Your channel partners need help, but what exactly do they need?  Channel managers that are actively involved in their partner communities tend to be more successful. Providing your partners with the resources they need to properly sell your product is imperative in creating a profitable channel community. Here’s what they’ll need.

Market Development Funds

Many channel partners lack the budget to run full-scale marketing campaigns surrounding your products. Making market development funds easily available to your partners is one of the best ways to maximize your relationships. Many companies that do offer MDFs have over complicated the application process to the point where partners don’t even try to obtain them. Make your application easy, but include specific details on what the money can be used for. Using a channel management platform can help you track their activities and can help ensure your funds are being used wisely.

Co-Branded Content Assets

Your smaller partners likely lack the resources or knowledge to develop content assets such as eBooks, white papers and blogs that will help attract and convert website visitors. These pieces also serve as fulfilment emails for teleprospecting campaigns. According to DemandGen Report, “More than half (51%) of B2B buyers rely on content now to research their buying decisions, and they want shorter, interactive content that educates rather than sells.”  Providing these assets also helps to put your company at the top of your partner’s priority list, as they will have the tools necessary to implement targeted campaigns without having to invest their own resources.  

Comprehensive Marketing Plan

It is difficult to carry out a successful marketing strategy without a plan. Providing a variety of campaigns as well as an overall plan that outlines the responsibilities and objectives of each involved party will help keep them organized and on track. It gives them a set of KPIs and measurables that can be used to determine their effectiveness as well as areas of opportunity.  Your plan should include buyer personas, target markets, social media and content strategy, as well as a plan for outbound objectives regarding email, direct mail and teleprospecting.

On-Going Sales And Marketing Training

The more well versed in your line of products that your partners are, the more successful they’ll be. There is no one that knows your product better than you, so supplying training materials and being actively involved in the process is a must. Not only will this teach them how to sell your products, it will encourage greater participation in your programs. It is important to note that this should not be a one-time thing. Continually training and retraining the sales and marketing departments of your partners should be an on-going process.

Outsource Partner Recommendations

Many companies have a list of approved vendors that their marketing team can choose to work with, and your partner community should have the same. Offer recommendations and even requirements for outsource partners that can be paid for with market development funds. This will give your partners a full-fledged marketing team to help drive leads to their organization.  Doing so will increase lead volume and quality due to the experience of the outsource partner.  This is one way to safeguard against the squandering of MDFs.

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