Heather Tenuto, Author at Zift Solutions All-in-ONE Channel Management Solution Tue, 27 Jun 2023 12:44:15 +0000 en-GB hourly 1 https://ziftsolutions.com/wp-content/uploads/2017/12/cropped-favicon-1-32x32.png Heather Tenuto, Author at Zift Solutions 32 32 6 Best Practices for a Successful Channel Incentives Program https://ziftsolutions.com/blog/channel-incentives-program-best-practices/ https://ziftsolutions.com/blog/channel-incentives-program-best-practices/#respond Mon, 26 Jun 2023 18:37:47 +0000 https://ziftsolutions.com/?p=127120 Channel incentive programs should prioritize long-term incentives to stay competitive. Channel incentive programs should align partner goals and supplier goals […]

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  • Channel incentive programs should prioritize long-term incentives to stay competitive.
  • Channel incentive programs should align partner goals and supplier goals to inform incentives.
  • Channel incentive programs should design incentive types to work together.
  • Channel incentive programs should avoid creating incentives into entitlements for partners.
  • Channel incentive programs should incentivize roles beyond partner salespeople.
  • Channel Incentive programs should incentivize pre-sale and post-sale activities.
  • 6 Best Practices for a Successful Channel Incentives Program

    Partner ecosystems are often a critical path to revenue growth for suppliers, with channel sales making up 75 percent of global commerce. An effective channel incentives program is a core element of a thriving partner ecosystem and ensures high-quality channel management.

    What are the top best practices for a successful channel incentives program? To answer this question, we spoke with eight industry experts. Our panelists include:

    Interested in jumping ahead? Check out six best practices for channel incentives programs to use in 2023:

      1. Prioritize Long-Term Incentives to Stay Competitive
      2. Align Partner Goals & Supplier Goals to Inform Incentives
      3. Design Incentive Types to Work Together
      4. Avoid Creating Incentives into Entitlements
      5. Incentivize Roles Beyond Partner Salespeople
      6. Incentivize Pre-Sale & Post-Sale Activities

    What are Channel Incentives?

    Channel incentives are rewards from suppliers and vendors for channel ecosystem partners to engage them in promoting and selling suppliers’ services, solutions and products.

    What are the Benefits of Channel Incentives?

    Channel incentives provide channel partner recruitment, partner engagement and business development benefits for partner ecosystems, including:

    • Driving partner performance and sales pipeline
    • Boosting customer satisfaction
    • Increasing supplier and partner revenue
    • Earning partner loyalty for select providers
    • Prioritizing vendor solutions and services
    • Differentiating suppliers from their competition
    • Gaining partner mindshare for vendors

    What are the Types of Channel Incentives?

    Various channel incentives exist depending upon their application for a specific partner type and vendor end goals. The most common types of channel incentives include

    • Channel sales incentives – Sales-oriented incentives for transacting partners are the most common type of partner incentive within partner ecosystems. Channel partner sales reps are rewarded based on sales volume, margin, product type, incremental overall growth goals, target industry growth goals and other sales-focused benchmarks. Partners receive single-use debit cards, gift card rewards, points-based merchandise rewards, incentive travel rewards, awards to publicize sales success and other forms of compensation.
    • Channel SPIFFs – SPIFFs (Sales Performance Incentive Funds) are well-known channel sales incentives that provide an individual partner sales rep or the partner company with a monetary reward based on a percentage of the deal closed. SPIFFs are typically short-term promotions that target specific business initiatives, such as growing the market share of a new product or increasing customers in an underserved industry vertical.
    • Channel marketing incentives – Channel marketing incentives encourage channel partners to co-market supplier solutions and build the supplier’s brand.
    • Market development funds (MDF) MDF is funding the supplier provides to a partner to help that specific partner market and promote the supplier’s products and services. Access to MDF is typically earned by achieving a program tier or proving ROI for the activity. MDF is usually allocated discriminately, tracked carefully and may have revenue requirements from a partner given the MDF to adhere to receive MDF in the future.
    • Channel enablement, training and certification incentives – Training and certification-focused incentives reward partners for completing sales, marketing, product and technical training courses, taking quizzes and achieving certifications available in a program’s learning management system (LMS). These incentives also reward attending in-person and online educational events, lunch and learns, tradeshows and webinars. These incentives include points-based rewards, gift cards and access to higher tiers in tiers-based programs.
    • Channel rebates – Channel rebate programs create demand and influence end customer buying decisions, which can push a supplier’s solution set over the line with decision-makers. Partners are typically rewarded based on order size or frequency for a particular product set.
    • Channel referral incentives – Referral incentives reward channel partners for deal registration and identifying possible sales opportunities. Like other sales-based incentives, they take the form of points-based rewards, gift cards, debit cards and incentive travel rewards.
    • Loyalty incentives and partner retention – Channel loyalty incentives are designed to retain high-performing channel partners who have already reached and claimed other incentive rewards. Their primary purpose is to keep your most valuable partners away from competitive partner programs. Instead of providing monetary compensation for growth, the supplier offers financial compensation for retaining existing revenue across specific periods with established thresholds around contract renewals for end customers.

    6 Best Practices for a Successful Channel Incentives Program

    Our expert panel identified six best practices companies should adopt in designing their channel incentives program.

    1. Prioritize Long-Term Incentives to Stay Competitive

    In our recent blog on 2023 channel program predictions, our panelists at the time predicted vendor partner funds would move to long-term investment versus short-term incentives, and our current panel confirms this trend.

    Our panel cautions against focusing program resources on short-term sales incentives like SPIFFs for transacting partners. Instead, they advocate long-term relationship development, such as loyalty incentives[DC5] , rebates that extend through partners to their end customers, access to universally applicable industry education and more.

    “We all think that extra margin will push the needle to close that deal,” says PartnerTap’s Muller. “We put in that 3X, 5X monthly incentive on closed deals [It] was a short-term strategy to gain and recruit new partners. But how long does that really last until your competition does it one level better? Then you have the constant ’back and forth’ of adding additional margin points here and there [and ultimately]; it doesn’t differentiate you.”

    “Why not look at the long term, where you will see the benefits for both companies? Partners want to work with qualified opportunities [and] they want to be able to trust that they will be working alongside a ‘teammate.’”

    Incentive Solutions’ Gunn notes that SPIFFs can still be effective, but her clients are incorporating long-term incentives such as loyalty programs for rewards for cumulative performance over time. “We have found the best success in beginning with SPIFFS, [with] the long-term goal of loyalty incentives,” says Incentive Solutions’ Gunn. “We tend to take a tiered approach, recommending points [and] online rewards for the mid 60 percent of channel partners, and group travel for the top 20 percent of [distributors] and their top dealers.”

    Gunn outlines how incentive management software provider Incentive Solutions approaches a successful sales incentive program. “The best approach [is] percentage of sales [revenue], percentages from our clients to their distributors, and then a [percentage] of sales revenue from the distributors for their dealers, and then rebates to the consumer,” says Gunn. “This multi-incentive approach works well, as you’re creating brand familiarity and loyalty through the channel. Once a client collects the dealer and consumer data, they can open lines of communication [with] them. We highly recommend a multi-touch approach to take advantage of the opportunity to build a connection.”

    2. Align Partner Goals & Supplier Goals to Inform Incentives

    Previous panels have stressed the need for alignment between partners and suppliers, and this panel is no different. Goal alignment is a core requirement for a successful partnership between a supplier and their partners.

    “To build a successful partner program, start by aligning your business goals and objectives with partner preferences,” said DONO’s Sharifi. “Maintain constant communication with your partners to make frequent adjustments and ensure that your program is always improving.” 

