3 Challenges that Stunt Channel Partner Growth and Development

    3 Challenges that Stunt Channel Partner Growth and DevelopmentChannel partner development is a key growth area that most companies tend to overlook. Enabling channel partners to perform at their best requires effort, coordination, leadership, and management. When partners produce quality leads and generate increasing levels of sales, you know that you have a created a sales flywheel.

     

    With partner programs being created globally, flexible working conditions have become the norm. Within these new working conditions, there are some challenges that channel partners could face, which can disable them from growing to their full potential.

     

    Here are 3 common challenges partners face that stunts partner growth and development.

     

    A non-existent goal and strategy for your partner program 

    Set a Goal and Develop a Strategy for you Partner Program

    Ask yourself, what’s the goal of the partner program? What needs to be done to reach that goal? If these questions are not thoroughly thought about and if the answers are not clearly outlined, then we have a problem.

    A goal and strategy that is not clearly defined can lead to miscommunication and missteps within your partner program. Channel partners will have minimal guidance that can lead to a ‘DIY’ method when it comes to capturing leads.

     

    Developing a process for partners to follow will help partners navigate through the channel partner realm and successfully make their way through the sales funnel with converted leads in tow.

     

    Setting individual goals for your partners will also ensure that partners know what is expected of them. An open dialogue will also keep partners on track and motivated to achieve their individual goals and the goals set for the company.  


    To learn about how you can benefit from motivating channel partners, check out the blog, How to Motivate Channel Sales Partners.

     

    Drought in partner communication

    Communication with Channel Partners

    Communication is tricky in every relationship, but it can be even trickier when partners are located in different offices across the globe, in different time zones and on busy schedules. Waiting for email responses and opportunities to collaborate can really hinder the sales process and throw a wrench in the sales funnel for partners who are trying to close deals.

     

    Can you imagine a channel partner putting a hold on their sales efforts because they don’t have enough market development funds (MDF) to sell your products? This is not the ideal situation in any partner program. But, luckily, there’s a solution that can fill all gaps in communication.

     

    A self-service partner portal, enables partners to have 24/7 access to every piece of collateral needed to close leads, register opportunities, request MDF, share ideas, collaborate, and more. With a partner portal, your partners will have the tools and knowledge to sell from virtually anywhere.

     

    Curious to know if your partner program needs a partner portal? Here are 3 proven signs your channel program needs a PRM community.

     

    Partners don’t support the company, or the company isn’t giving partners the right support

    Support Channel Partners

    If you already have a consistent strategy and are regularly communicating with your partners, but things are still not working out, it might be time to ask, are your partners giving the necessary attention and effort to market and sell the company’s products? Are they finding the right audience to prospect to?

     

    Sometimes the challenge that can stunt partner growth and development is the lack of belief the partner has in the company or products being sold. Or, in some cases, it could be that partners feel like they are not getting the support they need to be successful. It is also possible that with the company's growth, partners may have grown differences with the company.

     

    Whatever the reason may be, it is absolutely vital that the company and all members of the company are a united front. A strong and healthy partnership relies on many factors, which can be effectively managed and monitored through a partner portal. It’s just a matter of identifying what areas of your partner program needs optimization in order to maintain healthy relationships with channel partners.

     

    To learn more about how a partner portal can strengthen your relationship with channel partners, check out the blog, Strengthen your Partner Relationship Management with a Partner Portal Solution.

     

     

    What’s Next?

    Ensuring the a there’s a clear partner strategy with an open line of communication and the right amount of support and motivation can help establish a successful partner program. Including partner relationship management as a priority in your partner strategy and pairing it with a strong partner portal will not only streamline many processes, but it can also drive revenue… and who doesn’t want to drive more revenue?

     

    How does Magentrix Partner Relationship Management work?

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