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

Kelly Sarabyn and Asher Mathew are here with us today to discuss key insights from their latest report: The State of Partner-Led Growth Report.This new report promises to shed light on: The power of partner-led growth strategies, Showcasing real-world success stories, Lots of interesting partnerships insights from sales and marketing leaders, And tips to drive business growth through partnerships. To get a better understanding of the implications of the insights they've uncovered, we delve into the specifics behind the results from the report.Link to the report: https://www.hubspot.com/hubfs/The%20State%20of%20Partner%20Led%20Growth%20Report%202023..pdfThis 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

It's not enough to just have partners – understanding them and tailoring the experience to their needs can truly set apart a great partnership from a good one. This episode will cover: Practical Strategies for improving your partner experienceExploring ways to better understand your partners And discussing the potential impact these strategies can have on your overall channel performance.Lindsey Traub brings expertise from: Working on partner programs and operations at Magento – where achievements included: significant strides in enabling partnersWorking at Adobe, as Head of Operations Strategy for Adobe Exchange DX, managing and launching a new ISV partner program that combined the Magento, Marketo, and Adobe partner programs, serving more than 1,000 partners in the process.She also served as the Director of Programs and Partnerships at Cart.com and built the company's partner program from the ground up. 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

Today’s partner ecosystem: fueled by hyperscalers, sold in marketplaces, and delivered through the channel. What can we expect of the partner experience in light of this new ecosystem model?We discuss this and more on today's episode with our Channel Panel members: Rob Spee of Channel Journeys podcast And Vince Menzione of the Ultimate Guide to Partnering® podcastThis 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

Growing and managing a channel is not without its pitfalls and harsh realities. These uncomfortable truths, often kept under wraps, can hamper the growth and success of your channel strategies if not confronted head-on.Some of these uncomfortable truths include:The Challenge of AlignmentThe Necessity of InvestmentThe Inevitability of ConflictThe Struggle of DifferentiationThe Demand for Constant EvolutionToday’s guest will share their experiences, insights, and strategies to turn these uncomfortable truths into powerful levers for success. About the guest - Barb Huelskamp:Has experienced these realities firsthand, survived, and thrivedIs a powerhouse in the world of global strategy and partner sales.is an award-winning Global Channel Executive, recognized by CRN Power 100, and made significant strides in technology, cloud, and software markets – from growing revenues, to orchestrating complex business transformations, and optimizing partner relationsMost recently, she served as the Senior Vice President of Global Partners & Alliances at Alteryx 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

In this episode, we will explore the key benefits and strategies of partner marketing, and provide practical tips and advice on how to optimize your partner marketing efforts.Partner marketing provides a unique opportunity for businesses to leverage the strengths and resources of their partners to enhance their marketing efforts, reach new audiences, and drive revenue growth. Guest bio: Ben Wright of PartnerFuelOur guest today is one of the most visible members within partnership communities today.  If you’re active within partnership posts on LinkedIn, you may have noticed him regularly commenting and leaving helpful tips. After working in partnerships roles such as Director of Partnerships and Business Development, Strategic Partnerships, at a Senior Manager & Director Level,  he quickly embraced a specialization within this space. He set out on his own to help partnership teams overcome their partner marketing challenges at PartnerFuel. From:Fractional leadershipto fractional marketing supportto program designHe can do it all.For the video version of this episode, see here https://youtu.be/0uuiLbmBSXoThis 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

 The current state and future of partner portals (do we even need them?)Partner engagement challenges: How partner management tech is changing to meet partners where they already are (outside the portal) Hear about what other partner tech providers are doing to meet expectations partners have in the current landscapeFor a video version of this episode, see here: https://www.youtube.com/watch?v=5FkPi5I5wdI  The conversation started on these threads. We’ll be addressing the major points brought up by others from these threads https://www.linkedin.com/posts/adampasch_partnerships-partnerexperience-partnersuccess-activity-7039629574317490176-vIDU and https://www.linkedin.com/posts/aaronhowerton_partnerexperience-prms-activity-7039950524846067713-MrpMThen we decided to give it a bigger platform to continue the discussion since these have been long-circulating thoughts in the partnerships space.Hear insights from:Aaron Howerton from Atlassian on why partners don’t want to log into your partner portal and other current challenges partners face with PRMsRob Rebholz, CEO of Superglue on how to create better partner experiences and drive portal adoptionPaul Bird, Head Portal Wizard at Magentrix on:the root causes behind a lack of partner engagement with your portal and what you can do about itWhat Magentrix is doing to enable you with partner engagement tools both inside AND outside the portalAnd how Magentrix has pioneered AI-powered PRMs and is leading the way to an AI-powered future in partner management techThis 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

