6 Action Items for Success Along the Partner Journey
In the world of technology partnerships, vendors must constantly evolve to meet the needs of their go-to-market partners. As highlighted in our report, “The Partner Journey Through Partner Eyes,” vendors need to take specific, actionable steps to strengthen their relationships with solution providers at various stages of the partner journey. Below are six action items, one for each stage of the partner journey, to help vendors ensure they remain competitive and attractive to their partners.
1. Awareness Stage: Be Where Your Partners Are
Action Item: To catch the eye of potential partners, it’s essential to be visible at the solution provider watering holes. The more you can be in front of potential solution provider partners – at events they attend, in blogs they read, on podcasts they listen to, and on social media sites they visit – the more likely they are to know something about your company. Familiarity and name recognition are crucial when partners are looking to add a new vendor.
Why It Matters: Solution providers go looking for new vendors to meet a customer need or opportunity. By being present in the right places, vendors increase their chances of being considered when a solution provider starts searching for a new technology.
2. Consideration Stage: Make Evaluation Easy
Action Item: Potential solution providers are checking you out, and you don’t even know it. Be easy to be evaluated! Put as much information as you can outside the partner portal so prospective partners can gather the information they need to shortlist you for the formal evaluation.
Why It Matters: Before engaging in a vendor’s enrollment process, 60% of a solution provider’s decision-making is already complete. If vendors don’t provide accessible information, they risk being overlooked in the consideration stage. Transparent and easily accessible information helps vendors move higher on a partner’s shortlist.
3. Decision Stage: Communicate ROI Clearly
Action Item: Ease a potential partner’s decision by clearly communicating the expected return on investment (ROI). One method is to include an estimate of investment and return in your partner program guide. Even better, offer prospective partners an ROI calculator where they can plug in their numbers and get answers based on their specific business model.
Why It Matters: Even if your product is award-winning, partners need to know that they can make a profit by selling and supporting it. Clear communication around the financial benefits of partnering is crucial to winning over solution providers who are weighing the potential ROI for their own business models.
4. Activation Stage: Streamline Enablement
Action Item: Avoid overwhelming your new partners right after they sign the agreement. Ease the partner’s journey by defining smaller step-by-step actions. Offer a little sales training aligned with a little technical training along with a little marketing enablement and a little execution. Then embark on round two: a little more sales training, a little more technical training, a little more marketing and a little more execution.
Why It Matters: A good start sets the tone for the entire partnership. New partners are most vulnerable to frustrations during the onboarding stage, and a poorly managed process can lead to disengagement or, worse, a failed partnership. Vendors must prioritize making the onboarding process as seamless and supportive as possible.
5. Engagement Stage: Listen to Your Partners
Action Item: Accelerate partner engagement by aligning sales processes and compensation to support the partner’s business model. If the partner wants to drive the sales process for their customer, you need to be flexible enough to follow their lead. When the partner registers the opportunity and indicates “Do NOT contact them,” align to their request. The same is true for partner compensation. Be flexible to align to the partner’s business model.
Why It Matters: Not all partners can be treated the same. Some don’t want referral fees. Some don’t resell. Heck, some don’t want to sell at all, they just want to be rockstar implementers and provide great customer service. To continue the partnership past the first opportunity, align with how the partner wants to work or you will end up with a “one-and-done” relationship.
6. Growth Stage: It’s All About Profitability
Action Item: Ensure partners are profitable with your product line or services practice. In your QBRs, ask them about their profitability with you. They will likely know and be able to give you suggestions for increasing it. From our research with partners, the top two drags on their profitability are the relationship model and ease-of-doing business. Time and time again we hear if you can fix the conflict over services, the relationship scores increase. Additionally, investments in tools, materials, people and automation will help streamline processes and make you easier to do business with.
Why It Matters: Sustaining growth in a partnership requires a commitment to shared success. Vendors who actively support their partners' growth – by offering scalable resources and aligning on long-term goals – create a win-win scenario. This not only solidifies the relationship but also drives innovation and market expansion, ensuring that both parties continue to thrive.
Vendor Success Lies in Proactivity
The journey of a solution provider with a vendor is complex and multi-faceted, but success lies in a vendor’s ability to anticipate and respond to their partners’ needs at each stage of the relationship. These action items serve as a roadmap for vendors looking to strengthen their partnerships and ensure mutual success. Read the full report to see data supporting each stage of the partner journey.
Amanda Hawkins is responsible for those marketing emails you get from PartnerPath and edits and designs our fantastic reports written by Diane Krakora. Have you taken a look at our archive of past research? Don't miss more great content in the Resource Center.
