In our last blog, we went over the metrics you can use to determine the health of your channel ecosystem. In this post, we are sharing some suggestions for building and maintaining a healthy program for your channel.
1. Make sure to build the Channel Partner Ecosystem properly.
Channel Partner Programs and channel ecosystems are very delicate. A healthy Channel Partner Ecosystem requires careful planning and well-thought-out partner processes to be successful. Take your time, and don’t just throw things together and expect them to grow!
2. Empower your Channel Partner Ecosystem.
A healthy channel partner ecosystem requires all the partners associated with your channel to have the right company, product, services, training, and resources they need to succeed. It is easy to provide access to training programs, relevant content, and processes or programs based on the different needs of partners' sales, operations, and service teams. Making an investment into channel tech solutions like Partner Revenue Management Platforms (PRMs) can help your teams empower your channel partners with everything they need to drive new revenue opportunities for your company. 3. Encourage your Partners’ Engagement.
Encouraging partner engagement is a key requirement when building a healthy channel ecosystem. Channel partners are generally enthusiastic when you provide them with the tools and training they need to promote your products, and they tend to come back to your portal often to learn more and more—looking for a few ways to encourage engagement from your channel partners. Here are a few suggestions!
Keep your content up-to-date, well-organized, and easy to find
- Use incentive-based programs like MDFs and SPIFFSs
- Enable channel partners to be able to co-brand the materials and drive thru-partner marketing programs
4. Utilize the power of analytics.
Data should be considered your best friend when it comes to monitoring your channel ecosystem’s health. Use the analytical tools in your PRM tools to keep an eye on how everything is going. Look at partner onboarding statistics, identify how partners are engaging with your content, make sure partners are using your training and certification programs, and make suggestions to them on joint marketing programs you can drive together. 5. Commit to continuous growth
Don’t let your partner programs get stale. Channel partners engage more with continually refreshed programs and provide them with new opportunities to position your solution. That helps the channel see that you are equally invested in their growth. See what is working and what isn’t working, and make changes quickly to correct any aspects of your program that are not driving forward momentum. Stay committed to continuous mutual growth; this will undoubtedly ensure the long-term success of your channel programs even in this ever-changing world. 6. Be crystal clear.
A channel ecosystem will become healthier if you regularly communicate with your partners. Maintaining transparency and openness can be difficult but can be rewarding if it is done right! Promote two-way communication and find new ways to share information effectively so that everyone associated with your channel can have access to real-time data. That helps you to get everyone more engaged and invested in your programs. This also helps prevent misalignment or misinformation with your partners and helps reduce or avoid any channel conflict that may occur. 7. Promote cooperation.
Cooperation and collaboration are vital ingredients needed to keep your channel ecosystem healthy. Make sure that everyone understands that you are all together in this journey, and it is not an individual operation. Ensure that everyone is working towards the same goal and is on the same page. Wrapping Up!
Building a healthy channel ecosystem takes time, patience, and continual effort. Design a flexible channel program that changes and grows with your partners. Try new programs, communication methods, and reward programs to keep your partners engaged with your company and recommend your products. Investing in the right channel technology stack can help you automate your partner processes and make it easier for your teams to work together. Schedule a Demo with Vartopia to see how our modular channel technology products can help you build a stronger channel program and reduce the manual processes that are taking your time away from building out new and exciting offerings for your partner community.
