Channel Partners are like the heart of every Channel Partner Program!They are the ones who represent you and carry your reputation. And most importantly, they are in direct contact with the customers. In short, channel partners are the driving forces of any organization. But why is it so often that the partners feel neglected? Is it what your partners are also feeling? If yes, then partner engagement and appropriate channel partner management is the key to bringing channel success. So, what can be done to enhance this partner engagement? Will allocating more time and resources help improve the involvement? Or altering the channel partner strategy will enable better integration? Or generally, paying attention they require would work? Read on to get answers to all these queries.
What does the study suggest?A recent paper by Model N revealed that the enterprise’s channel partnerships account for sixty percent of large firm revenue worldwide. As per the IDC, 86 percent of customers make a purchase through channel partners. This indicates the critical role channel partners play! And this certainly calls for building a healthy relationship with the partners. And unfortunately, despite such significant importance, the partners are often left behind when the companies develop their digital strategies. Several companies still focus on the initial waves of digital modifications, including enhancing customer engagement, marketing, and employee engagement but miss out on the opportunity of paying desired attention to the channel partners’ engagement.
When a customer is unhappy, you could lose one customer!
But when a channel partner is unhappy, you could lose around 50 to 100 customers overnight!So, would you like to compromise on losing this much of the brand audience? Of course not! Let us check out a few channel management solutions to give your channel partners the desired and required attention!
1. Channel Partner Training and Certification, feedback, and supportThe lack of support, specific niche education and certifications, and feedback everything impacts the overall channel partnership dynamics. Attention is the key! The lack of support for the channel partner would make them walk away but giving the desired support and certifications can do wonders. If the solution requires any type of education, training, or certifications or simply doesn’t have any distinct value proposition in contradiction to your competition, then certainly the channel partners become your value proposition. When they are taken care of and well supported, your solution sells itself! What can you do?
- Show up commitment to channel partners from the beginning
- Research and understand the channel partners’ way of business
- Orient the channel partners' onboarding expectations
- Show your channel partners a plan
- Get feedback from the channel partners
- Be honest with the channel partners
- Be different from competitors
- Make channel partner advisory council
2. Barrier EliminationBetter integrate the channel partners into the channel program! Engage with the channel partners in a better way! The best way is to pay attention to your channel partners before they require it! It imparts a sense of more genuineness from your end. Share the channel strategy with them to give a better vision of the products or services; take their ideas. After all, they are the ones who directly communicate and interact with your audience. So indeed, they may have better ideas that may be beneficial in several aspects. Along with this, one essential thing that needs to be taken care of is that the channel programs must be structured to fit the business requirements, and neither be too easy nor too hard for the channel partners. Ensure to create of a trusting environment for channel partners across the entire channel.
3. Inspire more Channel Partner EngagementBe more mindful and inspire your channel partner’s engagement. So, you finally have onboarded an excellent channel partner who is not only good, but you also have a nurtured relationship with them! Well, only great work and nurtured relationships are not enough. Inspire the channel partners for some more engagement with the help of
- Joining you on a webinar
- A partner spotlight in the company newspaper
- Or at your events
“Lay a good foundation for your channel partners, give them the attention they desire, and the outcome will be certainly rewarding.”
How can this desired attention to the channel partners be imparted?
- Work closely with your partners.
- Get feedback from your partners.
- Give rewards to your channel partners.
- “APPRECIATE”their performance, so they never feel undervalued!
- Learn about your channel partners
- Pay attention to what they are asking for
- Implement incentives for the channel partners
- Establish strong relationships with the channel partners
Final Takeaway!Working with the channel partners calls for unique requirements! Whether working with partners, distributors, resellers, or any other, well-supported partners can do wonders. They are the ones who drive revenue, provide customer support, and represent your brand. And ultimately, their contributions have the potential to go beyond that! Since they are the face of the company with buyers and know the customer requirements for the new products, they play an intricate role in shaping future offerings and innovations. And nurturing your relationship with the channel partner means gaining a unique perspective on the future of the business and using foresight to stay ahead of others. Request a demo today to see endless opportunities to manage your channel partners the right way!
“Multiple channel partners represent the same vendor; out of them, some may try to win a particular opportunity with a differentiated value addition; therefore, their needs and desires must be taken care of.”