What is partner management?
Partner management describes the overall process of maintaining, supervising, and optimizing relationships with your channel partners. It’s an integral part of a successful indirect sales strategy, as it’s all about nurturing the relationships that enable you to extend your reach, offer a better customer experience, and grow your revenue.
In essence, partner management is a two-way street, centered on mutual benefit. What does effective partner management look like?
- Recruitment: Identifying and engaging the right partners for your ecosystem is the first step. This involves understanding the markets you want to target, or services you want to provide customers, and seeking partners with those characteristics.
- Onboarding and training: Once you’ve found a new partner, it’s crucial to set them up for success. Provide comprehensive training on your products and brand, and equip them with the tools and resources they need.
- Communication and support: Regular, clear communication is key to a successful partnership. Share updates, create a go-to partner portal for them to access on-demand, and address issues promptly.
- Performance monitoring: Measure and evaluate your partners’ performance. This might involve tracking sales data, customer satisfaction levels, or other key performance indicators (KPIs).
- Incentive management: Motivate your partners to perform well by offering incentives, both monetary and non-monetary. This could be financial rewards, exclusive opportunities, or recognition programs.
These many processes can seem daunting, but thankfully, partner management platforms like Impartner streamline this process. From partner training and certifications to communications, business planning, and performance compliance, Impartner handles it all and more with best practices and automation built-in.
No matter your industry, effective partner management is vital. The right strategies and tools can help you build strong, productive partnerships that drive your indirect sales and contribute to your overall business success. Remember, the goal isn’t just to manage your partners – it’s to empower them.