    PartnerTap’s Muller also recommends starting a dialog with partners to ensure incentives are meaningful. “The best way to provide the best incentives for the partner ecosystem is [to] ask them,” said PartnerTap’s Muller. “Seriously, [ask] what drives them [and] what they need to be successful for their business.” 

    TPx’s Conrad agrees, noting that communicating with partners will ensure your incentives align with how they do business. “Talk to your channel partners, ask them what motivates them [and] what will encourage them to quote and sell your solutions,” says TPx’s Conrad. “You must also understand their business model to make sure the incentives benefit the sellers.”

    3. Design Incentive Types to Work Together

    Our panel encourages programs to leverage multiple types of incentives in concert to drive toward your objective.

    “There are several types of channel incentives, including MDF [and] BDF, points-based solutions, rebates and SPIFFs, to name a few,” says 360insights’ Margolis. “These incentives, when created to work together, can build a much stronger relationship with partners. For instance, if your points-based program incentivizes the right sales and marketing activities and your MDF [and] BDF program provides funding for these activities, your partners will be driving more predictive revenue in a few months.”

    Creating incentives that work in tandem also requires that you coordinate implementation across your organization. “The most common challenge we see is that these different types of incentives are often run by different lines of business who may or may not collaborate well,” says Margolis.

    Driving channel sales behavior also may require you to offer complementary incentives. “One common challenge is most incentive programs reward partners [for selling] net new business and growing the channel, yet we are also still expecting them to focus on renewals and upsells,” says TPx’s Conrad. You need to reward partners for both.

    4. Avoid Creating Incentives into Entitlements

    Programs need to be wary of making incentives the primary lever for bringing in sales or literally overcompensating for deficiencies in the offer or organization. ITA Group’s Radke explains: “[Program] challenges include ’throwing’ cash or other incentives at a problem without proper understanding and thus making the award an entitlement.”

    Zift Solutions’ D’Angelo agrees that making incentives an expectation on every sale will eventually backfire. “A sales incentive should be a reward for closing a deal of a certain size, target vertical or another criterion,” D’Angelo says. “Paying SPIFFs on every deal is not sustainable, and when you pull them back, partners that rely on SPIFFs may interpret the change like a compensation cut and stop sending you deals altogether.” 

    5. Incentivize Roles Beyond Partner Salespeople

    Partner programs commonly incentives sales partners, but they are just part of the organization that sells and services the account. 

    Gigamon’s Jacobson advocates for compensating other roles inside the organization. “What separates us [Gigamon] on the sales side is that we’ve directed some of our incentive budget to the Sales Engineers (not just partner sellers),” says Gigamon’s Jacobson. “They play such an important role in the sales cycle and should be incented to successfully complete training and drive an opportunity to a successful close.”

    DONO’s Sharifi echoes the same sentiments to retain partner engagement. “Involve key stakeholders from all parts of the organization and offer a range of rewards and recognition options to keep partners motivated and engaged,” she says.

    6. Incentivize Pre-Sale & Post-Sale Activities

    Our panel also recommends extending incentives beyond wins to pre-sales and post-sales activities. “Our clients who are successful not only incentivize the end result, or sale, but also incentivize the activities that lead to the sale,” says 360insights’ Margolis. “By providing some sort of incentive throughout the funnel, so to speak, you’re motivating partners to do the things that will help them drive business for the longer term.”

    Incentives should ideally extend outside sales-oriented activities to marketing, training and collaboration activities that take up partners’ time but are invaluable for suppliers.

    Gigamon’s Jacobson says his company provides incentives for completing training. “When we think about our SPIFFs, we think about the entire sales cycle. Completing training is the first step in becoming better at positioning a product [or] solution. Once there is a foundational knowledge of the solution, this leads to deal registrations and eventually the successful closure of opportunities,” he says. 

    Jacobson also points to incentivizing marketing activities, like case studies. 

    Incentive Solutions’ Gunn agrees, noting her clients often award points “for marketing tasks like Google reviews, participating in surveys or joining client panels to help test products and provide much-needed feedback.” 

    Startup and household channel companies can use the above best practices for their channel incentives program to improve engagement with their ecosystem partners and increase their bottom line.

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    Getting the Right Balance: To-, Through-, and For-Partner Channel Marketing Strategies https://ziftsolutions.com/blog/channel-marketing-strategies/ https://ziftsolutions.com/blog/channel-marketing-strategies/#respond Tue, 27 Sep 2022 08:00:53 +0000 https://ziftsolutions.com/?p=122837 The post Getting the Right Balance: To-, Through-, and For-Partner Channel Marketing Strategies appeared first on Zift Solutions.

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    Originally Published: February 22, 2022

    • Without a tie-in to overarching goals, channel marketing typically takes a spray-and-pray approach to marketing in partner programs.
    • To drive better performance, channel leaders should consider three deployment options; through-partner and for-partner marketing.
    • Gaining the right balance along all three options ensures successful engagement and execution of channel demand programs.


    What is Channel Marketing?

    Channel marketing encompasses marketing to partners in the indirect sales channel.

    Technology companies leverage channel distribution strategies for software, IT services, telecom services and more. It’s become so prominent in the industry that marketing through these distributors, agents, resellers and consultants is referred to as “the channel.”

    Marketing in the channel is more complicated than direct marketing because you need to communicate your value proposition not just to the end customer, but to, through and for your sales channels as well.

    Over time, channel marketing leaders typically take a trial-and-error approach, looking for some combination of brand awareness, through-partner marketing and supplier-led marketing that yields the highest results.

    While companies refer to these terms differently at times, they can be viewed through three lenses: 

    1. Programs to drive brand awareness and engagement with partners.
    2. Partner-led demand programs that partners execute on behalf of their suppliers.
    3. Supplier-led marketing programs that help prospects connect with partners; these can be simply referred to as “to-partner,” “through-partner,” and “for-partner” marketing. 

    This article will define these three delivery options and make suggestions along the way on timing, duration and key examples. I’ll also explain how having the right balance can yield the highest results.

    Plus, here are 11 channel marketing best practices that can help engage partners and keep your program top of mind.

    DOWNLOAD ONE-PAGER

    To-Partner Marketing

    The first of the three delivery options, to-partner marketing is when suppliers create marketing programs, treating partners like leads, to drive partner awareness or engagement in a specific activity.

    Oftentimes referred to as to-channel marketing, this marketing delivery option usually means recruiting and engaging sales partners in your partnership with them—why they should work with you, benefits of working with you, how you can help them attract and serve their customers, and so on. To-channel marketing can have several layers, such as distributors and technology services brokerages (TSBs) as well as their networks of resellers or subagents.

    In this first option, vendors may want to drive awareness for a specific activity they would like partners to engage in. For example, this could be deal registration or a reminder of an upcoming training program or event they would like partners to attend.

    To-partner marketing has two primary objectives:

    • Objective one: Sign up partners
    • Objective two: Motivate partners to sell your solutions

    To do this, channel marketers must use all content marketing vehicles at their disposal to establish thought leadership, generate interest and maintain mindshare.

    Smart partners engage with partner programs that have strong marketing support to shore up this side of their business. One of the most important things providers can do to increase their indirect sales pipeline is build their company’s own brand, making it easier for partners to sell their solutions to end customers.

    Key Examples of To-Partner Marketing

    To-partner marketing activities might include all the communication required to get partners to attend a webinar, where they can learn about a supplier’s new portal.

