What is the top challenge you are facing today? Changes in buyer behavior, increased competition going after fewer dollars, longer buying cycles – these changes are driving a huge amount of stress and strain on partner leaders. Today’s episode looks at these challenges and what you can do to address them.
Joining me is Mark Rogers, SVP of Global Partnerships at Impartner. Working for a partner technology firm, Mark gets to speak with a wide variety of partner leaders. Over the past year, he has noticed a big shift in their top challenges and concerns. There is increased scrutiny on every channel dollar spent. Partner leaders are having to justify the existence of their partners and their partner team.
Mark delves deep into the scrutiny on channel investments, the evolving partner landscape, and the critical importance of partner experience (PX). From fostering strong partnerships to embracing humility and gratitude, this episode is packed with valuable advice for anyone navigating the channel ecosystem.
KEY TAKEAWAYS
Here are my top 10 takeaways from my chat with Mark. By focusing on these areas, channel chiefs can better face the increased scrutiny and set their partner programs up for success.
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Channel Scrutiny: In the current environment, there is increased scrutiny on every channel dollar spent. Proving the channel’s value is more critical than ever.
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Changing Roles: Channel chiefs are facing shorter tenures due to rising expectations. Entire channel organizations are being reevaluated and, in some cases, overhauled.
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Visibility and Metrics: Leveraging analytics and AI to track and validate partner contributions is essential. You need to demonstrate a clear ROI to justify channel investments.
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Best Practices: Implementing best practices in the channel, including proper incentive structures, can significantly improve partner performance and outcomes.
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Importance of Partner Experience (PX): The partner experience should be a priority, ensuring it’s easy for partners to do business with you.
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Adaptability: As market conditions shift, like the rise of marketplaces, vendors and partners need to adapt. Reinventing your ideal partner profiles to match the changing landscape is crucial.
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Communication: Regular, open dialogue with partners, including feedback loops through partner advisory boards, helps align goals and improve partner satisfaction.
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Support Systems: Leveraging channel advisory services and channel tech partners for their expertise can provide critical insights and streamline processes.
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Empathy and Gratitude: Showing humility and gratitude towards your partners builds trust and long-term relationships. Acknowledging and rewarding their efforts can drive mutual success.
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Validation: Workshops and ROI validation sessions can be run with the help of channel tech vendors and their partners, enhancing the effectiveness of channel strategies across the board.
LINKS & RESOURCES
- Connect with Mark on LinkedIn
- Listen to Peter Thomas on 5 Steps to Maximizing Your Channel Marketing ROI
- Try Impartner Partner Management
