A typical channel program sees 5 percent of partners actively engaging while the other 95 percent of partners have made one sale and disappeared. Whether you have a new channel or a longstanding one, I’m sure you’ve seen this commitment issue. So how can a vendor entice new partners that will be good for its business? Here are a few tips:

Heather K. Margolis

July 16, 2012

3 Min Read
The Golden Rules of Enticing Committed New Partners

goldenrule

A typical channel program sees 5 percent of partners actively engaging while the other 95 percent of partners have made one sale and disappeared. Whether you have a new channel or a longstanding one, I’m sure you’ve seen this commitment issue.

So how can a vendor entice new partners that will be good for its business? Here are a few tips:

Make It Easy To Work Together
When I was an alliance manager, I worked with a handful of vendors. The ones whose products we sold most had programs that were easy to navigate. This meant approachable partner guides and platforms, easy-to-navigate reporting processes and portals that didn’t require a PhD to navigate.

Lead Generation
If you ask solution providers what they want more of from their vendors, it’s support with lead generation. It’s key to hooking your partners and keeping their loyalty. This doesn’t mean just delivering your partners a list of leads or a generic e-mail campaign produced by corporate. Instead, lead-generation support is best done with partner-specific marketing support including guidance on optimizing their presence in the online communications sphere. It also means template campaigns for partners centered on the end customer. Plus, customizable materials are essential to partners feeling supported in their lead-generation efforts.

What’s In It for Me?
This one’s a given. If a partner sells your competitor’s product and makes more money, yours will only be sold when a customer demands it. Make sure you have great margins, rebates and incentives that you can easily communicate to potential new partners.

Once you’ve hooked new partners, two key tips I offer to let only the good ones into your channel program are:

  • Keep Your Expectations High: It’s hard to weed out inactive and sub-par partners once they’re in your channel program. When you’re reviewing applications from potential partners, be sure every partner you take on fits your business model. Include a question about annual revenue so you can evaluate financial compatibility. When you keep your bar high, the partners you bring on board are typically easier to work with collaboratively driving success.

  • Commitment is Key: I’ve said it to vendor after vendor we’ve worked with: The importance of testing your partners’ commitment to your products is key. I recommend offering a 30-minute required webinar that includes your value proposition with a follow-up quiz to make sure your future partners know your products. While a 30-minute webinar may seem like a high expectation, you want partners who will be willing to take part in a two-hour partner training down the road, right? With that in mind, a product webinar shouldn’t be too big an ask.

Vendors who have the happiest partners don’t focus on how many partners they have. They prioritize what they’re doing for their partners and they only take on partners they’re sure they can collaborate with. Have you found ways to entice and keep winning partners that I might be missing? I’d love to hear more ideas.

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About the Author(s)

Heather K. Margolis

Heather K. Margolis, a self proclaimed “recovering channel professional,” founded Channel Maven in early 2009. Heather is passionate about enabling vendors and their channel partners to drive more business through their channel programs. Having led channel programs for companies like EMC, EqualLogic and Dell, Heather helps channel organizations of all sizes build smarter channel programs, manage channel relationships to find added value, and engage their communities through social and traditional media. Heather regularly speaks to manufacturer and channel partner audiences about getting the most from social and traditional media. She also speaks to a variety of audiences about entrepreneurship, building a service business, and B2B strategy.

A proud alum of Babson’s MBA program, Heather grew up in Massachusetts and now calls beautiful Boulder, Colorado, home where she and her husband (and dog Zoe) can be found hiking, foodie-ing, or attempting to tear up the slopes.

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