channel readiness & the olympics: how to go for channel gold

Channel Readiness & The Olympics: How to Go for Channel GoldBy Raegan WilsonFounder, Channel Squared Consulting

https://www.linkedin.com/in/raegan-wilson-mba-362497

@channelsquared

Channel Readiness & The Olympics: How to Go for Channel Gold

The US just wrapped its most successful Olympics in history with 121 medals and numerous records, providing many lessons we can learn from Team USA. Olympians, however, are not made overnight, and neither are successful channel programs. What does it require to go for channel gold? Preparation, the right team, dedication, training and analysis.


Preparation: What’s In it for the Partner

Vendor channel strategies are naturally centered around company growth and revenue, but ultimately, channel success must include compelling benefits for partners.

Strong partner value proposition, unique partner benefits and realistic partner expectations are key preparation considerations for a successful channel. Centering programs around the partner, their success and goals will get you one step closer to channel gold.


Team: Know Your Partners

Strategic recruitment of the right channel partners is a crucial part of strong channel programs.

Begin by identifying ideal partner attributes:

• If working with partners today, look at the most successful partners for similarities.

• If starting from scratch, consider tech expertise, verticals, install base, complimentary offerings, or regional coverage.

Knowing who the right partners are will optimize your partner resources, decrease frustrations and build the right team of partners.


Dedication: Internal Strategy

Successful channels don’t run themselves. They require resources, dedication and support from all areas of the business. Internal support/commitment are foundation pieces for healthy indirect channel businesses. Who will own each aspect of your channel execution? Identifying your internal channel team members early will spread out the workload, increase efficiency, leverage strengths and drive channel culture through your business.


Training: Partner Game Plan

A winning channel game plan begins with a partner onboarding strategy. Successful onboarding strategies include contracting, partner training, content marketing, demand gen, customer marketing and partner development. These strategies require detailed plans/ongoing management, but your internal team’s different backgrounds will help with execution. Tracking partner progress through onboarding can be achieved using a 30/60/90 plan. Taking the time to set up these plans and strategies will set the stage for long term channel success.


Analysis: Measurement & Results

Tracking channel results is essential for channel management. Recruitment, training, opportunities/leads, close rates, onboarding progress and content usage should be considered when measuring results. Today’s tech allows for real-time reporting across all aspects of the channel business. If you’re not tracking critical metrics, look for tools to help you do so. Having defined and measurable objectives will provide the insight needed to assess your channel, eliminate barriers and duplicate success.


Repeat

With great partner benefits, an #AllStar team, detailed partner onboarding processes and measurable goals, you’ll be on your way to channel gold. But you’re not done yet. The process must be continuously reviewed and repeated. Just like our Olympic counterparts, we must continually sharpen our skills, review past performance and look for areas of improvement.

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channel readiness & the olympics: how to go for channel gold

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