Why Certain Channel Programs Fail
At a time when the global marketplace is more competitive than ever, partners are seeking an interactive, high-end experience full-service channel program with a high level of engagement and support. With 40% of B2B orgs saying "goodbye" to their channel program & revamping it into something bigger and better, it’s clear that the rigid tiers and categories of the past will not work in today’s channel partner ecosystem.
Why Certain Channel Programs Fail
Many channel programs are overly ambitious in their desire to gain partners but lack the investment and insight over time that is needed for success. They are built on an idea around a good product but might fail to provide the necessary knowledge, resources and support to convert potential customers We see this happen all the time with technology solution providers suddenly opening the doors to reselling and referral partners, but they haven’t provided adequate training and support, so they go through a high rate of churn with partners who leave the program without seeing any return. To avoid partner loss, programs need to meet the evolving needs of their channels.
What Do Partners Today Seek?
Today, partners would like a program that allows them to direct the shape and dimensions of their participation. A successful partner network is based on how partners go to market. It is broader in that it goes beyond the traditional tiered program, but provides different programs designed to align with the partner’s business that fits the approach they prefer. The key is to design a program that offers flexibility to partners as their business evolves. The entry point should be relatively easy, allowing companies to dip their toes into a partnership. From there, they can continue to invest further based on mutual goals.
How to Meet Your Partner's Expectations
To provide a “white glove treatment” to strategic partners, begin by having clear goals and objectives that can be easily communicated to prospective and tracked. Successful approaches aims to make every point of engagement, whether it’s sales, marketing, education or product, easy to understand and rewarding for both parties. Offering a wide range of products can be considered complex to many partners, but aiming to make it simple and consumable can rapidly increase partner engagement and speed time to revenue. For example, many channel program build out a partner support team to help manage the program, and see partners as an extension of their organization. As a result, successful channel programs become dedicated to providing the tools and resources partners need to be successful.
Partner programs are not static. They are meant to evolve with the times. To encourage a successful relationship, partner programs must continue to expand as the channel grows.
