Are you satisfied with the results of your channel partners? It is easy to focus on this question and stop there when evaluating the success of your partners. However, this relationship goes both ways. It may also be good to ask: Are your channel partners satisfied with you? How can you “delight” your channel partners? By setting your partners up to succeed, you are setting yourself to succeed with them. Given this logic, providing your channel partners with the best resources and “delighting” them should be a top priority. Here’s how you can start.
Pick The Right Partners
To begin with, you’ll have a much easier time keeping your channel partners happy if they’re having an easy time meeting your demands. No company wants to fall short of their partner’s expectations. However, no company wants to feel like they’re being set up to fail either. You should always do a thorough job in your partner application process of vetting potential channel partners to ensure a mutually beneficial relationship. Just because they have a certain track record or access to your target market doesn’t mean you’ve found the right partner. Instead of focusing on single characteristics, look for a prospect that is an all-around fit in terms of their experience, cost, strategic benefits, and other key areas.
Introduce Partner Relationship Management Software
One of the best ways you can ensure that working with a channel partner is a fruitful endeavor is by introducing partner relationship management software (also referred to as “PRM software). This type of software is designed to help your business improve results within your indirect sales channel. .
You’ll find that PRM software can help make a big difference in your channel partner relationships by keeping everyone on the same page. This software can update important data in real time on a platform shared by all relevant parties. Providing PRM software as a resource to your partners is a great way to delight them by setting them up with everything they need to succeed all through the convenience of Single Sign-On (SSO). .
Keep Them In The Loop
While the right relationship management software can go a long way toward keeping your network happy, don’t forget that even the best platforms still require some effort on your part. Have a plan for letting your partners know what to expect from the system and how to best take advantage of the resources you provide. You’ll never see the results you want if your company isn’t keeping communication alive. When you fail to do this, it’s only a matter of time before the frustration of your channel partners boils over. They’ll either feel like they’re missing opportunities to profit or being held accountable for expectations they couldn’t possibly meet because they didn’t know how.
Train Them Regularly
As time goes on, all companies evolve, which is why ongoing training f is always a priority. This principle extends to your channel partners too. Whether it’s training them on new products, business processes, or best practices you’ve recently come up with for internal procedures, this is vital. You need to keep your channel partners properly informed so that they are equipped to represent your brand successfully.
Help your partners understand the value of your training programs by helping them see how they stand to benefit as a result. Lastly, make sure to keep track of which partners are actively completing your training and hold others accountable when they chose not to participate.
Yet another way you should treat channel partners similar to your own employees is by offering them incentives for greater performance. The same way your team acts to bonuses and commissions is likely how your channel partners will respond to similar incentives. Aside from rewarding simply based on sales results, you can also give out incentives to your partners that are actively promoting your brand or performing other important functions.
Don’t take your channel partners for granted. Each one represents the potential for greater success. Instead, regularly invest in delighting them and setting them up for success. To find out more about how to do this, set up a demo with LogicBay.