Build Partner/Channel Programs that Work – The First Time!

Partner/Channel programs fail for a variety of reasons, and the specific causes of failure can vary depending on the strategy or lack thereof. Based on my 30 years of partner/channel program strategy development and execution, here are the top five reasons why partner/channel programs fail:

1. Lack of focus, resources, and commitment

2. Lack of partner/channel strategy, plan and executive alignment

3. Incomplete channel ROI assessment

4. Partners are not being prioritized according to fit with your partner/channel strategy

5. No test market of strategy and plan

All of these reasons result in disappointing channel performance, loss of incremental revenue and wasted time. There are ways to reduce the risk of failure. How? Ask these questions:

• Do you even have a channel/partner play?

• Have you collected the data and done the analysis to support a channel/partner GTM program?

• Are you recruiting partners primarily based on the biggest/best brand?

• Have you developed a comprehensive partner taxonomy to support your strategy?

• Before you devote too much time and resource, have you tested your plan with prospective partners?  

• Are you taking your program to market prematurely?

Always test market your partner strategy before going all in. This means creating your partner joint value proposition and aligning it with a prioritized partner target list. Initiate a partner recruit campaign to those select partner targets, get the initial meeting, and pitch the JVP.

“Market testing is a way to test the waters to see how well a product, service, or offering will perform…or not.”

Entrepreneur’s Encyclopedia

Finally, when building a partner/channel program consider these key points:

• Use Cases: articulate your joint value proposition in the form of uses cases to reduce prospective partners’ skepticism.

• You have to give to get: Bring a lead or two to your partner to jumpstart the partnership.

• Set realistic expectations in your company: partnerships take time.

So, if you want to accelerate growth with the BEST go to market partners and avoid the pitfalls mentioned above, consider cost effective fractional resources.  Talk to us to find out more about how our fractional channel/partner executives can help. They will apply their proven methodology, best practices and tools to create a partner/channel strategy, plan and execution of a test market validation program.

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About the Author:

Chip LeBlanc has over 30 years of partner/channel experience and is a founding principal at BD Methods, an advisory firm delivering value to their  clients by applying their proven methodology to Accelerate Growth with the BEST Go To Market partners. BD Methods provides cost effective/high value services to create, validate and execute their clients’ channel strategy prior to hiring a full time Channel executive.