    Rather than taking a one-and-done approach, a supplier could send partners a timed three-part email cadence:

    • Email one: Announces the webinar and why the partner should attend
    • Email two: Reminds the partner to register for the webinar
    • Email three: Final message, sent after the webinar, that could take them to a resource page where they download on-demand recordings of the webinar

    Even the webinar itself, which may provide a demo of the portal, can be considered a vital element of a to-partner marketing tactic as it can contain key messages, guiding partners through best practices or activities the supplier would like them to engage in.

    Other to-partner marketing examples might consist of:

    • Newsletters sent to partners apprising them of new developments in the partner program
    • Marketing events – both live and virtual – to raise partner awareness for new offerings
    • Announcements for new training or certification programs

    Timing and Duration of To-Partner Marketing

    It’s critical to align the timing of to-partner tactics with the call to action (CTA) you want partners to execute.

    For example, if it’s a webinar you’re asking partners to join, then ensure you’re inviting them three weeks out, just like you would a customer. If it’s a more immediate task, like asking partners via email to make sure they complete their profiles on the partner portal, take a more immediate approach by providing a link to an FAQ or guided tour so they can quickly act on your requests.

    Longer, multi-touch to-partner marketing campaigns can be used to reinforce new program benefits, like deal registration or new offerings. In these cases, the campaigns should last as long as you want your partners to be made aware of the new offering – no need to sound like a broken record if the message has already been received.

    Through-Partner Marketing

    This second delivery option is sometimes referred to as partner-led marketing. It’s used to generate demand through partners by offering them tools, programs and campaigns they can use to reach new prospects or existing customers.

    Sometimes referred to as through-channel marketing, this marketing delivery option means marketing your products and services to end customers through your sales channels. This might include some to-channel elements (such as what partners get for selling that product) as well as sales-enablement training and materials your sales partners use to recruit and close end customer revenue.

    Often fueled by market development funds (MDF), through-partner marketing includes digital marketing programs, such as social selling or content marketing programs, which can be fully developed or customized by the partner with a message or CTA of their own.

    Regardless, the objectives of these programs are to ensure partners can execute targeted marketing programs and upload their customer lists if needed, but not necessarily to make them expert marketers.

    Key Examples of Through-Partner Marketing

    Digital events fall into this category and are becoming more relevant to partners post-pandemic, having eclipsed live events. These programs contain all the elements needed for the partner to advertise, execute and follow up on a digital event regardless of geography. Key ingredients include a strong mailing list, registration and resource pages, and follow-up email campaigns to nurture leads.

    Another example partners favor is “Social Selling” programs that allow them to syndicate content through their social accounts, like LinkedIn, and reach contacts within their network. This is a popular tactic with channel marketers who want to tap into a partner’s network of prospects and customers. Key to this program’s success is the ability to curate social content on a regular basis, then later link this content to inbound landing pages and follow-up offers. Channel marketers can automate campaigns such as these for partners using partner relationship management (PRM) software platforms, like ZiftONETM.

    Through-channel content is similar to what your company would develop for direct marketing initiatives. The primary difference is that all physical and digital assets are typically designed to be branded or co-branded by your partners. Top channel marketing programs go further than just allowing partners to add their logo and website; they enable partners to customize channel marketing collateral with their own messaging that promotes their value proposition as well as your products. Examples of brandable content include:

    • Flyers and data sheets
    • Battlecards
    • Blogs
    • Case studies
    • eBooks
    • White papers
    • Presentations
    • Videos
    • Podcasts
    • Webinars
    • Events
    • Digital campaigns
    • Social campaigns

    Timing and Duration of Through-Partner Marketing

    Ensure adoption with partners for any through-partner marketing effort by letting them know what’s in it for them and how they can participate.

    Precede the actual marketing activity, like executing their first campaign, with a brief webinar you can use to invite targeted partners and track those that attend, then reach out to them immediately afterward to execute the next step, using a partner concierge if necessary. The actual demand gen programs themselves should have a cadence in terms of touches, email drops, etc., that will support the target buyers’ journey. This should last as long as necessary, which is typically determined through marketing planning that factor in the buying process, average selling price (ASP), method of buying (committee, consensus or transactional) and type of demand (new concept, new paradigm or established market).

    This process will describe the campaign and assets to reach the target buyer, whether a transactional purchase under $15,000 ASP (think broken router) that requires a one-touch inbound search engine optimization (SEO) campaign or a multi-touch nurturing program that could last for months for an enterprise computer software (SW) purchase involving multiple decision makers.

    For-Partner Marketing

    The third deployment option, for-partner marketing, is used when the supplier is delivering a marketing program or deploying a tool on their website, like a partner locator, directly to the prospect for the benefit of a partner.

    Key Examples of For-Partner Marketing

    In the website prospecting example mentioned above, a lead is sent to the partner when a prospect requests to connect with a partner who can help them. Here, the supplier delivers the assets directly to the customer on their website and any resulting inquiries will be passed on to a specific partner.

    Another example could include a competitive marketing program, where the supplier is trying to steal market share from a competitor by targeting a list of prospects and connecting them with a partner who can facilitate a try-and-buy offer. In this example, it’s better for the supplier to drive the competitive message since the partner often plays the role of a trusted advisor, and it wouldn’t work well if they were seen as biased.

    Timing and Duration of For-Partner Marketing

    These types of programs should not be overused, lest they create a dependency on suppliers to find leads for partners. Instead, they’re typically used as “silver-bullet” campaigns that are targeted and used within a limited timeframe in support of an offer, such as a financial incentive offered in Q4 or competitive win-back program lasting 30-90 days.

    Tools, like the partner locator or online configurator that can help a customer learn more about solutions and where to find them, could last longer but should be periodically audited for effectiveness.

    Achieving the Right Balance in Marketing Efforts

    There are two ways to look at the collective use of To-Through-For partner marketing. One way is to think about the three options individually, to determine if your organization is employing too much of one option over the other.

    Sometimes channel marketing leaders will complain that they’re doing too much for partners, handing them leads from their website with little agreement to follow up with them in a timely manner. In this case, the supplier may be looking to shift the activities from for-partner to through-partner as in the example below:

    Or you might hear them say they spend too much on messaging partners in newsletters, emails, events, etc., with little insight or ROI on whether their communications resonate with partners. In this case, they may want to spend less time over-communicating and more time getting partners to take the next step.

    You might be wondering, “What is the right balance?” Well, there’s good news and there’s not-so-good news…

    The Not-So-Good News About Balancing Marketing

    The not-so-good news is that all partner programs may differ in the types of partners they support, so no one model works for everyone.

    A reseller program may require a hefty amount of to-partner marketing to remind smaller resellers to engage.

    An alliance program between two suppliers that also includes direct sellers and respective channel partners could require a completely different distribution of activities.

    The Good News About Balancing Marketing

    You aren’t alone. Most programs already track their spend in these areas. For example, if your company is working with MSPs, it wouldn’t be hard to find the right balance for those types of partners. You need to benchmark how suppliers, master resellers, agencies and other channel providers engage with these types of partners.

    A good rule of thumb that works with most partners who resell third-party products and their services is to spend most of the effort on through-partner activities, mainly because they are revenue-generating and can show ROI.

    Next, consider what it takes to effectively communicate with partners on these activities with at least a 25-30 percent investment in to-partner marketing. Why? Because if you don’t, most suppliers report that the engagement for the through-partner drops below 15 percent without a steady use of awareness programs reminding the partner – what’s available, what’s in it for them, how they can engage and where and when to get started.

    The final delivery option – for-partner – should be limited to specific tools or programs to help customers connect with partners, like a partner locator or a specific campaign, such as a financial offer made to customers directly and later fulfilled by a partner.

