But engaging with a partner in a joint business development initiative can be a minefield of shattered expectations for both vendor and partner. The inevitable loss of confidence in the partnership can mean reluctance to engage in future efforts.
One of the most important steps in motivating partners to invest in your brand is implementing an annual joint planning process and quarterly business review.
Below is a summary of requirements for a partner planning and performance management system designed for high partner participation and motivation. Getting partners to willingly participate Partner must see value to earnestly participate: Partners need to get immediate value from participating in a vendor-requested planning process to motivate them to provide thoughtful input into their individual plan.
Partner value can take many forms: Partners will value profitability modelling, opportunities to earn more money, and additional earned benefits i.
At every stage of the partner planning process, partners are looking for examples, sample forecasts, draft goals and strategies, and typical inputs to get them started defining a plan that they believe in. Partner customization at all levels: Partners want to model different outcomes instantly: Partners are looking to model the impact of different strategies on their business performance and profitability.
Provide ability for partners to create a first draft plan in 10 minutes: Integrate the ability to calculate different outcomes for different plan elements: Once the partner monthly goals for units and dollars are defined and agreed upon, preparing a channel chief dashboard is relatively straightforward, including: A dashboard that also fully integrates into CRM for system-of-record management Below is a specification of a partner-focused channel planning system designed to maximize partner participation, and also get channel chiefs the reports they are looking for.
It is organized by key planning system user to ensure active participation and useful plans that partners believe in.
Your partners want to participate, if the process considers what they value and helps them build more confidence in investing in your brand.Channel Strategy and Plan DOCUMENT ACCEPTANCE and RELEASE NOTICE This is [release/version]  of the Channel Strategy and Plan.
The Channel Strategy and Plan is a managed document.
For identification of amendments, each page contains a release number and a page number. Changes will be issued only as a complete replacement document.
Helen Curtis recommends to create, in collaboration with the partner, a clear written plan – a 1 page document with a set of objectives, specific view of the target market, strategies and tactics, who’s going to do what, the resources both parties have committed, and a realistic view of the ROI.
Gary Morris is a 25+ year business, marketing, & channel executive who has written and published over articles, white papers, and other thought pieces on a range of topics including channel best practices, marketing effectiveness, technology strategies for business, and business performance management.
Seven Methods to Get Partners to Want to Do Joint Business Planning Every vendor that sells though an indirect channel is looking to gain commitments from their partners to . Additionally, partners and resellers have multiple suppliers making it even more important that the supplier stands out and establishes an engagement plan to build partner loyalty.
When creating and executing a partner engagement plan, there are a few key tips to keep in mind for ensuring success.
Channel partners will soon become disgruntled if a vendor's direct sales force competes with them for customer business. Thus, a channel strategy may involve market segmentation. For example, a vendor could target only large enterprises with its direct sales force, while reserving small and midsize businesses for its channel partners.