3 OBSTACLES TO A THRIVING CHANNEL PARTNER ECOSYSTEM
In this blog post, we will explore why channel partners are key to success in the modern marketplace and what can be done to help channel partners overcome today’s most common obstacles to success.
Channel partner transformation
Channel partner transformation is the process whereby you enable and empower your channel partners to sell your services or products. It is a way to increase sales and expand your business by creating partnerships and adding to your workforce.
Benefits of a successful program
An enablement program, when properly crafted and managed, can increase your market share and improve your bottom line. It’s worth noting, according to a 2019 Aberdeen Research Hub study, of companies that effectively enabled their channel partners: 28% experienced shorter sales cycles, 12% had higher lead conversion rates, and 10% saw better quota attainment overall.
But research has shown that the design, execution and maintenance of enablement programs can be quite costly if they are not rolled out properly. Without the right tools and training programs in place to increase sales effectiveness, enablement programs can easily get bogged down and minimize performance.
Obstacles to Channel Partner Success
How do you rapidly deploy a channel transformation program when the partner ecosystem ranges from several small to large organizations and are located in countries across the globe? In the past, providing partners with sufficient training and resources to get the job done took a lot of time. Complicated logistics would include arranging facilitators for training, rotating training slots for global sales teams, and endless research to pinpoint the right support tools. Old school processes like this could take several months to deploy and in some cases you could be looking at years.
Technology has changed the game. From Zoom to Google Translate to today’s rapidly deployable web-based sales training ecosystems, there are resources out there that can meet the needs of the modern channel partner program. The key is finding the right one that meets your needs.
Time out of the field
Traditional channel partner training programs took place in the classroom. This method would siphon critical revenue generating hours from sales teams that needed to be out in the field – doing what they do best – closing deals. Today’s channel partners don’t have to struggle with this. They can be trained in real time. And receive the techniques and skills they need to sell more effectively right when they need it most.
Lack of access to scalable expert coaching
Technology is king. But the importance of expert human feedback is never going away. Nowadays you can consume content from just about anywhere. But it’s not enough. In order to truly upskill partner organizations there needs to be both application and feedback from subject matter experts who can guide them on the path to transformation.
The challenge? Gaining access to enough actual subject matter experts that can ensure success across the vast partner ecosystem. This can be done either internally through a train the trainer program or it can be outsourced by finding the right training partner to light the way ahead.
For channel partner organizations, the stakes are high. And with a constrained time out of the office to get work done and less access to experts on-demand, it’s no wonder they struggle when trying to upskill their channel teams.
If you are considering a new partner channel transformation process, GPG has developed a new deployment disruptor that will provide your partners with an instant upskilling process guaranteed to yield instant channel ROI.
Learn more today and schedule a demo with our partner transformation specialist.