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

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Preparing your channel partners for success involves taking a customized approach, consistent attentiveness and active listening skills. Your work doesn’t end after partner onboarding - it is a continuous effort. Pay careful attention to:

• discussing and aligning your goals
• practice transparency
• and give them a personal experience

In this episode of The Ultimate Channel Sales Podcast, we bring on Ben Cornett (works with channel partners in a partner marketing capacity, currently directing Verified First’s partner marketing division) who shares his insights on why nurturing channel partnerships is so important, as well as best practices and tips on how to use these insights to uncover untapped channel sales.
Ben tells us there are two main reasons why nurturing partners is crucial:

1. First, acquiring new partners to meet your channel sales goals can cost you much more than retaining your current ones.
2. Second, how your channel partners represent you to customers, and deal with them, ultimately impacts you. So make sure your advocates are well-equipped to represent you and subsequently, make the sale.

Listen to the episode to hear the rest of Ben’s advice on how you can make the most of your channel partner efforts.
Read the blog: https://www.magentrix.com/articles/blog/How-Nurturing-Partners-is-Crucial-to-28-5-2021

(0:00) Introduction
(2:08) Ben Cornett’s background in channel partner marketing
(6:01) Top 3 best practices for effectively nurturing channel partners
(10:37) Why it's important to nurture channel partners
(12:10) How to keep channel partners engaged
(15:18) Training and education materials for nurturing relationships with channel partners
(17:53) When to end a channel partnership
(20:29) Proper nurture methods translate to higher sales and channel growth
(24:36) Conclusion

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm See instructions to do so at the end of the episode.
To learn about Magentrix PRM, please visit www.magentrix.com
______
Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Bernhard Friedrichs (PartnerXperience) joins us to share his wealth of knowledge on crafting a partner journey that fosters collaboration and drives capital-efficient growth.
He takes us through the nuances of treating partners as equals, not customers, and the importance of transparency and trust throughout the partner lifecycle. From recruitment to onboarding, and beyond, discover the strategies that can turn a good partner experience into an exceptional one.
We'll explore:

• PartnerXperience's four C's of partner qualification: Customer Base, Credibility, Capability, and Commitment
• The impact of technology on PX, including PRM platforms like Magentrix
• How to measure the ROI of a superior partner experience
• The playbook for capital-efficient growth through strategic partnerships

Bernhard's insights are not just for partnership veterans but also for CEOs and founders looking to weave partnerships into their business model. If you're aiming to future-proof your partnerships and ensure they're more than just transactions, be sure to have a listen.
(01:00) Guest intro: Bernhard Friedrichs, PXP
(04:36) Key elements of a good partner experience (PX and how they influence the overall success of a partnership
(07:28) How does a seamless and user-friendly partner experience contribute to the efficiency of partner onboarding and ongoing collaboration?
(10:44) Well-designed partner experience, partner loyalty and long-term commitment to a vendor's program
(12:09) Preliminary elements or considerations that need to be in place before your efforts with PX can even have a chance to be effective
(16:17) Partner recruitment & setting a potential partner up for a great PX - The 4 Cs
(21:07) How a positive PX contributes to the overall brand perception and reputation of a vendor within the partner ecosystem
(22:13) Role of partner technology in shaping and enhancing the partner experience + how vendors can leverage it effectively
(25:29) Personalization in the partner experience
(27:04) Strategies for enhancing and evolving the partner experience to meet changing partner expectations: Embrace complexity
(28:13) Measuring & quantifying the ROI of investing in a superior PX in a partner program
(31:21) What is Capital Efficient Growth? (PXP's Playbook)
(34:00) How integrations help provide a better user experience, not just for the vendor’s customers, but for partners too
(36:21) Bernhard's key takeaway for vendors from the CEG playbook
(37:00) The one thing to know for creating an unforgettable partner experience that can future-proof the partnership
(37:35) Conclusion

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm See instructions to do so at the end of the episode.
To learn about Magentrix PRM, please visit www.magentrix.com
______
Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

It’s important to find partners that are right for you, but just as important, if not more, is knowing how to make the most of those partnerships.

One way that can almost guarantee a deep understanding of how to navigate your partnerships and best leverage them is the practice of partner segmentation. That is, segmenting partners within the different markets they service.

Manuel Rivera shares insights on:

• how to identify different partner segments,
• what you can do to build partners’ strengths,
• minimize their weaknesses,
• how to support them,
• and help them grow to reach your overall goal.

