Nowadays, there are various channel engagement partner plans available but many people are finding them a bit disappointing. For starters, there are way too many engagement plans that do not deliver and are just too much effort with not enough to show for the results.
However, when there is a channel partner engagement plan which works well, businesses flock to it in droves. If you want to make sure that your channel partner engagement plan is attractive and yields results, pay attention to the following key points:
Understanding Your Partners
This is the key component which you should pay attention to. If you design a partner engagement plan, you have to focus on your partners first. Work out how your products will complement your partner’s products. Your product will have as much of the limelight as theirs and has to fit in well with them. Focusing on this aspect will help to create a mutually beneficial plan that will produce better results.
Transparency in Expectations
Do not shy away from defining your expectations regarding what you hope to gain out of the channel partner engagement plan. This is one of the areas which often cause the plan to fail since businesses do not define this properly.
As the vendor, you should outline the dates for meetings; updates that must be submitted on a weekly, monthly or even daily basis and other details need to be worked out beforehand. These will help to ensure that the overall target is being achieved and also identify problem areas.
Clear Channel Incentives
Channel incentives need to be highlighted clearly. These are going to be the main reason why someone will opt to work with your business. Whether you are making them activity based or are relying on a different methodology, be clear about them.
Moreover, have a system in place which makes it easier to provide the incentive. You don’t want to be known as the business that makes a promise and fails to uphold their part of the bargain. It can seriously damage your credibility and other businesses will be reluctant to partner with you on this basis.
Providing Relevant Training
A channel partner engagement plan is meant to be mutually beneficial for all parties involved. One way that you can make it appealing for other businesses to partner with you is by offering relevant training with the help of the best PRM software that might help maximize their sales. If you’re only considering this for a short-term basis, provide beginner or mid-level training and progress to advanced training later on. In this form, you increase the value of your channel partner engagement plan and also get more partners who are interested in partnering with you.
Good Communication
When you’re working with another partner, be sure to have the relevant parties meet frequently. Keeping open channels of communication will help to enhance sales on both sides and also make the partner plan more mutually beneficial. Poor communication is one way that your partner can feel frustrated with working with you since when they require more information, there is no one available.