    Best Practices: To-Through-For- Partner Marketing Investment

    Again, these are limited programs and should not, on average, take up more than 10-15 percent of overall channel marketing investment unless you are uniquely required. This distribution is illustrated in the table below:

    We’d like to hear from you!

    Want to gauge your own investment against other channel marketing programs? We’re surveying channel suppliers online at this link. 

    Please join others in submitting your distribution and the types of partners you support by filling out the survey. Once you do, we’ll provide you with an approximate benchmark of your channel marketing investment compared to others supporting similar partner types.

    We look forward to hearing from you!

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    Why Reading a P&L Matters to Channel Leaders https://ziftsolutions.com/blog/how-to-read-a-p-and-l/ https://ziftsolutions.com/blog/how-to-read-a-p-and-l/#respond Tue, 30 Aug 2022 14:47:50 +0000 https://ziftsolutions.com/?p=124397 The post Why Reading a P&L Matters to Channel Leaders appeared first on Zift Solutions.

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    Here’s something that never changes: People saying the channel is changing. They’re right. It’s been happening at a breakneck pace for at least my entire channel journey, which stretches back into the last millennium!

    In nature, changes in the ecosystem cause organisms to adapt. This is no different within partner ecosystems. In our current climate, I contend that the most important adaptation a channel professional should undergo is one towards accounting and finance literacy. While channel roles have always asked for people with highly evolved relationship skills, they may not always ask for traditional “numbers” people.

    Unfortunately, what’s been done in the past isn’t necessarily what still works. Today, the most successful channel leaders need to be good at building relationships and at delivering strategies backed by sound financial reporting.  This starts by understanding how your channel metrics impact the company’s P&L (profit and loss statements). 

    If acronyms like P&L, COGS, and EBITA don’t come as easily to you as VAR and MSP do, you’re in luck. I’m speaking at the upcoming MSP Summit in Orlando, Florida. Come to my session for actionable insights into reading financial statements. From there, you can start on the path to making your CFO your BFF.

    Ready to learn more about how brushing up on financial literacy matters more in the channel than it ever has before? It’s because… 

    It’s not “channel for channel sake,” but “channel for revenue’s sake.”  

    “Channel first!” has become a channel chief battle cry. Partners like hearing it but even they know that a channel program won’t last if it’s not the supplier’s most attractive go-to-market strategy. A combination of the profitability, scale, time-to-value, and risk status of a channel program needs to stand out from other routes to revenue. The most successful channel leaders will study and master financial reporting to win the hearts of CFO’s and partners alike. Demonstrating real Return on Investment (ROI) is music to a CFO’s heart. Successful channel chiefs focus on proving the value of the channel to the organization.

    Private equity has taken an interest in the channel.

    It’s a particularly active economic time for private equity firms, and we see big investments happening across many industries. Channel companies are no exception. There’s an abundance of PE-backed investment and M&A in tech companies with a strong indirect sales model, in both distributors and technology service brokerages as well as in channel tech companies. It’s important for channel leaders in companies seeking investment to understand what is attractive to private equity. Then, when private equity inquiry and investment arrives, channel leaders need to be able to answer tough questions about the profitability, sustainability, and scalability of channel revenue.  

    These skills lead to career advancement and flexibility.

    Climbing the corporate ladder or reaching for roles outside one’s experience takes boardroom prowess. The best feedback I’ve received in my career was that my lack of accounting and financial literacy was holding me back. Imitating a deer-in-headlights when asked how changes in the channel program will affect COGS and SG&A isn’t a good look.  All that to say, I had to adapt. I became what the ecosystem required. Acquiring the financial education I needed put me on the career path I desired. Simultaneously, I became a real asset to my employers, our customers, and the partners we work with. 


    Bottom line: admitting you have a gap and starting to fill it is the hardest part.  If you’re interested in learning exactly how to do just that, please join me at MSP Summit for my session on “Building Your Channel Leadership Skill Set: How to Read and Understand a P&L.”

    When? Tuesday, September 13

    1:45 pm – 2:20 pm

    Where? Caribbean Ballroom 1

    Sign up to register here!

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    Eyeing the C-Suite? Two Questions to Ask Yourself https://ziftsolutions.com/blog/eyeing-the-c-suite/ https://ziftsolutions.com/blog/eyeing-the-c-suite/#respond Thu, 12 May 2022 09:00:03 +0000 https://ziftsolutions.com/?p=123442 One day, my fourth-grade teacher asked the class to write an essay about what we wanted to be when we […]

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    One day, my fourth-grade teacher asked the class to write an essay about what we wanted to be when we grew up. She hung a poster that listed careers to give us some ideas. As she wandered the room she started to notice that every one of the girls had chosen either a nurse or a teacher, which are the most difficult of professions, but also the only ones with pictures of women on the poster. My teacher ripped up the poster and made us all pick something else. “Women can be anything!” she said. “Well if that’s the case,” I thought, “then why not go straight to the top?” 

    I titled my essay: Heather Tenuto, President of the United States of America.

    Question1: Is the C-Suite for you?

    I would be a terrible POTUS. They don’t seem to get much sleep and the pay isn’t that great. I would hate that job. As it turns out, just “getting to the top” isn’t a good enough reason to want to be a CXO, either.  

    Being a leader at the top of an organization requires very different skills than the roles within it. I’ve always been a great problem solver. Give me a problem, the messier the better, and I will work my tail off to resolve it with grit and elbow grease. These skills are useless as a CRO.  There are too many challenges to be solved, even for me. My job is not Head Problem-Solver but Head People Developer: very different and not for everyone. Before you target the leadership role, make sure it’s something you are equipped for and happy to do. 

    Question 2: Are you ready for more feedback? 

    We all say we’re “open to feedback” because it’s what we’re supposed to say… but is it really true? Early in my leadership journey, I recognized that receiving negative feedback affected me physiologically. It changed my mood, others noticed, and in turn they stopped giving me feedback. Being open to feedback means being able to listen to what others say, refraining from reacting, deciding what to accept, and then making a change for the better.  

    I once shared my resume with a colleague I had previously worked with and asked for his feedback. He told me that a C-level position was too much of a reach for me, and that I should focus on Human Resources instead of Sales. In the past, that kind of critique would have decimated me, but I had since learned that it’s okay to reject feedback. This person hadn’t worked with me for a very long time, and hadn’t seen me in a Sales position. I was thankful for his candor but I didn’t change course, and soon landed the role I was after. 

    Once I got more comfortable with feedback, I found people I trusted and asked them for very specific advice. And because I didn’t react negatively, they were happy to give it. 

    “What weaknesses do you see that will hold me back from becoming a CRO in 2-4 years?” 

    My boss’s answer gave me a game plan. I had gaps, and I found ways to fill them and was able to achieve my goal. And there was more feedback waiting for me when I got there. Board meetings are feedback thunderdomes. Get ready. 

    Understanding what’s required of the job to which you aspire and uncovering and filling the gaps in your own experience is the surefire formula for success at any level. It’s worked for me so far, I will apply them when I am ready for my next role, which to the disappointment of my fourth-grade self, still won’t be President of the United States. I’ll leave that to the professionals.

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    The Secrets to Boosting Channel Partner Enablement https://ziftsolutions.com/blog/boosting-partner-enablement/ https://ziftsolutions.com/blog/boosting-partner-enablement/#respond Thu, 10 Mar 2022 15:53:31 +0000 https://ziftsolutions.com/?p=122955 If you’re wondering what the difference between sales training and sales enablement is, you’re asking a common question. I like […]

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    If you’re wondering what the difference between sales training and sales enablement is, you’re asking a common question.