Aligning your channel sales  team with your direct sales team can be a great way to maximize your business's potential. This episode will provide an overview of how to align the two.In addition to tips and techniques to help you navigate this tricky situation, we will cover topics such as: the importance of communication and collaboration between the two teamscreating a unified sales strategyand the benefits of having a cohesive sales effort. 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

Hyperscaler marketplaces are having a significant impact on channel sales. By providing customers with access to cloud-based services, hyperscaler marketplaces have become an increasingly popular way for customers to purchase IT services. This has led to a shift away from traditional channel sales, as customers are now able to purchase what they need directly from the cloud provider. As a result, channel partners must focus on providing value-added services and support in order to remain competitive in the market.Our guest today, Tim Lowe, is the Director of Partner Ecosystem for the South East at the world leader of enterprise open source solutions at Red Hat.Watch the video version here. 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

Take a listen to the latest episode of the Ultimate Channel Sales Podcast and hear two MSPs share their experiences and perspectives on managing their channel, from the channel partner's point of view. They share their strategies for success, the challenges they've faced, as well as their advice for other MSPs. Tune in to get an inside look at how channel partners manage their channel!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

In today’s episode, we’re bringing on a world-renowned professional who has been a long-standing expert in the partnerships industry, to discuss the most recent trends in partner ecosystems practices, as well as predictions for 2023, and a general forecast of what we should expect in the evolution of the partnerships space with regards to ecosystems.Today's guest is Jay McBain. Jay is the chief analyst of “channels, partnerships & ecosystem” at Canalys – a market analyst firm with a distinct channel focus.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

We’ve brought together three hosts from three different podcasts in the partnerships space to review key insights and trends noticed in the past year from interviews with channel chiefs, partnership leaders and in the overall partner ecosystem landscape.Rob Spee is a seasoned and experienced channel and alliance executive. He has created and executed channel strategies and programs ranging from start-up mode businesses, all the way to a $350M business. Today he’s SVP of Global Channel & Alliances at BeyondTrust as well as the host of the long-running Channel Journeys podcast – a podcast where you can “hear channel experts share authentic stories of their channel victories, defeats, and lessons learned along the way.”Vince Menzione is the Founder of Ultimate Partnerships – a consultancy helping partner organizations drive greater results. And the host of another impressively long-running podcast, The Ultimate Guide to Partnering podcast.Paul Bird is the host of Magentrix PRM's The Ultimate Channel Sales Podcast - where he regularly has discussions on how to navigate partnerships, how to support your partners, identify weak areas of your partner strategy, discuss the latest industry trends and reports, and more.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

In the past year alone: “Partner ecosystems” has become the hottest buzzword in the channel space. Forrester reported an even split between channel, direct, and marketplace revenue.And that 90% of IT sales will be partner-assisted before, during, and after a sale.All this to say that the channel looks shockingly different than it did just five years ago.If a vendor’s channel team fails to jump on this partner ecosystem trend, will they be left behind?Today’s guest is Balthasar Wyss, the Vice President of Customer Success at MerdianLink - a digital lending platform. He brings years of business development wisdom from both sides of the channel and helped earn VC funding and successful IPOs. In this episode, we’re going to:Look at how ecosystems affect the channel.And what channel leaders can do differently in the ‘age of ecosystems’.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

The first-of-its-kind report on the state of the partnerships industry. Hear the latest trends in Partner Ops, partner programs, and ecosystem strategy – all from an impressive roster of partnership leaders.We’ve invited two key contributors, Kelly Sarabyn (Platform Ecosystem Advocate @ HubSpot) and Asher Mathew (Founder @ Partnership Leaders), to discuss their findings and key takeaways. On today’s episode, you’ll hear discussion around:Insights from vendors leading the world's most successful partner ecosystems What’s to come for partner professionals in the evolving ecosystems spaceWhat the authors have discovered since publishing this reportThis 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

