Webinar Highlights: How to build Channel/Partner Programs That Work!
Posted by Chip LeBlanc
Momenta hosted a webinar on November 19th looking at the key components necessary in building Channel/Partner Programs That Work!
So much of today’s technology sector is based on complex solution selling - therefore, it comes as no surprise, that there has been an incredible development in the sophistication of channel and partner strategy.
There are various ways on how this can be approached – choices made now will strengthen your company’s competitive position as the crisis subsides and the market accelerates.
This webinar was hosted by Momenta’s Strategy Partners and their guest, Keith Shea, Advisor Corporate Development from Lynx Software Technologies as they discussed the best practices for successfully creating and executing a partner and channel strategy program for Digital Industry.
Here are the top five key takeaways from this webinar:
#1: Use Cases are Critical in the Partner-Eco-System
If you are an early stage company and planning on creating a channel strategy to generate leads, drive incremental revenue and expand market presence, the first step is to establish a few lighthouse accounts, usually sold directly. Proven use cases go very far in helping the potential partner to understand the value impact of a partnership. Potential channel partners do not want to take the risk in introducing and or selling unproven technology to their customers.
#2: You Have to Give to Get
You get out of it what you put into it. Partnerships are a three-way street; you, the partner and the customer - all collaborating together to realize the outcomes and benefits of the solutions.
#3: Set Realistic Expectations
To successfully execute fruitful partnerships, you must be fully committed (time, resources). Stick to the partner strategy plan and set realistic expectations/KPIs for your partners and make sure your leadership is bought in. It takes time to grow and nurture a partnership.
#4: Where do you Start --- Start with the End
Write the end of the story first - so that you can work backwards - the end of the story is the solution and the value that is delivered to the customer. This approach will help you create the supply chain and identify the partner targets that will ultimately deliver the value to the end-user.
#5: Understand the Supply Chain for your Solutions
How do we create the supply chain that will ultimately deliver a solution to our end-user? To do so, you have to understand where your products & services intersect the supply chain as well as the core competencies and key values propositions that differentiate your firm. Furthermore, you have to think about the critical path components, and the collection of players and how they must come together in a certain sequence to successfully deliver value to the end user.
Walk the Flow
For more insights on successful Channel/Partner strategies, we invite you to watch this webinar on-demand! This webinar is for executives from technology firms in Digital Industry who are looking to leverage a partner or channel ecosystem as a force multiplier to scaling their business.
During this webinar we discussed:
Top five reasons partner strategies fail
Key questions to consider when creating a Partner/Channel GTM strategy
Best practices in assessing and testing a Partner/Channel GTM strategy
Momenta helps industrial players digitize their business. We’re the guiding hand behind leading industrials’ IoT strategies, over 200+ IoT leadership placements, and 40+ young IoT disruptors. Schedule a free consultation to discuss how we can help you take your business to the next level.