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A healthy channel partner ecosystem is one of continued support, fair compensation and a great deal of collaboration. You also need to ensure you’re recruiting the right partners to begin with. Here we take a look at five tips for creating a healthy channel partner ecosystem.
Focus On Growth And Expansion
Partners want to be resellers for companies who will facilitate their growth through their programs. Additionally, having more partners that are an ideal fit will help you to generate more revenue. Let potential partners know about your own growth initiatives, different product offerings and what new opportunities may be on the horizon. Partners who feel like there is long-term potential with your organization are more likely to commit resources up front.
Be Picky About Potential New Partners
Not every partner will be a good fit and the more in-depth you go in creating your ideal partner persona, the better chance you have of drawing in profitable ones. You’ll need to narrow down your potential partners through a variety of criteria including geographic location, sales/marketing resources, company size, current audience and anything else that helps you to identify the right fit. A tool such as PartnerOptimizer can give you valuable insights into the health of your current channel and better understand the makings of your ideal partner.
Make Your Compensation Packages Appealing
When partners know they have an opportunity to make a true impact on their own bottom line, they are likely to invest far more resources into selling your product. There are a variety of different commission structures that can be used, but in the end, you need to make sure it is a mutually beneficial partnership. Including incentives for reaching certain targets can also invite healthy competition that will drive sales.
Promote The Use Of Market Development Funds
Market development funds are only effective if the process to obtain them is seamless and you provide direction on how to use them. In all too many cases, channel communities decline to apply for MDFs because of tedious applications and restrictions. Making the application process easy and providing marketing materials and campaign outlines, as well as potential outsource partners, will encourage partners to apply and dedicate resources toward selling your products.
Provide Ongoing Training And Sales/Marketing Materials
Content assets, campaign templates, call guides, product demonstrations and detailed training will arm your partners with the tools they need to be successful. Continually providing fresh content and training on new product lines is necessary for your partners to succeed in ever evolving technology markets. Blogs, eBooks, social media posts, email pieces, case studies, landing pages and call guides can all aid your partners in generating revenue. Continued support gives you a strong foothold within their organization, setting you up for a long-term relationship and success.
Winn leverages PartnerOptimizer to help you understand your ideal partner personas. We have helped some of the largest IT channels in the industry build profitable partner communities.
