13 - How Not to Lose a Channel Partner in 30 Days: Partner Retention Tips

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

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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 brand
• Come forward for support
• And want to promote your product

The 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 altogether

Today, 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-term
• Discover what aspects of your partner program help and hinder your partners
• And, find out what truly motivates partners to sell more

Guest 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

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
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Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Kapitler

1. 13 - How Not to Lose a Channel Partner in 30 Days: Partner Retention Tips (00:00:00)

2. Guest intro: Adam Alfi (00:01:46)

3. Why are the first 30 days so critical when starting a new partnership with a vendor? (00:03:52)

4. Textbook example of how to lose a partner in 30 days (00:04:41)

5. 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? (00:10:21)

6. How can vendors and partners get on the same page from the beginning? What would build confidence in the partnership? (00:12:06)

7. Vendors sometimes have different definitions of success than partners. How can partners on both sides align on a shared vision of success? (00:15:29)

8. In terms of sales enablement, what helps you understand a vendor solution so you can sell it to your best-fit customers? (00:17:13)

9. Do a lot of software vendors lack discovery as part of their onboarding or enablement process? (00:20:15)

10. What about training? What's better, one-on-one, or self-guided? How does training play a role in the onboarding process? (00:22:02)

11. Opinion on online training or self-guided training (as opposed to one-on-one) - is it useful? (00:25:41)

12. Partner enablement resources: Content types that really help you sell a product? (00:28:56)

13. Vendors engaging with partners via social media (00:32:50)

14. Importance of timeliness of vendor responsiveness and bad experiences (00:33:36)

15. Importance of trust with vendors and registering opportunities on a vendor's partner portal (00:34:06)

16. Preventing channel conflict: What a vendor should do when they see two partners attempting to register the same opportunity in the partner portal (00:36:37)

17. Do partner incentives motivate you to engage with a vendor? (00:38:52)

18. With regards to vendor partner programs, has there been anything that appealed to you in particular? Or, has anything immediately turned you off from participating in a program? (00:41:05)

19. What is the most important thing vendors can do to help partners succeed in the first 30 days? (00:44:28)

20. Vendors should expect nothing? (00:45:36)

21. Conclusion (including how to reach Adam Alfi) (00:47:12)