improve partner engagement
- Increased partner knowledge and capability per your products, your value, your strategy, your competitive advantages, etc.
- Improved loyalty
You want your channel partners to be productive, of course, but you should look at getting them engaged as a critical precursor to productivity. Indeed, some channel pros apply their incentivization strategy just to the end result (revenue) and ignore the foundational steps of getting their channel partners engaged with them. This leaves their channel partners vulnerable to being “cherry-picked” by competitors. You should monitor and Incentivize partners’ engagement levels in any and all forms they interact with you.
Determine the partners or group of partners which you want to include in your engagement incentive program – for example, all Gold partners, Silver Partners in Europe, or partners of a particular size (say, between $10 million and $50 million in revenue).
Determine how many points to award a partner for various types of engagement – for example, training classes taken and completed, event attendance and participation, partner portal utilization, and incentive program participation. Points for each should be relative to how good each behavior is as a proxy for engagement.
Set up your outcome rule. For the program time period, calculate the total number of training classes completed and in progress; the number of attendees to your events; portal logins and downloads; and the number of – and optionally the goal level reached – of incentive programs participated in. Allocate points accordingly.
More engaged partners – For many channel professionals, getting – and keeping – their channel partners engaged is the holy grail. Or looked at from the opposite perspective, NOT engaging partners is their bane. Why? Because engaged partners are more knowledgeable partners, which makes them more productive partners. Moreover, engaged partners are more loyal partners – you can count on them for the long term in terms of finding new opportunities and growing revenue.