In my years of dealing with different kinds of channel and alliances, I have often seen the dynamics that drive the best of partnerships. There are highs, and then, there are lows. Which often sparks the question: What do channel partners need? Who are the players and what are the roles? What is the requirement that they desire to satisfy? In all the potential answers, one factor stands out: Commitment.
A word that sparks fear and phobias in an average human mind; with several psychological diagnoses to label it: Commitment is a wide net. It is not just commitment to the business - it is commitment to thepartners' business. Don't get me wrong - this is definitely a two-way street. When you speak to a channel partner owner, they want the reassurance that you have their business: margins, paybacks, employees, future - all covered. The same way that the channel teams at organizations want to guarantee their quotas and quarters. The shareholder expectations conversation at most vendors is a far echo. Seems like a large bucket list. right? The game just gets more complicated as you get to the larger pool of players. But it is the same modus operandi as any human relationship. It requires mechanisms to keep the commitment running smooth and solid.
People do business with people. Today's day and age, this travels across many mediums. It can be through face-to-face interaction, email communication, activations, roadshows, seminars, webinars, trainings, conferences, social media and this list is endless. The main flavor in keeping this commitment is one aspect: keeping it simple. By not losing focus on the commitment game. We can apply several tenets of human relationships to a business relationship. When it comes to business owners backing a manufacturer or vendor brand objective; the mobilizing teams on both sides, need to keep the larger goal of delivering the said commitment in mind. What happens when the only aspect a vendor team sees is the number game? The pressure to deliver on unforgiving numbers quarter on quarter? What happens when the partner faces liquidity or lead conversion issues? The balance on the commitment conversation gets skewed.
A good way to keep the scales balanced, is to work on the channel relationship with a consistent committed approach. Promise to love and hold dear; through sickness and in health. Let's look at what have been the tried and tested methods so far:
- Understand - The business, the motives, the people in the channel. It doesn't happen overnight. But with the right investments of time and talent this is the most rewarding step.
- Engage - Being there with a consistent pattern of support; every measurable quarter. Give as much as you expect and understand how to manage those expectations.
- Communicate - Updating the channel partners on the past, present and future state of the business.
- Excite - Give the channel partners a goal to look forward to; plan the next steps to fulfilling the commitment
- Entertain - The occasional energizer might seem like it costs to host the Oscars; but the rewards to keep your partner close and drive the conversations have high ROI.
- Profit - At the end of the day, margins are the only metric that matters - are 'we' [channel and vendor] making the money to keep this commitment fueled? Is the channel partners future proving the potential on the cost on both sides?
How is this different from any other relationship? Maybe it is the way we understand it - do we apply work / life balance to our channel relationships? Do we make it work the same way we want our businesses, jobs or personal commitments succeed? I am sure I have missed more points to the channel dynamics - but the list is not exhaustive and only draws on the most common aspects of the channel partner feature.
The floor is yours.
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