Our guest today, Manuel Rivera, has been in the channel for over 20 years. He boasts a pretty extensive background in: taking over existing channel programs, understanding the current makeup of the channel partners that are part of those programs, and trying to align those partners with the goals of the organization. Today, he develops and manages the channel sales program of Constella Intelligence as the Vice President Global Channel Sales.

Listen for all of Manuel’s advice on creating and leveraging strategic channel partnerships.

Read the blog: https://www.magentrix.com/articles/blog/How-to-Create-and-Best-Leverage-16-6-2022

(0:00) Introduction
(2:07) Manuel Rivera’s background in channel sales
(4:11) Benefits of a well-thought out channel partner strategy
(7:15) Start by selecting the right partners
(13:55) Leverage partnerships & know where to invest time
(37:24) Understanding market trends is key for positive growth
(40:15) Conclusion

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm See instructions to do so at the end of the episode.
To learn about Magentrix PRM, please visit www.magentrix.com
______
Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Our guest, Heather K. Margolis has been in the channel space for over 20 years. She helps channel organizations build smarter channel programs, manage channel relationships to find added value, and engage their communities through social and traditional media. Starting from positions such as Channel Marketing Executive and Director of Marketing and Alliances and later, going on to be founder and chairperson at Channel Maven Consulting and founder and CEO at Spark Your Channel (both now acquired by 360insights), she has carved quite the name for herself in the channel world.
Topic summary:

At the heart of every channel program are your channel partners. They represent you, they are in direct contact with the customer and carry your reputation for you – which they can either elevate or tarnish, largely depending on the quality of training they get from the vendor they’re working with.
So why is that so often they are left neglected? Why aren’t channel chiefs prioritizing support to channel partners? Why aren’t they paying more attention to developing better partner enablement tools, such as optimized training programs to better meet their needs or start even earlier with a comprehensive, dedicated partner onboarding process?
Partner engagement is key to your channel success and the best recipe for ongoing engagement is ongoing attention and support from the vendor.
Heather discusses a question all channel chiefs should be asking: are your channel partners getting the attention they need? And what can you do to give them the attention they deserve:

1. Channel partner training, support and feedback
2. Eliminate barriers – allow for better integration of partners into your channel
3. Be more present, mindful and inspire channel partner engagement

Listen to the episode to hear all of Heather’s insights on partner engagement and support for channel success.
Read the blog: https://www.magentrix.com/articles/blog/Are-Your-Channel-Partners-Getting-the-18-11-2021
(0:00) Introduction
(2:57) Heather K. Margolis’ channel sales background
(5:13) Channel partners need ongoing attention from vendors
(6:45) 1st Consideration: Channel partner training, support and feedback
(22:11) 2nd Consideration: Eliminate barriers – allow for better integration of partners into your channel
(29:13) 3rd Consideration: Be more present, mindful and inspire channel partner engagement
(30:57) Will channel partners leave if you’re not paying mind to their needs?
(34:08) Channel chiefs need to think differently about their partner programs
(35:04) Conclusion

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm See instructions to do so at the end of the episode.
To learn about Magentrix PRM, please visit www.magentrix.com
______
Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

How does a private equity firm’s takeover typically impact a company's strategic direction and how can it affect their channel partner program?

Sometimes, channel partner programs get the axe when a PE firm takes over.

In today’s episode, we’ll:

• explore this issue,
• investigate the underlying reasons,
• and discuss strategies to protect your channel program from being eliminated during a PE takeover.

Chapter markers:
(01:02) Guest Intro: David Sherman
(04:09) How a PE firm’s takeover typically impacts a company's channel partner program
(07:42) Common reasons investment firms cancel or restructure a partner program
(08:47) Performance metrics evaluated by private equity firms
(09:40) What metrics should PEs really be analyzing?
(12:09) How important is it for private equity to enhance the partner program
(14:26) Potential risks of canceling a channel program could bring to customer relationships?
(15:58) PEs that keep the partner program post-takeover - maintenance strategy for them?
(17:11) Most important aspects of partner management to you that can help a channel chief prove out the channel program to the PE
(22:11) What can typically go wrong with channel program with M&A as opposed to private equity takeover

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm See instructions to do so at the end of the episode.
To learn about Magentrix PRM, please visit www.magentrix.com
______
Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri