Picture this: a world where businesses don't just grow alone, but grow faster together. Where opportunities abound and partnerships are the backbone of success. In the ever-evolving landscape of indirect sales, channel partner programs can propel companies towards unparalleled growth, limitless reach, and maximized market potential. The key? Crafting and programs that are a win-win for both your organization and your invaluable channel partners.
To help you unlock the full potential of your channel partner program, we've gathered the top actionable ideas and best practices from our recent MasterClass discussion with Impartner's Senior Director of Partner Strategy and Growth, Mike Kirby, and G-P's Senior Manager of Partner Marketing, Penny Conway.
It's time scale your channel partner programs effectively, foster lasting relationships with your partners, and drive incredible business outcomes. Let's jump in!
What is a channel partner program?
A channel partner program is a framework that organizations use to collaborate with their third-party partners, such as resellers and referral partners. These partners can play a pivotal role in driving revenue growth and providing better experiences for your customers.
A channel partner program is a mutually beneficial relationship where your company entrusts its partners with selling and servicing products or services to their respective networks. In return, partners gain access to your manufacturer's offerings, marketing resources, and support to enhance their own businesses.
There are a wide variety of channel partners, each with their own unique strengths and abilities, including distributors, consultants, and value-added resellers (VARs). These partners help to extend your business, bridging the gap between you and your customers.
🔎 Dive deeper: Explore the many different types of channel partners in our full guide!
How to build and grow your channel partner program
Now that we've talked about the importance of channel partner programs, let's dive into the practical steps you can take to get started. Keep reading to find a roadmap to success, with actionable tips and expert advice on how to start and expand your channel partner program. It's a journey that can boost your company's presence in the market and build strong, long-lasting partnerships with your valuable strategic alliances.
You can also watch the full webinar with G-P for our in-depth discussion!
1. Start with the end in mind
As Conway notes, one of the most fundamental principles for success in channel partner programs is to begin with the end goal in sight. Rather than focusing solely on short-term objectives, think about where you want to take your partners and what success means in the long run.
By setting clear long-term objectives, you can ensure that your partner program aligns with your organization's overall goals. This approach not only helps you create a strong baseline for success but also paves the way for gaining executive buy-in and investment.
2. Set realistic expectations
It's crucial to establish realistic expectations when launching new tools, programs, or initiatives within your larger partner program. Avoid the common pitfall of assuming that partners will automatically engage with your offerings once they're available. Success in the partner ecosystem requires ongoing communication, proactive efforts, and one-on-one support.
Understanding what success truly looks like when introducing a new tool or initiative is paramount. Success should be based on metrics that reflect partner engagement and align with your partners' capabilities and interests.
3. Define key performance indicators (KPIs)
To measure the success of your channel partner program effectively, it's essential to establish KPIs from the start. KPIs provide a clear framework for tracking and evaluating the performance of your program. Go beyond generic KPIs like partner logins and delve deeper into partner engagement, with KPIs like:
- Percentage of partners aware of new partner tools or initiatives
- Number of partners logging in within 90 days
- Type and frequency of ongoing engagement with partners
- Growth in partner accounts and contacts within accounts
By setting up precise KPIs, you can track progress, identify areas for improvement, and adjust your strategies accordingly.
🔎 Discover more: Not sure where to get started? Find our full list of 20+ channel partner metrics and analytics to track in your program.
4. Tailor journeys for your partner segments
Not all partners are the same, and recognizing this diversity is crucial for effective partner program management. Tailoring partner journeys based on partner type, tier, and roles can significantly enhance your partner engagement. Penny Conway suggests a progressive approach, initially deploying journeys based on partner engagement levels.
For instance, partners who actively log in and participate in activities may be placed on a journey to receive more advanced content and resources. Conversely, partners who need more encouragement can be guided through a different journey to help them gradually build engagement.
5. Reward desired behaviors
One of the most effective ways to drive partner engagement is by rewarding desired behavior. Swag and channel partner incentives can go a long way in motivating partners to participate actively in your program. The rewards can be as simple as branded merchandise, gift cards, or exclusive access to webinars and events.
Leveraging creative rewards not only encourages partner engagement but also strengthens your relationship with partners and keeps your brand top of mind.
✅ Level up: Bring a level of gamification to your partner portal to drive behavior. Learn more in our guide: How to Create a Fun Gamified Partner Experience for Serious ROI.
6. Foster actual human connections
While technology plays a significant role in channel partner programs, it should never replace human interaction entirely. Partners appreciate knowing that there are real people behind the program who are there to support them. Penny highlights the importance of having a human touch and building personal connections with partners.
Whether it's through personalized emails, webinars, or one-on-one assistance, fostering human connections can create a sense of trust and loyalty among partners. Remember, partners are more likely to engage when they have a human point of contact that they can relate to.
7. Build a collaborative team internally
Successful channel partner programs require collaboration across various internal teams. These teams include web development, project management, revenue teams, and partner marketing, among others. Collaboration ensures that your partner program receives support from all corners of your organization.
When teams work together with a shared goal in mind, they become advocates for the program. This collective effort not only facilitates executive support but also ensures the success of your program, making it an integral part of your organization's indirect sales strategy.
8. Adaptability is key
In a global partner marketing landscape, adaptability is a critical skill. Different regions and partner types may have unique requirements and expectations. As a partner manager, you must be open to feedback and willing to adjust your strategies based on regional or partner-specific needs.
Thinking big while staying adaptable allows you to tailor your programs effectively to meet diverse partner demands, ensuring that your program resonates with your partners' needs.
9. Develop a partner experience map
A partner experience map provides a visual representation of the partner journey within your program. It outlines the steps partners take, the interactions they have, and the touchpoints they encounter. Developing a partner experience map helps you understand your partners' perspective and identify areas for improvement.
This map should be a collaborative effort involving various teams to ensure a comprehensive understanding of the partner journey.
10. Embrace technology for seamless global collaboration
In our rapidly evolving digital landscape, harnessing the power of technology is critical. Using advanced partner management platforms, marketing automation, collaboration tools, cloud-based platforms, and data analytics can enable your channel partner program to thrive globally.
With these digital resources, you can bridge geographical divides, streamline communication, and gather valuable insights for tailoring your program to meet the diverse needs of partners worldwide. By embracing technology, you empower your program to adapt, grow, and succeed on a global scale.
It's time to grow faster, together
Channel partner programs have the potential to be powerful engines of growth for your organization. By implementing these best practices, you can create a partner program that not only drives revenue but also fosters long-lasting relationships with your partners.
Remember that every partner is unique, and success comes from understanding their specific needs and expectations. Tailoring your program to accommodate these differences while maintaining a human touch and fostering collaboration can help you unlock the full potential of your channel partner ecosystem.
Are you ready to build a channel partner program to accelerate revenue and drive long-term growth for your business? Impartner can help.
Each day millions of partners in nearly every industry across the globe access Impartner. Why? Because the partner experience matters and leading channel organizations agree.
Impartner is the fastest-growing, most award-winning channel management software on the market. Our partner relationship management (PRM) and through channel marketing automation (TCMA) solutions help companies accelerate revenue and profitability through their indirect sales channels at every partner lifecycle touchpoint.
From partner training and onboarding to pipeline management, resource sharing, and performance tracking, Impartner handles it all and more with best practices and automation built-in. Let's build something incredible together.