    I like to think about it this way: Training conveys information about how you should do something. Partner enablement gives you help, support, and guidance while you do that thing. To train partners and their salespeople, you can send links to training courses, or get salespeople in a room together and present to them. You can even give them a test to see if they retained the information. This is a part of many supplier certification programs.

    To Onboarding and Beyond!

    On the other hand, sales and partner enablement begins when a new partner or partner employee is onboarded. Think of onboarding a new salesperson as the process of building “StarShip Sales Enterprise”! 

    How exactly does one get started assembling their very own rocket ship to sales success? We recommend beginning with these steps: 

    • Start with scaffolding

    We build scaffolding around our sales starship to provide support while under construction. It’s crucial to bring the necessary materials, product briefs, use cases, economic analyses including total cost of ownership (TCO) and return on investment (ROI) calculators. We bring sales slicks, reviews and relevant reports, and any tool a salesperson might need. This is the start of partner enablement: the provisioning of tools.

    • Add booster rockets

    The best thing we can do for a new salesperson is to speed their first journey to the completion of closed sales, so we attach booster rockets to help them lift off and rise. These can include sharing effective presentations, elevator pitches, pre-planned demonstrations, and other processes they can immediately employ in their earliest adventures. These booster rockets may also include early well-qualified leads or co-selling support from a seasoned supplier salesperson. 

    • Engage, engage, engage

    While this may have been Captain Picard’s instruction to launch the ship, it carries much more meaning when it comes to sales enablement.

    Training usually ends with sending the salespeople out to do their thing, but when it comes to enablement, we’re in for the whole ride. We truly need to engage with those we’re enabling to make sure they have everything they need to be successful. And that does mean everything!

    When any of our collateral materials are updated, everyone’s best interests are served when we make sure salespeople are made aware and have the new updates available. Same with discontinued products that are replaced with new models. A mechanism must be in place for constant enablement. It may be your channel account managers (CAM), your marcom department, or your To-Partner Communication platform, but it must be there in the right place at the right time in order to be effective. Our new sales starships need to be able to reach all the way to StarFleet Command!

    Remember, instilling sales enablement is a continuing process that goes on throughout the life of your partner relationship.

    Co-Selling: Tag Team or Training Wheels?

    Even though they include the word “training” in their name, training wheels are a good metaphor for our initial enablement efforts. We keep them on, and we stay closer than usual to the new salesperson until they feel confident in their ability to successfully close sales.

    Even then, our enabled salespeople may need further assistance down the road. Vendors have different names for it, and varying definitions for those names, but whether it’s “buddy calls” or “co-selling” the practice is the same. Salespeople sometimes need a representative of the product they’re selling to join them in addressing customer questions, making presentations more effective, or just increasing the customer’s confidence that the necessary vendor/partner relationship is alive and well.

    So, the answer to whether co-selling is more tag team or training wheels is that it’s a bit of both. Once the training wheels are off the sales professional will still often want their partner by their side.

    It Isn’t Just About Becoming “Self-Sufficient”

    Self-sufficiency is an important goal of enablement. Eventually, scaffolding must come down. This is when the booster rockets peel off and economies of scale can be realized. The truth is, however, the market changes, our products and services evolve, and most importantly relationships don’t sustain unless they are nurtured. And because of this, our enablement is never truly complete. 

    Smart channel executives view channel partners as true extensions of their organization, and smart channel partners do the same of their suppliers. The most lucrative partner relationships are strategic. In an ideal world, partners and suppliers work together to improve the buyer journey. This means constant and collaborative work on demand generation, sales, and delivery which require resources at every level in both organizations. Everybody enables everybody to enjoy greater success for supplier, partner, and customer. 

    That may not be “where no one has gone before,” but it is where everyone wants to go!

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    The Data-Driven Channel Chief: Choose Your Tools https://ziftsolutions.com/blog/data-driven-channel-chief/ https://ziftsolutions.com/blog/data-driven-channel-chief/#respond Mon, 11 Oct 2021 16:54:48 +0000 https://ziftsolutions.com/?p=121909 Being a data-driven channel chief myself, you’ll find me talking about data quite often in this blog. The more you […]

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    Being a data-driven channel chief myself, you’ll find me talking about data quite often in this blog. The more you know, the better decisions you can make, and the more success you will drive for everyone.

    But when I speak with channel chiefs in the field, I find myself wishing they would spend more time curating the tools they need to find the actionable data that will support making the right decisions for their channel’s success. There’s a tendency to “outsource” those decisions, to let the programs or IT team handle the selection of tools and platforms. I believe that’s a big mistake.

    I suggest to them that nobody in their IT team, and probably nobody else in their company, understands the channel business and their partners like they do. Nobody lives every day with all the inputs needed to be successful like they do, and nobody has a better handle on the reporting they need every day, week, month, quarter, or year.

    In speaking with channel leaders, it often surprises me how little they know about the tools their teams are choosing to understand and manage their channels. You need the right data, so you also need tools and platforms that your partners will actually use. Who is in a better position to make these decisions than the person on the hook for channel revenue? If I could give my past-self advice, it would be to stay very involved in any technology decisions that would affect my partners and the data I need to run my business.   

    Before You Decide What You Want, You Should Know What’s Possible

    For one thing, by participating more in the evaluation process for selecting data tools, you have an opportunity to learn. How are others using data? What more is even possible?

    You really shouldn’t decide what you want or need until you know everything you could have, everything that’s possible. Having real time understanding of all the new capabilities coming to market opens new doors of innovation and imagination you couldn’t have reached otherwise. You always start off not knowing what you don’t know, so your best strategy is to learn as much as you can about what you could know.

    Connecting and Combining Tools

    Right out-of-the-box, some platforms offer capabilities you may never have thought of or thought were not available in any system you’ve seen before. With just a little bit of ingenuity, or a good application programming interface (API), all kinds of other connections can be made with other systems that can really augment what you learn from these tools. They give you the ability to create the telemetry you need to run your channel business.

    It’s remarkable to see how the most successful of our colleagues have taken what the software vendors have given them, connected those applications to other platforms that support the business, and given themselves the ability to accelerate channel revenue through a multi-prong approach:

    • Analyze the data. What things happened to create revenue and how do we track the progress of those things into future quarters?
    • Coach the people. Where are the skills gaps and how can we efficiently plug them? 
    • Get ROI. How do I track my channel GTM investments and prove that they are returning?
    • Understand the customer. Where are customer needs trending and how do I help our partners pivot?

    Each of these viewpoints empowers a channel leader to make better decisions. The trick is making sure you can see all these things. Picking the right tools to give you the right vantage points is critical.

    There’s So Much More to Talk About

    Being a data-driven channel chief is a broad, inclusive topic. In future posts, I’ll be talking about:

    • How to best determine which key performance indicators (KPI) should be most prominently displayed on your dashboard. 
    • How data can surface challenges you didn’t even know you had, in time for you to take decisive action about them. 
    • How to recognize trends in the data that can help you devise future strategy.

    I’ll also be sharing insights and best practices from the best chiefs in the channel.

    Please do let me know if there are topics you’d appreciate learning more about here in this blog for channel chiefs by a channel chief.

     

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    How to Create a Repeatable Partner Enablement Framework to Grow Your Partners and Your Channel https://ziftsolutions.com/blog/repeatable-channel-partner-enablement-framework/ https://ziftsolutions.com/blog/repeatable-channel-partner-enablement-framework/#respond Wed, 12 May 2021 15:32:52 +0000 https://ziftsolutions.com/?p=119489 The post How to Create a Repeatable Partner Enablement Framework to Grow Your Partners and Your Channel appeared first on Zift Solutions.

