07 - How to Build a Mutually & Equally Beneficial Partner Program

Partner Relationship Management (PRM): The Ultimate Channel Sales Podcast

Mar 8 2022 • 28 mins

Our guest today, Kathleen Phillips, has been in channel-related roles for over 20 years. Her portfolio includes leading teams that have generated more than 100 million dollars in new revenue and successfully launched over 35 disruptive products, solutions and services. Today, she is the Head of Global Partnerships and Strategic Alliances at Digital River.

Topic summary:
The keys to building any relationship where both parties benefit mutually and equally are transparency, commitment and trust. These key concepts should be at the heart of every partner program and every activity in a partner program should lead back to helping flesh out one of these key areas.

They are the building blocks for a mutually and equally beneficial partner program, and how you can use them to build yours is the discussion we’re going to have in this episode of the Ultimate Channel Sales Podcast.

Kathleen discusses how to build a mutually and equally beneficial partner program including:

  • How to show commitment to partners from the start
  • Channel partner training and alignment across the partner organization
  • Shrinking time to revenue and increasing the value of partnerships
  • Partner enablement & incentives
  • Tools for effective partner management

Listen to the episode for Kathleen’s insights on these topics and more.

Read the blog: https://www.magentrix.com/articles/blog/How-to-Build-a-Mutually-Equally-7-4-2022

(0:00) Introduction
(2:21) Kathleen Phillips’ background in channel sales
(3:46) How to show commitment to partners from the start?
(6:40) Channel partner training and alignment across the partner organization
(8:28) Shrinking time to revenue and increasing the value of partnerships
(10:17) Partner enablement - make sure your partner is effectively representing you
(13:47) Partner incentives, spiffs & rewards - what’s the best approach?
(16:45) MDF & co-op marketing
(17:52) Maintaining transparency and trust with partners
(19:41) Dedicated partner account managers vs. a team managing partners
(21:08) Tools for effective partner management
(22:32) What should channel partners do to maintain a mutually beneficial relationship
(23:58) The benefits of a partner portal
(25:10) What results can you expect from following a symbiotic approach?
(26:27) Taking your channel program to the next level
(27:49) Conclusion