Channel Partner Recruitment Strategy
Recruiting suitable and effective new channel partners is a cornerstone of any Channel Managers job. However, best practices and methodologies are rarely understood, leading to the addition of unsuitable partners that waste time and distract from more effective partners.
The link below will bring you to Module 3 of the Certificate in Channel Management which we offer as a free trial. It is one of 10 modules covered in the course and is comprised of two videos, an eBook and a powerpoint presentation highlighting best practices for an effective channel partner recruitment strategy.
The Channel Institute has trained and certified hundreds of channel business professionals globally. Our channel partner training programs are considered the gold standard for channel management, channel sales and channel marketing. The courses have been validated by an independent Industry Advisory Council comprised of the most senior leadership in the channel profession at many of the world's largest employers. These channel thought leaders ensure that our course content meets the highest global standards. If you want to raise your game as a channel professional, get certified with the Channel Institute.
We hope that you enjoy this free module, find it helpful, and consider taking one of our full 10 module courses.
Channel Recruitment
Abstract from the eBook on Channel Partner Recruitment included in this module:
The eBook addresses some of the key issues involved with channel recruitment strategy and process. It focuses on the most difficult scenario where the software vendor has neither customers nor channel partners in the territory. We call this the “bootstrapping” phase. The eBook recommends what to prepare for being successful with the channel recruitment process itself and it also discusses what it takes to find and recruit those channel partners who are most likely to become successful in winning new customers in the market.
A successful partner recruitment activity for a new market is estimated to take approximately 9 -12 months including an initial market assessment performed prior to contacting any potential partners.
This eBook deals exclusively with the process of recruiting independent channel business partners, which operate in their own name and at their own risk and cost. It is also assumed that these channel partners are supposed to find, win, make and keep happy customers for the software vendor’s product(s).
Vendors are alo reminded that they are trying to entice new channel partners to enage with their channel recruitment process, so include all the goodies that turn partners on. Set out how much money they will make, proof of product quality (testimonials and references), sales and marketing support, price protection, guarantee/warranty, MDF, product customization and so on.
Knowing the right type of channel partner to reach out to, and identifying the key decision-makers responsible for partnership alliances is the first step to a successful recruitment effort. Having access to good data and nurturing the right people over time will make your ael partner recruitment initiatives more effective.
The goal is to build a channel partner program that is appealing, uncomplicated, and a win-win for both you and your channel partners. Recruiting and engaging your ideal channel partners will enable you to penetrate the market more quickly and establish a significant competitive advantage.
Once you have identified your ideal channel partners, the second step is to figure out what you can offer them. The better your value proposition, the easier it will be to recruit new channel partners to your program, and the stronger your partnerships will be. Publicize your new initiative, underscoring your need to expand your channel coverage. Provide a compelling reason, based on yur company's strategic plan, for recruiting new partners. Be careful to manage your publicity so that customers and partners you want to keep fully understand your goals, especially if established partners are being removed from the program.
Channel partnerships are often global initiatives that need to be well implemented locally. Programs of this type require sustainable, ongoing efforts which necessitate experienced sales and marketing resources to develop close relationships with prospective partners, to speak to them in-depth and on their level.
Once you have re-engineered your channel ecosystem to include those partners most likely to succeed in helping you achieve your corporate goals it is then time to discover if your actions are delivering your anticipated results. Measuring factors such as partner engagement in joint marketing activities, deal registration as well as overall sales are key indicators for whether your channel partner recruitment campaign has been successful.
Remember that even when you have found and recruited the right channel reseller parter, you may still have to train them and walk them through your product sales process multiple times before they can even close one deal. Sometimes it can take a good 6-12 months of concentrated effort before you have a channel partner that can effectively represent your organization.
The eBook concludes that successful channel partners are made by dedicated and committed professionals. Until you have met your potential business partners in person you will not be able to make the right choices.