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    In any service or support business, there’s one key question that investors ask that separates the wheat from the chaff: “Does it scale?”

    You don’t need to be seeking investment or exit to benefit from the wisdom of that question. Scale translates to consistency and predictability in service levels, revenue projections and cost forecasts. 

    Scalability is vital to partner enablement, which is the most critical component in the long-term success of any channel program. To scale that part of your business well, you need a framework that drives repeatable, reliable results.

    Why should you care about Channel Partner Enablement?

    Successfully enabling your channel partners delivers numerous benefits in all the areas that matter to the C-suite, including:

    • Shorter sales cycles – A powerful enablement program shortcuts partners’ learning curves and speeds sales qualification and quote times. In turn, improving these key metrics accelerates time to contract and, by extension, closing.
    • Higher conversion rates – Partners get better at generating revenue when they’re better educated on products and solutions, or they have access to materials and hands-on support to help them close business. Partner enablement delivers on both fronts.
    • Better quota attainment – Partners that can shorten their sales cycles and increase conversions are better at meeting – and beating – their quotas.   
    • Accurate forecasts – As all of these key performance indicators (KPIs) improve (sales cycles, conversion rates and quota attainment), so does the accuracy of your channel revenue and partner performance forecasts. Accurate forecasts translate directly to accurate planning – not just in your channel department, but throughout the company.  
    • Scale inside the partner organization – Have you ever noticed that your sales team seeks out the best salespeople in your company for tips and tricks to help them close more deals? Partners are no different; they gravitate toward success. The better you enable them, the faster your company mindshare grows, and the quicker your products penetrate portfolios across your partner organizations.
    • Lower partner attrition – When you deliver a strong enablement program to your partners, you keep them active and engaged for a longer period of time. That’s because you’re strengthening the ability of your partners to close deals. There’s no more powerful way to build partner loyalty than by helping them grow their businesses.

    The Key Components of Any Partner Enablement Strategy

    Sales partner enablement should be an integral part of your channel partner onboarding program. We’ve identified seven core program building blocks that can simultaneously build your partner’s capabilities and your mutual partnership:

    1. Training: The foundation for any partner enablement program is training. The scope of this activity will depend on your particular company’s solutions. In some cases – vertical solutions, for example – a significant portion of the training will be dictated by industry-specific needs. But many of those principles apply to selling a broad-based B2B product. Training should include:
      • Market demand and the problems your product class solves
      • In which niche(s) your product plays best
      • Why your product is better for your partner’s customers
      • What the partner gains from selling your solution 
      • Current partner SPIFFs and end-customer promotions
      • How to get closing support when it’s needed
    2. Goal Alignment: Hopefully, you’ve developed an ideal partner profile (IPP) and screened for partners that align with your strategic goals and operational capabilities. But don’t assume that success will materialize based on compatibility alone. Take the time to map out goals for the partner that align with your overall goals, identify where your partner has holes that you can help fill, and make plans to check in regularly on progress toward those goals.
    3. Incentives: Your competitors don’t pack up and go home when you’ve successfully converted a partner. They invite your partners over and over – often with steadily increasing incentives – to jump ship and sell their solutions instead. On this front, your best defense is a potent offense. Build in incentives that keep your partners selling your products in pursuit of higher-level rewards. Well-rounded partner incentive programs typically include SPIFFs on product sales, bonuses on revenue milestones, luxury rewards like car leases and trips for top performance, and public recognition of their achievements through awards.
    4. Sales & Marketing Collateral: Many channel partners are great salespeople. Most are not great marketers. Providing your partners with materials – both physical and digital – they can use to promote your solutions is key. Depending on your partner mix and your partner program model, you’ll need to provide fully white-labeled or co-branded materials to which the partners’ logos can be added.
    5. Ongoing Communications: These days, everything changes quickly. Keeping your partners updated is both challenging and essential. You need a communications plan just for partners like you do your internal teams and your customers. These could include product bulletins (for new products and updates), partner newsletters, email campaigns and dedicated social channels to communicate with your partners.
    6. Get Feedback: A good partner program incorporates partner feedback not only on your products and how they perform on the street but on your partner program itself, including your partner enablement program. In fact, the best partner programs have borrowed a fundamental tenet of design thinking—feedback-based development and refinement. 
    7. Partner Enablement Software: If all of this sounds like a lot of work, it is. That’s why scaling is both a challenge and a necessity. On this front, partner enablement software can be your best friend. Embrace it.

    10 Steps to Build Your Partner Enablement Framework

    Partner enablement is a big undertaking, but it doesn’t have to be painful. We’ve broken the process down for you in 10 simple steps that can help you achieve success, and we asked a panel of industry experts for advice along the way.

    1. Arm Your Company Before Arming Your Partners
    2. Plan in Advance for a Simplified Partner Enablement Experience
    3. Nail Down Your Other Partner Onboarding Practices
    4. Establish Your Training Plan
    5. Build Your Incentive Plan
    6. Develop and Deploy Collateral
    7. Establish Your Communications Routines
    8. Align and Set Your Goals
    9. Be Responsive
    10. Assess and Adapt

    Bob MauteStep 1: Arm Your Company Before Arming Your Partners

    A little prep goes a long way. When establishing or evolving your channel program, it’s essential not only to work through how to recruit channel partners but also to enable them. You’ll especially want to think through platforms, including learning management systems (LMS).

    “A solid LMS is critical to educating and certifying partners on your products and process,” says Robert Maute, Chief Revenue Officer for master customer experience technology integrator CX Effect. “In addition, a solid Partner Portal (PRM software) is critical to providing them with tools and strategies to help better market your products.” 

    Liz Lederer, Senior Vice President of North American Channel Development for Star2Star, agrees. The cloud communications provider gives partners access to its LMS for technical and sales training and its knowledge base for technical support, account information and quoting tools.

    Step 2: Plan in Advance for a Simplified Partner Enablement Experience

    MeiLee LangleyYour partners saddle up with you to solve their customer problems and grow revenues, not to decode how to work with your company or use its systems. Like all of us, they suffer easily from app fatigue. Make their experience painless and positive. 

    “Make it easy. Make it quick,” says MeiLee Langley, Senior Director of Channel & Field Marketing at cloud communications provider Nextiva. “Give partners tools they can learn, use, and measure easily and quickly. Partners are busy selling and implementing products; show them the value the training, tool, or program will bring them and how little time and effort it will take them to complete/use it, and you’ll see your engagement soar.”

    Tess Smith, Senior Vice President of Sales for NetFortris, shares these sentiments. “Simplify constantly,” he says. “Understand context, align priorities, prioritize time management, measure outcomes and adjust accordingly.”

    Tessley SmithStep 3: Nail Down Your Other Partner Onboarding Practices

    Partner onboarding and enablement are intertwined in a yin-yang symmetry. Partner enablement is essential to channel partner onboarding, but onboarding is also a crucial part of enablement. Getting the rest of your onboarding processes down pat will set up partners for success through the rest of the process and build trust at that crucial time when your partner is forming opinions about working with you. 

    “My advice [is to] build trust early on by demonstrating your commitment to the relationship and to the mutual success of the channel partnership,” says Jasmina Muller, Vice President of Global Channel Partnerships for global critical event management platform Everbridge. “Get to know their business objectives and how best you can help them support their end users, and continually offer the enablement and engagement they need to succeed. Build the relationship for the long term, and plan for the future.” 

    This is sound advice that applies throughout the relationship—from ensuring that you’re employing partner onboarding best practices to rewarding partner loyalty and longevity.

