As a partner management leader, driving incredible lead demand through channel partners is crucial for the success of your business, and scaling partners economically is a priority for many organizations. The combination of cutting-edge partner automation marketing technology and managed services is essential to create partner demand at scale. Based on our MasterClass discussion with Sherpa, we're sharing actionable tips, best practices, and industry insights to drive incredible channel partner lead generation at scale.
By implementing these strategies, you can unlock the full potential of your channel partners and drive remarkable channel partner lead generation.
Why is channel partner lead generation so important?
Partner lead generation is vital for businesses aiming to expand their reach, accelerate revenue growth, and tap into new markets. Here's why it's so important to scale up your lead generation with partners.
- Scalability: Partnering enables you to scale lead generation efforts across regions or market segments and adapt to market changes
- Efficiency: Partner lead generation allows businesses to leverage the expertise and capabilities of their channel partners, reducing the burden on internal marketing and sales teams
- Time savings: With partners, companies can save valuable time and allocate their resources more efficiently, focusing on other strategic initiatives and core business functions
- Extended market reach: Partnering with other organizations allows you access to their customer base and market presence, reaching a wider audience
- Specialized expertise: Partners bring complementary skills, knowledge, and resources, enhancing your lead generation efforts and targeting of prospects
- Increased credibility: Reputable partners that endorse your offerings boosts credibility and builds trust with potential customers.
- Cost-effectiveness: Partnering reduces costs by sharing investments in marketing campaigns and content creation
- Collaborative marketing power: Joint marketing efforts can amplify reach, improve campaign effectiveness, and generate high-quality leads
Focusing on partners to drive leads is not just a current necessity, but also represents the future of business, emphasizing the shift towards more cooperative and collaborative partnerships in an increasingly interconnected and interdependent global marketplace.
How to scale your channel partner lead generation
It's an exciting time to be engaged in partnerships, as advancements in technology and the availability of new tools have opened up vast possibilities for scaling your channel partner lead generation while enabling hyper-personalization to engage your partners.
We cover some of our best tips below, but you can also watch the full webinar for our in-depth discussion with Sherpa.
1. Start by assessing your partner's capabilities
Before investing in partner marketing to drive leads, it's essential to assess the capabilities of your channel partners. Use a partner assessment product that measures marketing skills, marketing maturity, and revenue potential to identify partners that are ready to scale. This may include:
- Conducting a comprehensive partner assessment using a structured framework
- Evaluating partners based on marketing signals, engagement signals, and enablement signals
- Visualizing partner attributes and readiness for scale to make informed investment decisions
For example, a partner assessment could reveal that a FinTech company's partner is demonstrating high marketing skills, engagement, and revenue potential. This could lead the company to provide additional resources and support to help this partner drive greater demand.
2. Allocate the right investments
To maximize the effectiveness of your channel partner lead generation efforts, it's crucial that you allocate your marketing investments strategically. Taking a data-driven approach to resource allocation can help ensure that the right partners receive the necessary support.
You've already done an assessment. Now, when determining how to allocate marketing investments, take into account these factors such as partner attributes, marketing skills, and revenue potential. Partners who possess strong marketing capabilities and demonstrate high growth potential should be prioritized for additional support.
From there, implement a tiered support model to decide where to put your marketing dollars. This model should define different service levels, ranging from self-serve to managed services, based on partner performance and resources. By categorizing partners into different tiers, you can effectively allocate resources according to their specific needs and growth prospects.
And, once you have determined the support level for each partner, communicate this information clearly. Provide your partners with transparent guidelines outlining the allocated support level and the corresponding benefits and resources they can expect. This clear communication helps set expectations and fosters a collaborative relationship between you and your partners.
3. Build a hyper-personalized partner program
A one-size-fits-all approach for your partners simply doesn't work. Different partners have unique requirements and capabilities, and tailoring your programs to meet their specific needs can make a significant difference when it comes to channel partner lead generation.
Here's how to build a hyper-personalized program that drives leads:
- Cater to partner diversity: Recognize the diversity among your partners and design programs that cater to their individual needs. Offer a range of program elements and support models that partners can choose from based on their goals and target markets. Consider including activities such as joint value proposition work, opportunity marketing, nurturing enablement, verticalized campaigns, self-serve kits, virtual event support, and managed partner marketing.
- Provide a menu of options: Offer a menu of program elements and resources that partners can select from, based on their preferences and objectives. By providing a variety of options, partners can choose the elements that align best with their capabilities and growth strategies.
- Continuously assess and update: Partner programs should be dynamic and adaptable. Regularly assess the effectiveness of your programs and gather feedback with partner surveys to ensure their relevance and impact. Make necessary adjustments and updates to keep pace with changing market dynamics and partner requirements.
By customizing partner programs, offering diverse options, and continuously refining them, businesses can empower their partners to maximize their revenue potential.
🔎 Discover more: Learn how Mambu doubled partner deal registrations, boosted productivity, and saved admin time with Impartner.
4. Collaborate on co-marketing initiatives
Forge strong relationships with your channel partners through co-marketing collaborations. Work together to develop joint marketing plans, co-create content, and execute campaigns. Leverage the strengths and expertise of both parties to generate high-quality leads and drive mutual success.
This will typically involve:
- Establishing regular communication channels and collaboration frameworks with your partners
- Conducting joint marketing planning sessions to align goals, target markets, and messaging
- Automating marketing campaigns, when possible, on behalf of your partners
- Co-creating content assets such as white papers, webinars, and case studies to enhance credibility and attract leads
For example, a manufacturing company could collaborate closely with its channel partners to create co-branded ads content for LinkedIn. By combining resources and expertise, they could generate a significant number of qualified leads at lower cost.
🔎 Discover more: Co-marketing is a big subject. Find our full guide on how to create a co-marketing plan, along with examples to inspire your campaigns!
5. Leverage technology and automation
Embrace partner marketing automation solutions to streamline and optimize your channel partner demand generation. Use technology and automation to automate campaign execution, track leads, attribute revenue, and optimize marketing spend. PMA solutions can empower partners to run effective campaigns while reducing the administrative burden on them and your marketing team.
With the right PMA tools, you can:
- Streamline and scale your partner demand generation efforts.
- Provide partners with access to a centralized platform where they can access pre-built campaigns, marketing assets, and analytics
- Leverage automation to track lead activity, measure campaign performance, and attribute revenue to partner-generated leads
From there, remember to track and measure the performance of your channel partner lead generation efforts to identify areas of improvement and optimize your strategies. Monitor key metrics such as lead quality, conversion rates, and ROI. Regularly analyze data and feedback to refine your approach and maximize revenue.
Maximize your partner revenue
Effective partner lead generation is an ongoing process that requires monitoring, adaptation, and refinement. Stay proactive in supporting your partners, nurturing relationships, and evolving your strategies to stay ahead in a dynamic market environment.
By following these best practices, you can empower your channel partners to drive incredible lead demand and achieve exceptional revenue growth.
Impartner's partner marketing automation solutions help companies accelerate revenue and profitability through their indirect sales channels at every partner lifecycle touchpoint. From partner training to tiering, deal registration, and performance compliance, Impartner handles it all and more with best practices and automation built-in.
Need to accelerate your partnerships revenue? We’re ready when you are.