There’s a simple set of principles the world’s best partnership teams tend to follow and some common dysfunctions that hold many teams back.Ecosystem thought leader Vince Menzione shares how to spread these five principles throughout your partnerships.Listen to today’s episode to: Leverage the one communication hack that aligns internal and external teamsDrive a partnership-first culture throughout your entire companyAnd, stand out in saturated marketsVince Menzione is:The Founder of Ultimate Partnerships – a consultancy helping partner organizations drive greater results. And the host of The Ultimate Guide to Partnering podcastThis 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

Some partnerships fail incredibly fast. Some in as few as 30 days.So, be careful with what you do in the early days of a partnership – as it can set the tone for the rest of the relationship. At the start of the partnership, it’s important to be careful and leave first impressions that can help create partners who are:Confident in your brandCome forward for supportAnd want to promote your productThe attention you pay to partners during this critical timeframe can result in either:A positive outlook for a long-term partnership Or, cause your partners to lose interest altogetherToday, we welcome a special guest to help improve your partner retention rates.He’s a channel partner with a horror story that shows you what not to do and shares tips for vendors on how they can retain their channel partners. Listen to this episode to:Learn how to set a standard for retaining channel partners for the long-termDiscover what aspects of your partner program help and hinder your partnersAnd, find out what truly motivates partners to sell moreGuest Bio - Adam Alfi: Today’s guest is a multi-preneur with over 25 years experience in the IT space, and a career spanning various roles, including: project management, consulting, and even a stint on Wall Street.Today, he runs an MSP business – EV Software and Business Solutions – which serves startups and enterprise clients alike. (1:46) Guest intro: Adam Alfi(3:52) Why are the first 30 days so critical when starting a new partnership with a vendor?(4:41) Textbook example of how to lose a partner in 30 days(10:21) Some vendors look great on paper, but that’s where it ends. As an MSP owner, what made this partner you mentioned seem like a good partner at the time? What motivated you to sign a partner agreement with them?(12:06) How can vendors and partners get on the same page from the beginning? What would build confidence in the partnership?(15:29) Vendors sometimes have different definitions of success than partners. How can partners on both sides align on a shared vision of success?(17:13) In terms of sales enablement, what helps you understand a vendor solution so you can sell it to your best-fit customers?(20:15) Do a lot of software vendors lack discovery as part of their onboarding or enablement process?(22:02) What about training? What's better, one-on-one, or self-guided? How does training play a role in the onboarding process?(25:41) Opinion on online training or self-guided training (as opposed to one-on-one) - is it useful?(28:56) Partner enablement resources: Content types that really help you sell a product?(32:50) Vendors engaging with partners via social media(33:36) Importance of timeliness of vendor responsiveness and bad experiences(34:06) Importance of trust with vendors and registering opportunities on a vendor's partner portal(36:37) Preventing channel conflict: What a vendor should do when they see two partners attempting to register the same opportunity in the partner portal(38:52) Do partner incentives motivate you to engThis 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