    Jasmina MullerStep 4: Establish Your Training Plan

    In addition to the LMS solutions advocated by CX Effect’s Maute, other opportunities for training exist, including:

    • Live training at your partner’s site
    • Live training on-site at your company
    • Remote or virtual training (including webinars for established partners)
    • Incorporating training in partner summits
    • Co-locating with or near major industry events that will attract many of your partners and planning training days adjacent to the primary event’s dates
    • Helping partners close deals (some may need assistance until they’re fully up on your products and value propositions)

    In-person contact with your partners is important because video calls can’t fully replace the impact of face-to-face meetings, says Charlie Pagliazzo, Vice President of Channels at communications solutions provider Granite Telecommunications. He’s also a strong advocate for enterprise-wide support of partners when they need it.

    “[Make support] available all the way up to ownership to work with partners and their prospects,” Pagliazzo says. “Participate in partner training sessions. [We] attended every event partners were having pre-pandemic [because] attending industry events and always being there [demonstrates commitment]. [Embrace] partner and client visits. Video calls can’t totally replace in-person visits. I predict they will resume post-pandemic.”

    Charlie PagliazzoStep 5: Build Your Incentive Plan

    Once you’ve got your partners through the door, you’ll need to give them a reason to stay engaged with you. Your most potent competitors – and if you use them, even top-tier distributors – develop reward systems that incent their partners to send revenue their way. You’ll need plans of your own in order to compete in today’s channel. 

    Additionally, if the right support systems are in place, you can create incentives that help your channel partners develop more autonomy in their sales efforts. 

    “Like a building under construction, partners need good scaffolding,” says Heather Tenuto, Chief Revenue Officer for enterprise channel management platform provider Zift Solutions. “Provide tools and support while they are learning to sell and support your product or service, but also incentives for earning autonomy.”   

    Heather TenutoIf you want to develop bigger and better rewards programs, refining your partner enablement framework into a well-oiled machine generates more ROI toward that goal. It delivers the revenue and margin predictability you need to cost-justify your incentives. 

    TIP: Some partner programs incorporate lead sharing into the mix. In some cases, leads are provided as rewards for business closed. If you include lead sharing in your partner enablement plans, be sure to track the outcomes of those leads to ensure that future leads are routed toward partners that work them effectively.

    Step 6: Develop and Deploy Collateral

    As we noted earlier, most channel partners have stronger sales than marketing skills. Providing materials they can use to present a more professional image can help them close business. And you’ll make your brand manager happy in the process because you’ll ensure that representations of your company are complying with brand guidelines. 

    Liz Lederer, Senior Vice President of North American Channel Development for cloud communications provider Star2Star, says her company leverages its existing knowledge base to give partners access to collateral that often can be branded for channel partners. “[We] give our partners access to our knowledge base,” she says, “which includes marketing collateral, sample campaigns, call scripts as well as help with technical support, account informant and quoting tools. They have access to all of our social media content, and we can co-brand most content for their use.”

    Liz LedererTypical forms of collateral for channel partners to deploy include:

    • Pitch decks
    • Email campaigns
    • Brandable flyers (digital and print)
    • Drip campaigns
    • Lead magnets
    • Landing page templates
    • Newsletter templates
    • Brandable newsletters
    • Digital ad templates
    • Product and educational videos
    • Social campaigns

    Step 7: Establish Your Communications Routines

    Nothing is static in 2021. You’ll need to communicate with your distributors and partners for product updates, training opportunities, partner events, contests, SPIFFs, promotions, commission distributions and much more. Much of that information also has to be communicated internally. Here are some simple but effective steps you can take to maximize efficiency and avoid duplicative efforts:

    • Don’t reinvent the wheel if you don’t have to. Determine which internal communications assets can be repurposed to keep your channel partners tapped into vital information. This could include materials that can be rethemed/reskinned for the channel, internal distribution assets your channel team forwards to your channel partners, or information you can copy and paste into channel-specific templates and update routines. You’ll likely incorporate all three into your plan.
    • Plan processes for the rest. Determine how you want to manage other communications that need to reach your channel partners. There’s a good chance you’ll end up with a mix of product bulletins, newsletters, updates on your channel-devoted social accounts, emails, texts, and portal and application updates. Depending on the content, you may share it across many of these communications channels. The important part is to establish processes, so your communications become automatic and scalable.
    • Assess and adjust. Use surveys and one-on-one engagement between your channel managers and their channel teams to ensure you’re reaching partners on their terms and assess how effective your outreach strategy is. Make adjustments when nMichelle Ragusa McBaineeded.

    Step 8: Align and Set Your Goals

    The need for alignment between your firm and your channel partners’ needs isn’t new, but how your firm can help your partners achieve their goals has changed since the pandemic—particularly in areas of digital transformation. It’s accelerated, and alignment moving forward will need to be calibrated accordingly. That’s not necessarily a bad thing.

    “While the pandemic presented many challenges, it has also provided many opportunities to reimagine how you conduct business in a digital normal,” says Michelle Ragusa-McBain, Vice President of Global Channel & Digital Strategy for channel consulting firm JS Group. “Once you align on your goal, vision and strategy, you can leverage a symbiotic strategy to survive, thrive and excel in innovative new ways.”

    Step 9: Be Responsive

    As we discussed earlier, getting feedback from your partners can keep you on your game and ahead of your competition. Solicit feedback regularly and empower your channel team to escalate channel enablement requests. And make closing support available when it’s needed. In fact, depending on the complexity of your product, you may prefer to prioritize closing support as a regular part of doing business. It’s also important to keep in mind that many partners assist their customers with a much broader solution set than yours, so it may be impractical for them to develop the same level of product knowledge as your internal employees.

    Lacey Rondon“We advise our partners to not worry about becoming experts in our portfolio, or in the technology but rather to dive into business challenges their customers are facing and to engage us early in the conversation so we can become an extension of their team and help to solve for those business challenges,” says Lacey Rondon, Regional Partner Leader for multicloud solution provider Rackspace Technology. “Partners have access to so many providers it’s near impossible to be proficient in all aspects of the provider’s offerings. We try to teach our partners enough to gain their customer’s buy-in for the second meeting, and we find that is more valuable for our partners long-term.”

    Step 10: Assess and Adapt

    Modern channel enablement platforms make it easier than ever to assess the efficacy of your channel programs and the performance of your partners. You can use them to deploy live surveys, identify partners that may have been poached or showing signs of inactivity, and develop dashboards that you and your partners can use to maximize the effectiveness of your partnership. 

    Repeatable Partner Enablement Framework – Download

    These are our tips for creating a repeatable partner enablement framework that can help grow your partners and your channel.

    DOWNLOAD ONE-PAGER

    Have anything you want to add? Sound off in the comments below.

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    Toll Takers & the Channel: Are You Seeing the Full CX Picture? https://ziftsolutions.com/blog/toll-takers-and-channel/ https://ziftsolutions.com/blog/toll-takers-and-channel/#respond Mon, 13 Jan 2020 18:57:56 +0000 https://ziftsolutions.com/?p=114354 In July, The New York Times published an article, The Last Toll Collector, that outlined how New York and New […]

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    In July, The New York Times published an article, The Last Toll Collector, that outlined how New York and New Jersey were reducing the number of toll collectors in favor of cashless toll systems. We’ve all seen this happening over the years — many municipalities eliminated toll collectors long ago.

    I live in New Jersey. Here, when someone asks us where we live, we answer with a Turnpike or Parkway exit number, not a town. Tolls are serious business in the Garden State, so it makes sense the collectors have hung on so long. When I first read the Times article, I commented on how it compares to being prepared for tech innovation. Technology sometimes displaces people or businesses, and we all need to be vigilant.

