career lecture and then patiently answered students’ questions for over an hour. Afterword, he treated the entire class to beer and pizza! Since then Joe has gone on to share his sales experience with other universities and organizations.
The USC motto is Fight On! The motto symbolizes a special bond between all members of the Trojan Family. It basically means that the entire Trojan family is behind you, always rooting you on, and is there to help. I think there is a similar Fight On spirit between Extreme Networks and their partners.
Steve W. Martin is a technology sales expert who has worked with hundreds of hi-tech companies. He is latest book is titled Sales Strategy Playbook: The Ultimate Guide to Solve Your Toughest Sales Challenges. A former SVP of Sales and noted sales researcher, Steve teaches at the University of Southern California Marshall School of Business MBA Program. You can learn more about Steve at www.stevewmartin.com
