So much of the success of an indirect-sale ecosystem rests on the shoulders of their Channel Account Manager (CAM). In most cases, the CAM is the central point of contact between the vendor and all the partners, as well as being directly responsible for both recruitment of new partners and oversight of existing partners. It’s a job role that’s half sales, half management, and always hectic!
In our work, consulting with businesses and their channel managers, it hasn’t been hard to spot the CAMs who are high-performing. These are some of the traits we see, over and over, in ecosystems that have a great CAM at the center of it all.
1. Learn from their partners
One of the most important aspects of being a channel manager is understanding the partners and being there when the partners are in need. A good CAM should make time to talk to their partners, understand their partners’ business, and be there to listen when a partner has suggestions or complaints about how the ecosystem works.
This is a management-style role, but it’s absolutely critical. A CAM who is always willing to work with partners will earn the partners’ trust, as well as helping ensure that partner has a positive attitude towards the vendor.
2. Encourage the distribution of knowledge
There are many areas of business where a person can be “greedy” about information, hording it without sharing it, and be a success. This is not true for channel account managers. A great CAM is consistently sharing information with the partners, as well as being one of the main routes through which partners can share information with the vendor.
A successful CAM will be greatly aided by a system which is capable of centralizing information storage and retrieval, so that everyone in the ecosystem has access to knowledge which will help them succeed.
3. Pay close attention to data analytics
A modern indirect sale ecosystem cannot succeed without data, and the ability to analyze it. A great CAM is always tracking the numbers and overseeing the performance of the partners. They should have a solid list of Key Performance Indicators (KPIs) they’re constantly tracking, and be ready to talk to partners if they start under-performing. Ideally, they’re so “tuned in” to the data that they can start taking corrective action before problems start appearing on the budget sheet.
They’ll also use data analytics to identify the best-performing partners, discover what makes them excel, and encourage other partners to adopt similar tactics.
4. Always assist with marketing initiatives
Marketing should not be solely left up to individual partners. On the contrary, the most successful ecosystems are almost always those where the vendor takes a leading role, and produces a large bulk of the marketing materials and initiatives themselves. The vendor is the one who can define a product’s brand and market targeting. The partners should simply be looking to apply these ideas to their own local audience.
This is another area where information-sharing is critical. The easier it is for partners to obtain up-to-date marketing materials and data, the better.
LogicBay Can Help Any CA
Our combination of an all M Excel-in-one Partner Relationship Management platform and associated enabling technologies creates a situation where channel managers can easily succeed. We can centralize your data and marketing, improve communication throughout your ecosystem, and make it easier than ever for you and your partners to collaborate.