    This week, Forrester Analyst Jay McBain released his annual channel predictions. When I saw it pop up on my LinkedIn feed, I read it immediately. From the buzz I’ve seen, I know I am not the only one. It got me thinking: Why do we all love channel predictions so much? And then I thought about the toll collectors again.

    When the Times interviewed the last remaining collectors, they asked their opinion on whether or not collectors should be eliminated completely. You can guess their unanimous answer. Of course, their affirmation of the need for collectors was driven by job preservation, but their other observations were also noteworthy. “…People are happy to see us out there. They need us… We are a checkpoint for people. You know you get to that point and you can ask for directions and somewhere to eat. ”

    The toll collector’s understanding of their value was completely driven by drivers who choose to use the Cash Only Lane. I cannot remember the last time I used the Cash Only lane (except by mistake because I am a terrible driver). From my perspective, that lane is for people who have not heard about Yelp, Google Maps, or who think the government is tracking them through their EZPass. (The government is tracking you, EZPass or not.) I don’t know the numbers, but I would guess the percentage of drivers who prefer the Cash Only lane is smaller than the number of people who agree to let me drive (less than one).

    How many of us do the same thing when we are making decisions about our business? We look at the customers or prospects that have chosen us and make decisions about strategy, growth, and product based on who drove through our lane.

    Then something like Jay’s channel predictions is published, and it’s impactful because it concisely reminds us to venture outside of our booth. Someone who has been on the highway seeing it all lets us know what’s out there beyond our lane. They may not hit every mark (although I am sure Jay is right about what’s coming in the channel in 2020) but whether it’s totally correct doesn’t really matter. The value of a new perspective is that it shakes us out of our comfort zone and makes us look at the world in a new way.

    For me, I was especially moved by number 10 in Jay’s list: The Chief Revenue Officer Takes the Channel Reins — Beyond the Org Chart. It highlights how channel relationships will evolve as the customer experience takes center stage. A partner will touch several stages of the customer journey and therefore more areas of the supplier organization. We built ZiftONE from the ground up to bring the entire supplier/partner ecosystem into a single native platform. Moreover, much like cashless technology is fine-tuning traffic management, Zift’s innovation and R&D investments are optimizing channel sales. marketing, and operations. But far from eliminating industry professionals, we’re elevating them. Those skilled channel pros can focus on strategy and optimization — rather than dealing with manual tasks as ZiftONE lifts the burden of partner recruitment and management, sales enablement, and even learning management with one revolutionary platform for end-to-end enterprise channel management.

    But this specific prediction of Jay’s also challenged me to think about how we can make it even easier for the CRO — or anyone in a supplier organization using an indirect sales model — to get more value out of his/her channel strategy and having actionable data to back it up. And that’s where I see a platform model that eliminates data silos and deepens data insight as so vital for the future of the channel.

    I love channel predictions. Keep them coming! I even have some of my own.  I will keep reading them because they push me out of my comfort zone, which always makes me better. (Except with driving — I will never be better behind the wheel.) 

    The post Toll Takers & the Channel: Are You Seeing the Full CX Picture? appeared first on Zift Solutions.

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    Inside Zift: Meet Channel Leader & Zift’s New CRO Heather Tenuto https://ziftsolutions.com/blog/inside-zift-heather-tenuto/ https://ziftsolutions.com/blog/inside-zift-heather-tenuto/#respond Tue, 17 Dec 2019 19:57:07 +0000 https://ziftsolutions.com/?p=114310 Tell us about your professional journey. What led you to Zift? Heather Tenuto, Chief Revenue Officer for Zift: I started […]

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    Tell us about your professional journey. What led you to Zift?

    Heather Tenuto, Chief Revenue Officer for Zift: I started my career in technology but I was an English major in college and always wanted to be a teacher. After a few good years selling data center infrastructure, I joined a program that let you get your Master’s degree while teaching in a hard-to-staff public school. 

    That program was crazy and awesome. I taught high school English in Manhattan and realized that I enjoyed teaching as much as sales. So when I got out of the program, I moved into sales consultation, where I found success with growth companies who were “too busy selling to change the way they sell.”  It became my tagline and I joined businesses where I could make an impact. 

    In 2007, one of my clients, M5 Networks, convinced me to come on board full time. I made my way to the senior management team and we sold the company in 2012 to ShoreTel. With both M5 and ShoreTel, my role was to optimize revenue. Essentially, I was always asking the question: How do we sell more, faster? That led me to channels and I served as ShoreTel’s Channel Chief for 4 years. During this time, I learned that running a successful program was all about showing return on investment, not only to our business as a supplier, but to the partner community as well. When I learned about how ZiftONE could support these efforts, end to end, and create success for Channel Chiefs and the businesses they worked for, I had to become a part of it.

     

    What do you like best about working with Zift thus far?

    Without question, the people. Zift feels like home to me. The second thing is this: The channel ecosystem is evolving quickly. A solution that takes the complexity out of managing channel programs is game-changing for brands. For every second of overhead we save a partner or supplier, they get to invest more time with the customer, the end-user of the product or service, who has never been more powerful. Suppliers and partners should be spending their time on high-value activities like customer acquisition and customer experience, not fumbling with multiple portals, complicated MDF approval processes, or searching for content. ZiftONE is the first platform that offers that kind of shift for the partner/supplier relationship. 

     

    What are you most excited about in terms of working with Zift, product-wise or culture-wise?

    Unlike our competitors, Zift had the courage and insight to rebuild our platform from the ground-up. Everything a supplier needs to engage partners, drive revenue, and show return on channel investment is NATIVE. This happened because our culture thrives on helping channel companies have successful outcomes. This culture drives our marketing, sales, support and importantly, our product roadmap. When a supplier chooses us for what we are today,  they get to be part of the journey as we evolve with the channel ecosystem. 

     

    With the new decade on us, where do you think the channel is headed in the next five years? 

    1. I mentioned before that buyers have never been more powerful than they are today.  In the next 5 years, we will see suppliers and partners will work more closely together to make sure that the customer sees the value in working with indirect channel partners and how 1+1 can equal 3. 
    2. There will be a lot of pressure on channel chiefs to show a faster return on their company’s channel investment and a huge dependence on tools that will help them get there. When a new channel chief asks me for advice, I tell them, “Whatever it takes, you must become your CFO’s BFF.” (That’s Best Friend Forever.) 
    3. There will be a palpable shift in how customer-facing partners choose suppliers. They will be driven more by successful outcomes for their customers and less by supplier incentives. 

     

    Do you have any thoughts on women in the channel, progress over the last decade, and new opportunities for women to step up?

    This advice could benefit anyone, but especially women: Have a more holistic view of your entire company. Really understand the metrics and the goals, and align your channel strategy with it. Understanding your business, and how it contributes to the overall success of the company is good. Being able to communicate that message early and often is better.  

    The best piece of feedback I ever got from a boss was when I asked him what I would need to do in order to get his job one day. He was SVP of Sales at the time. I expected him to say that I needed to spend more time in the field. He didn’t. 

     “You need to understand the balance sheet better.” He said, “I think you’re lacking a little bit on the finance side.”

    He was right and I knew it.  I went back to school to fix that. The result was a much better relationship with my CFO and more support for our channel efforts.  Like I said before, Channel Chiefs and CFOs = Best Friends Forever. 

     

    Have any questions or thoughts for Heather? Leave a comment below — we’d love to hear from you. 

    The post Inside Zift: Meet Channel Leader & Zift’s New CRO Heather Tenuto appeared first on Zift Solutions.

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