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Implementing effective channel partner management strategies is essential in order to be successful and navigate the significant challenges presented by managing channel partners, such as the misalignment of goals, inconsistent messaging and inadequate communication. Whether you’re just starting a channel partner program or looking to optimise your existing program, this blog will provide valuable insights into how to manage channel partners successfully, some of the common challenges faced when managing channel partners and practical strategies to overcome them.

To build a successful partner channel program, it’s important to carefully manage and nurture the vendor/partner relationship throughout its journey. Several key components must be considered to ensure a successful channel partner program, which includes understanding your channel partners, providing a top-quality onboarding process, ongoing communication, and measuring success.  

As much as most partners can and do have an incredibly positive impact, if the relationship between a channel partner and your business isn’t successful, the experience can cost valuable time and money.  This is where channel partner relationship management (PRM) comes in. By focusing on PRM, your business will reap the full potential of your channel partners by strengthening those connections, reducing complexity, and achieving the revenue goals your stakeholders want.

For many businesses today, they’re the largest source of revenue. More than 70% of all global revenue can be attributed to third-party channels, according to data from Forrester. In the tech industry, channel partners bring in about two-thirds of the revenue. The importance of channel partners to the success of a business is clear. Yet why are so many still dissatisfied with existing partner programmes? And what makes channel partner engagement so crucial?

A channel partner network is a sales approach that offers fantastic opportunities to increase your reach and penetrate new markets. The success of your channel partners is a shared success, but like all partnerships, it takes effort to ensure they are effective. But how do you keep your channel partners motivated?

From your dealers and distributors to your franchisees and resellers, they all keep your supply chain running and help hit your company’s overall goals. Therefore, it’s in your best interests to provide them with the best channel partner training possible. In this blog, we explain what channel partner training is, how it will benefit your business and the key steps to take to build an effective training programme.