Few things can provide growth and leverage for technology companies wanting to expand their business than partners do. Here are some proven steps to help you get the most from your channel program and working with partners.
1. Develop your value proposition.
So, you've decided you need to build a channel partner program. Developing a partner value proposition can help you set the groundwork for your program and can help you define why and what partners will want to align with your company.
It includes:
- The economics of a partnership
- The skills required to sell & service your products/services
- The level of support you will provide
- Competitive advantages
- Marketplace overview
- And much, much more
At the very least, you should be able to tell potential partners how they can make money and how long it may take to generate profits, and you should include estimates on how much of an investment in time and money they will have to put into your program to be successful.
2. Identify your ideal partner type(s).
Before recruiting partners, you will want to define your ideal partner's attributes and minimum requirements. Think of your partner community as an ecosystem that can grow your market and start by defining the abilities they may need like:
- Marketplace & company size
- Current products/services
- Complimentary/competitive product mix
- Technical skill set & knowledge
- Installation and project management
- Sales & marketing
- Geographical logistics
- Service management
- And more
Your goals are to avoid partner conflict, margin erosion, and other problems that develop when a company recruits indiscriminately.
3. Define a program structure.
Once you decide to do business with partners, building the foundation for your partner program is essential. You will find quickly that different partner types need different levels of support, rewards, and more. Many companies tier their programs to help distribute rewards and benefits more efficiently. This allows them to allocate rewards and support systematically. While "top" partners continue to receive the most benefits, the definition of value is evolving. No longer is value defined solely by sales volume alone in many fields. Value can be superior know-how, unrivaled logistical capabilities, or uncompromising customer service.
Not all partners participate in sales. Some may develop intellectual property on top of your own. Others merely refer business your way. Still, some partners provide value in other ways.
A robust program can accommodate many different types, including:
- Sales partners (resellers, agents, etc.)
- Influencers (researchers, media, consultants)
- Advisory firms (market researchers, accounting firms, business consultants, etc.)
- Online marketplaces
- And more
4. Determine your onboarding process & requirements.
Technology companies expect to be able to enroll in your program in less than a few days. They also demand that training materials, certification, marketing brochures, and sales sheets be available when admitted into the program.
5. Outline your partner sales and marketing requirements
Your partners will require sales and marketing materials such as:
- Sales brochures
- Email marketing campaigns
- Product overviews
- Blogs, Social Media posts, battlecards
- And more
Building and maintaining these can be very labor intensive and costly. Outsourcing your Channel Marketing can save you money and help you get your program to market quicker.
6. Channel Partner Portal
Once you have your channel partner program goals outlined, you will to need to consider launching a Channel Partner Portal. The portal will give your partners access to the documentation, materials, training, and marketing they need to be successful in the program.
The partner experience is the most important aspect of channel success – happy partners produce better results, and getting your partners the materials, training, and marketing they need is critical. It should not be just an additional task assigned to a member of your marketing team.
If you do not have the resources or the expertise to build and manage a Channel Partner Portal a Managed Partner Portal may be a good option for you.
So, there you have it… the beginning steps to create a professional channel partner program. Please remember, an amazing partner program doesn't stop after you get it launched. You need to continue to improve and innovate your channel program every quarter. The market, your competitors, your offering, and partners continuously innovate, and you need to make sure you keep up.