ELEVATING CHANNEL PARTNER MANAGEMENT IN
MODERN TECH COMPANIES
Microsoft, Google, Apple, Atlassian all have one thing in common - they achieved rocketship scale through their integration, service and developer partner ecosystems.
Despite the huge impact Partnerships teams have in tech companies it is still rare to see a Partnerships or BD leader on the executive leadership team.
We are a Private Network for the Leaders Changing Partnerships in Tech
To be accepted, applicants must be an active partnerships executive or expert practitioner at a technology company.
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Partnerships Leaders is the invite-only industry association for Partnership, Channel, and Alliances leaders at technology companies to share best practices, receive guidance from peers, and build relationships in this fast-growing space.
Channel Partner Management
Channel partnership is an uncharted territory filled with unlocked possibilities. New ideas, customer bases, and product launches are made a reality in ways that otherwise would be impossible. But there is no such thing as impossible for channel partnership with the right development in place. The best channel partner programs have strong leaders at the helm who are flexible, dependable, and bold in exploration. They are committed to creating a winning culture that cross-pollinates and changes things and that makes a big difference everywhere in your business ecosystem and the world.
A strong channel partner management program is ever-present and aware of this fact. It strives for all parties to stretch their horizons and perform the best they can be. Members are challenged to think beyond themselves into benefits for the greater good, and the profit of all. Channel management also entails realistic goals and company budgets, so you don’t have to do the gruntwork. Feel free to be as hands-on or off in the process as you would like. You have a business to run - we understand.
Channel partner management is all about finding the right people for your unique business situation, and that can be tricky to do. That is why we are here to help. We understand that utilizing cookie-cutter solutions simply do not work in building partner and customer relationships. Each brand must seek out a custom solution for every partnership, every time. Our team at Partnership Leaders provides a road map to help get you there. From loyalty programs to rebates, strategic collaboration, and everything in between, our expert staff will gladly assist with any needs you may have. Together, we can reach milestones beyond expectations and raise the bar on what’s possible.
Navigating your partnerships through a strategic channel can be challenging, let alone deciding whether or not your company could benefit from one in the first place. That is where we come in. The first step in successful channel management is to incorporate an effective channel management strategy, execute it, and then stay consistent. Our expertise at Partnership Leaders will help you determine everything your business can reap from the benefits of a rewarding channel partner program, and whether or not it will be relevant for you.
The next step is to integrate intuitive channel management software that is understandable in relatable terms for you and your allied partners. Some great channel management examples of this include the guidance of successful partnerships within the Partnership Leaders integrated platform. Leaders from renowned companies like Shopify, Mailchimp, and Google Cloud come together to collaborate and germinate new ideas, and we think that’s a beautiful thing. It is where great minds come together to make big things happen. Successful channel management requires discipline and teamwork that facilitate generating sales and commissions for all parties involved, allowing a greater return on investment than hiring a traditional sales team. This is the crown achievement of channel management that wins.
Channel Management Process
So what exactly does the channel partnership process look like? The answer isn’t in one sentence, but rather an intricate structure with many moving parts and pieces. Think of the channel management process as a full-scale cruise ship, or a manufacturing facility with many moving cogs, conveyor belts, and wheels inside. Making sure that the parts run smoothly is essentially channel management in a partner program - pay attention to the little things, and the bigger things will do their jobs more effectively.
How does the channel partner commission structure work for channel partner companies? It starts with reliable channel partner management software. That’s where you can keep track of your campaigns all in one place so commissions can be fairly allocated and strategies can be analyzed as a team when you jump on a video call. Which commissions worked well, and which ones desire improvement? What elements would change to gain even more profits and reach? How can audiences reach your products and services better? What specific skills can be brought to the table? The data to answer these questions is easily at hand with a state of the art software system that everyone can be on the same page.
Channel Partner Program
Even the most successful channel partner programs will crumble without keystone relationships in place. Though technology is great, authenticity and organic business relationships are simply not cookie-cutters, they must be worked the old fashioned way… the individualized building of rapport. Whether it’s in-person get-togethers or virtual chat calls, strong business networks are forged with a human element. Your partners must have a stake in the game to help you and your company staff succeed. They will need to be relevant to your campaign, mission statement, and product niche, and get on board with the idea.
The channel partner marketing strategy succeeds with powerful relationship alliances. If you win, they win. And if you lose, they lose. But through it all, your partners will become an invaluable asset to your business when the longer mile is run. They will cheer you on, and you will too because both of you will realize the power of what companies can do when they work together with a common purpose. Greater profits are realized when a team is involved rather than simply flying solo. The channel partner program that wins for your business will help you accomplish this, and then some.
Channel Partner Strategy
What are some key channel sales management strategies you can implement? Whether you’re already a channel partner or are thinking about the endeavor for the first time, these business partner tips will guide you on your partnership journey:
1. Onboard with key partners from the beginning.
It is quality over quantity when it comes to a winning partner relationship management strategy. Spend some time networking with relevant company leaders who would be a good candidate in launching a campaign with you to cultivate a solid partnership.
2. Formulate a channel partner business plan.
Once you have your key partners in place, it is time to formulate a plan. Consider a test launch for your marketing campaign together, especially the first time. Be sure that all parties follow through with the plan, too. Then see what the results will tell you.
3. Subscribe to great channel partner software.
Few things are more frustrating than wasting your time on software that does not work. That’s especially true for channel partner software because it becomes frustrating for everyone to connect! Make sure to subscribe to user-friendly software in the first place.
4. Share your progress and results with your partners.
Do not be afraid to share your company’s results on a collaborative campaign with your partners. Transparency is key between you and your partner team. Otherwise, what is the point of partnership?
Channel Partners Examples
One can see why implementing channel partner management best practices is critical to the longevity of your partnership programs. In times past these special types of business ventures have taken great care and finesse to cultivate. But thanks to the power of virtual technologies like those Partnership Leaders provides, partnership management is easier to keep track of now more than ever. Some great examples of channel partners today include alliances between social media outlets and manufacturers to promote products and send referrals to customers. Other great examples inflict but are not limited to online vendors and companies. This type of partnership is excellent because vendors have the opportunity to offer more optimized services to their partners, which opens a better opportunity that would otherwise not have been available.
Partner Relationship Management
We’ve said it before, and we will say it again… Onboarding strategies are the key to successful partner relationship management. It takes strong leadership skills to perform this critical task for your business, and it’s the same way with selecting your partners. Think of it as hiring a new sales staff - that’s essentially what you are doing with selecting quality partnership peers that think the same way you do, yet challenge you to launch forward with new ideas. They will mold and shape you as you market and grow together, and the same will happen to you and your company. You know change is inevitable, so why not adapt and grow with them?
Onboarding the right individuals can literally make or break your partnership venture. But having the right connections and sales alone is not everything when it comes to channel partner management success. Get a business plan template drafted so you know where your team needs to go next. After all, what’s a captain without a navigator on board to read the map? The best partnership management plan can help navigate your group through the fog, storms, and murky waters that often spring up with little warning in the online business world.
Zinfi and Impartner are some ideal examples of prm software that help maintain partnerships with ease and strengthen relationships. All the information in plain view can help you determine the right game plan for you and your partners like the dashboard at Command Central in a starship. Now you can take the helm full-on with confidence and work together with your partners to move forward and beyond. Take to the stars, fellow captain! Your partnership team has uncharted territory to explore.