Channel Marketing Strategy Best Practices
Align marketing and channel goals
You can define the success of your partnership using factors such as active, new, and engaged partners and channel revenue. They should be the foundation of your partner's marketing plan. This way, you can align your marketing and channel goals and better invest your association's resources. Tracking dollars spent on marketing and improving partner production gives insight into where to invest. When there are partnerships that go across countries, working well together with the local channel manager and vendors from large companies is the key to success and production.
Decide baselines and metrics
For your channel marketing campaign, set appropriate baselines and look for relative performance improvements, as campaign-level ROI measurements can be challenging. Metrics such as partner adoption of assets and content created, and partner metrics on lead generation can be tracked using PRM tools. Email metrics and leads generated are other metrics that can help you measure the success of your partner's marketing plan. The final metric should be the end-user satisfaction rate because it directly translates to a low churn rate.
Become an income marketer
Invest your time customizing and spinning your high-quality, professional-grade content assets for your sales organization and channel partners. This can help you tap into the potential ROI of each of your content pieces. Over time, it can make a significant contribution to your marketing performance. Impactful content is greatly enhanced with channel marketing. By using it to target members, you can gain a share of member sentiment and create revenue opportunities that you might otherwise have missed. You can combine this type of soft marketing with the hard marketing that C-Suite prefers.
Map partner performance
Be sure to map individual partner performance in your evaluations to gain insight into what's working in your partner program and which partner strengths you can trust and focus on. See how many deals are being closed through the channel and how many new opportunities are coming in through your partners. If a partner isn't doing much for the program, that partner is probably stretching their resources. Take note of how your new partners perform in your channel marketing campaign over a given period to see what they're doing for you and partner revenue.
Keep your 'Until' and 'Until' sorted
When you look at your partner side, your goal is to generate leads and market qualified leads from a angle. You're also considering the cost per lead, what the partner converted or lost, and why the partner came to you or didn't. As for the direct angle, its only point of analysis is the customer engagement and satisfaction that the partner has achieved through the partnership. Make sure you know why some partners are more successful than others, how many campaigns are running through your platform, and how many of your partners are active on your PRM platform. Once you know what you need to look at from both angles, you'll be in order and able to execute your marketing strategy effectively.
Integrate engagement into your program
Commitment is key to any partner alliance. Incorporating engagement through partner marketing can enhance your channel partner program. You need to plan, train, and collect feedback on your "to" and "through" channel marketing tactics. Some ways to integrate participation in channel partnership programs are:
- Creating marketing campaigns combined with product training to improve lead tracking
- Partner Marketing to Drive Thought Leadership
- Transparent communications with partners
- Partner advisory boards that focus on sales and marketing
- Quarterly feedback surveys to improve partner marketing processes
- Executive sponsorship for key partners.
Constantly improve your strategy
Look for improvements to your channel marketing strategy by referencing your baselines and other KPIs. Measuring baseline commitments will not only help you improve your strategy, it will also shed light on potential issues that can impede progress and growth. Keep an eye on what partner revenue numbers look like, what kind of demand generation content they're leveraging, what webinars or events they're attending, and if they mention you on their social media. Any big drop in numbers or engagement will help you redirect your efforts to what's causing the sudden change.
wrapping it up
A channel association is a type of give-and-receive association. To get the most out of it, you need to focus on marketing strategies targeting your partners and end customers. Improve your association by planning, reaffirming the objectives of the association, renewing your marketing strategy from time to time, and winning the mindset of the members.
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