Every business dreams of scaling its operations, but the challenge intensifies when it comes to channel and partnership programs. How do you ensure your partnerships remain strong, effective, and aligned with your business goals as you grow?
The pain points are real: misaligned objectives, unclear roles, and the ever-present challenge of managing and motivating partners.
Jen Kalant, Senior Director of Strategic Partnerships at Searchspring, joins Graeme Byrd, Strategic Partnership Manager at Whip Around, to discuss the intricacies of building a sustainable channel program and guiding businesses on a journey to scalability.
The Importance of Scalability in Partnership Programs
So, why do you need scalability? The answer lies in your partnership needs. As you evolve, so do your partner’s demands and requirements. That’s why you must grow and adapt.
Aligning Business Needs and Goals
Every successful partnership begins with clearly understanding the business’s and the partner’s objectives.
Kalant emphasized the significance of this alignment, stating, “Assess your business needs and goals, so you really truly understand your business and the business that you’re supporting.”
Without this foundational alignment, even the most promising partnerships can veer off course. It’s about ensuring every partnership move syncs with the broader business strategy.
Organization Structure and Partner Profiles
Aside from alignment, the structure is the scaffolding that holds your partnership programs together.
Byrd highlighted the importance of defining the program’s structure and understanding the ideal partner profile.
He said, “Defining the channel partner program, understanding who your ideal partner profile is, what’s going to make the most impact for the business…” It’s not just about bringing partners on board – it’s about ensuring they’re the right fit, aligned with your vision, and equipped to drive mutual growth.
Active Management and Motivation
Navigating the partnership journey requires more than onboarding the right partners; it demands continuous engagement, support, and motivation. Active management ensures that partnerships remain fruitful, addressing challenges head-on and fostering a collaborative environment.
Providing Support and Resources
A partnership is a two-way street. While partners bring value to your business, they also need tools, resources, and support to succeed.
Kalant touched on this, emphasizing the need to “Provide that enablement and support.”
This isn’t just about offering resources – it’s about ensuring partners have the knowledge and skills to utilize them effectively.
Active support can make the difference between a partner who’s merely present and one who’s actively thriving. You can do this through:
- Training sessions
- Marketing collateral
- Regular check-ins
Addressing and Mitigating Conflicts
In any partnership, conflicts are inevitable. However, how you address and mitigate these conflicts can define the partnership’s success.
Kalant highlighted the importance of clear rules of engagement, noting the need to “mitigate any channel conflict,” through:
- Setting clear expectations
- Defining boundaries
- Having open channels of communication
This way, potential conflicts are addressed proactively, ensuring they don’t escalate or harm the partnership.
Expanding Market Reach
But merely having partnership programs isn’t enough.
The real value lies in leveraging these partnerships to:
- Tap into new markets
- Expand your total addressable market (TAM)
- Drive incremental revenue
Partnerships, when executed effectively, can be a game-changer. They allow businesses to reach audiences and markets that might have been inaccessible otherwise. By collaborating with the right partners, businesses can amplify their reach, diversify their offerings, and enhance their market presence.
Kalant explained how partnerships could be pivotal in “expanding the total addressable market (TAM) and driving revenue for the business.”
It’s not just about adding partners to your roster but strategically aligning with those who can open new doors and opportunities for your business.
Embrace Modern Technology, AI, and Automation
Technology is now at the heart of most successful business strategies, including partnerships. Embracing modern technology, especially AI and automation, can supercharge your partner program, making it more efficient, data-driven, and scalable.
The power of AI and automation goes beyond just streamlining operations. Kalant touched upon the transformative potential of these technologies, especially in the context of content marketing.
“Individual content marketers can be apprehensive about the idea of AI-driven content generation. However, increasing the usage of AI would change marketers’ jobs for the better,” said Kalant.
By automating routine tasks, professionals can focus on higher-value activities, such as strategy and planning.
Moreover, automation tools enhance partner experiences, offering personalized recommendations, insights, and support.
As partnerships grow in number and complexity, leveraging AI can help segment partners, predict their needs, and offer tailored solutions. It’s about harnessing technology to manage partnerships more effectively and unlock new opportunities and insights.
Creating a Partner Relationship Management System
As partnerships grow and evolve, managing them can become a complex endeavor. This is where a Partner Relationship Management (PRM) system comes into play. A PRM system serves as the central hub for all partnership activities, ensuring that every interaction, deal, and strategy is tracked, managed, and optimized.
A well-integrated PRM system offers several benefits:
- Centralized Data: All partnership data, from lead generation to deal closure, is stored in one place. This ensures that teams have access to real-time data, enabling informed decision-making.
- Streamlined Communication: With multiple partners, communication can become fragmented. A PRM system ensures that all communications are centralized, ensuring clarity and consistency.
- Conflict Management: Kalant emphasized the importance of mitigating channel conflicts. A PRM system can help identify potential conflicts early on, allowing for proactive resolution.
- Performance Tracking: By tracking key performance indicators (KPIs), businesses can identify high-performing partners, areas of improvement, and growth opportunities.
Kalant noted the importance of having a system that’s “integrated into the CRM system to manage any channel conflict.” In essence, a PRM system isn’t just a tool – it’s a strategic asset that drives partnership success.
Conclusion
Scaling a partner program can be an intimidating task. With the help of PRM technology, partners can stay organized and on top of their performance, while businesses can ensure consistency with their brand voice and resolve potential conflicts quickly. Collaboration between teams is also made easier through centralized communication – ultimately leading to more successful partnerships.
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- Grow a network of peers, partners, and advisors with common objectives.