It’s no secret, potential partners start scoping you out long before approaching you.Sure, it’s easy to brush off anonymous complaints as “unimportant”. But don’t forget, the channel community is listening. Today’s episode brings a new perspective on partnerships. We welcome someone representing the other side of the channel: a channel partner, straight from the MSP community.Listen to this episode to find out:How partners vet vendorsManaging your reputation in the channel communityWhich common practices turn partners off from working with youAnd, as a bonus, How to start delivering marketing that adds more value to your partnersToday's guest has been in the tech space for nearly 30 years. For the past 2 decades, he’s been a tech entrepreneur and advocate for open-source software. He maintains a YouTube channel, “Lawrence Systems” has over 258-thousand subscribers where he vlogs on: Tech, IT and, cyber security. And he’s currently the President at Lawrence Technology Services, a Managed Services Provider based in Michigan.  Read the blog:  https://www.magentrix.com(0:00) Introduction(02:34) Why is it important for an MSP to thoroughly vet vendors?(4:11) Define the MSP community and tell us where you connect with each other?(5:41) Red flags that can make you stop pursuing a partnership altogether(8:06) Green flags – Factors that inspire confidence in working with a vendor (9:33) Cringe-worthy call-outs: Claim # 1  (11:13) Cringe-worthy call-outs: Claim # 2  (12:39) Does breaking trust tend to affect vendor reputation forever? Can a vendor come back from breaking trust in the partner community?(14:57) Things vendors need to start doing to increase transparency overall(16:12) Pricing and transparency: How should vendors list pricing?(18:50) Product feature pages are usually written by marketers. How do you ensure that a vendor’s product does what it says it does?(21:05) Vetting Vendors video reaction(25:52) How can vendors be as transparent as possible(26:11) What's the right balance of marketing vendors should do?(28:09)  At what point in your vendor vetting process do you reach out to engage with them about a potential partnership?(29:54)  Advice for vendors dealing with issues that are negatively affecting their reputation today(31:14) 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

Partner ecosystems are like ecological ones: when healthy, all connected parts can nurture and support one another. But how do you know if your partner ecosystem is healthy?Are there any measurements that can help monitor ecosystem health? And how can you identify deficiencies within your ecosystem before it’s too late?Norma Watenpaugh shares insights on: How you can sustain a healthy partner ecosystem What you can do to optimize ecosystem healthToday’s guest, Norma Watenpaugh, has been a visionary in the IT world for channel giants like Sun Microsystems, pre-Oracle, Fujitsu, BA Systems, and for the last 20 years, CEO and founding partner of the Phoenix Consulting Group.She has a laser focus on helping companies achieve profitable results through strategic alliances, channels, and partner ecosystems.Listen for all of Norma’s insights on maintaining a healthy partner ecosystem. Read the blog:  https://www.magentrix.com/articles/blog/Is-Your-Partner-Ecosystem-Healthy-31-8-2022(0:00) Introduction(2:30) What is a partner ecosystem?(4:32) The shift to the ecosystem model (6:08) Gauging the health of the ecosystem – how it impacts the success of partnerships(8:22) Establishing a Partner Ecosystem(13:17) 1st Thing to Check: Ecosystem strategy (18:25) 2nd Thing to Check: Interaction and engagement amongst partners(22:43) 3rd Thing to Check: Mutual benefits for partners(23:42) Example of a healthy partner ecosystem (25:16) Norma Watenpaugh’s background in partner ecosystems(26:39) Results to expect from a healthy partner ecosystem (27:33) 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

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

Our guest today, Hans Peter Bech, has been involved in the channel space for over 3 decades. With more than 25 years in executive roles growing global market shares for information technology companies under his belt, he decided to focus all his energy on strategic business development projects and founded TBK Consult. And as if that wasn’t enough, throughout this time, he has also written not one but 3 published books on channel-related topics. Topic summary: Channel sales is a great way to reach the end consumer and so you establish a channel. Now, how do you build that channel to be successful? What if you’re experiencing great success already but now, how do you expand your channel globally? Hans discusses what your channel sales strategy should include: A clear definition of the goals for your channel from day 1 – what you hope to achieve. Keep goals realistic and be sure to track and measure progress. A complete channel partner program, defining everything from selecting the best partners to guidelines for partners to expectations from partners. A plan for managing channel partners and all their ongoing requirements. Listen to the episode for all of Hans’ expert tips on building a successful partner channel. Read the blog: https://www.magentrix.com/articles/blog/3-Expert-Tips-on-Building-a-Successful-5-5-2022(0:00) Introduction(2:14) Hans Peter Bech’s background in channel sales(4:00) Mapping out a channel strategy: how it impacts the success of the channel (7:23) Planning for a successful channel: the biggest misconception(8:39) What makes an exceptional channel partner?(09:20) 1st Tip: Define goals from day 1(16:14) 2nd Tip: The channel partners (29:19) 3rd Tip: Managing the channel partners (36:06) When does building a successful channel pay off?(37:12) What results can you expect?(39:09) 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

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: First, acquiring new partners to meet your channel sales goals can cost you much more than retaining your current ones. 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