11 - Is Your Partner Ecosystem Healthy? Check These 3 Things Immediately

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

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

We dissect the past year's partnership trends and forecast what's on the horizon for 2024. Join our guests, Rob Spee & Vince Menzione as we dive into topics such as:

• co-selling
• partner programs
• partner relationship management
• marketplaces
• resellers
• the impact of AI on channel sales
• 2024 predictions (and reviewing our 2023 predictions 😁)

(01:08) Guest Intros
(01:30) Co-selling has continued to be a bigger focus area – any notable observations around this?
(02:47) Canalys’ “Co-sell Tech Matrix” report
(03:59) Co-sell impact on hyperscalers?
(04:59) Traditional resellers in favor of selling in marketplaces - trend in 2023?
(07:26) Vendors using marketplaces to co innovate and co sell
(10:21) How have partner programs changed in 2023?
(12:53) Any new KPIs that you've noticed that vendors are focusing on?
(15:59) Trends with partnership technology and the partner tech stack
(18:09) Gen AI: Standout technologies helping partnership leaders?
(20:02) PRMs are not dead
(21:09) Partner-driven revenue: observations & updates
(24:58) Do you think there's still an issue with partner attribution?
(26:22) A review of the predictions we made last year: Vince's predictions
(28:24) A review of the predictions we made last year: Rob's predictions
(29:49) Predictions for 2024: Vince's predictions
(31:20) Predictions for 2024: Rob's predictions
(33:26) Predictions for 2024: Magentrix's predictions
(35:40) Paul on Gen AI as a channel opportunity
(36:38) Rob on AI, partner experience and PRM
(40:24) Rob's final thoughts for partnership professionals as they head into 2024
(41:14) Vince on the one consideration partnership professionals should be mindful of as they head into 2024

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

Paul Banco makes the case for why leadership buy-in is critical. Drawing from decades of experience, Paul explains how partner alignment, executive involvement, and presenting a clear vision are key to gaining leadership support.

He also outlines how to get executives on board, involve them in shaping the strategy, and secure their ongoing commitment.

Hear insights on overcoming challenges, evaluating metrics, and maintaining commitment during difficult times.

Chapter markers:
(01:19) Guest Intro
(03:33) How do you suggest partnership leaders within the organization communicate the importance of partner programs to their C-Level leaders who may not see the value?
(04:56) Getting internal support to run a partner program
(05:58) What's the role of support from C-level executives in a partner program
(08:07) What are some more specific parts of the strategy one should focus on when setting the stage in attempting to convince leadership? Should a compelling value proposition for recruitment of potential partners be a top consideration?
(09:27) What about technology platforms, collaboration tools, or dedicated personnel for partner management. Is it important to have all that figured out before attempting to get your leadership on board?
(10:30) How do you think support from C-level can influence decision-making when it comes to a partnering strategy?
(12:00) Once you get the leadership to commit and support the partner program, what do you think they can do to foster a culture of collaboration and get the whole team on board to support the partnerships dept within the organization?
(13:28) What other ways would you recommend for leadership to contribute to the growth and development of their partnerships?
(15:11) What metrics or key performance indicators should C-Level leaders focus on when evaluating partner program success?
(17:22) What’s involved in maintaining a long-term commitment to partner programs, even during challenging times? How can we prepare for such a situation?
(20:04) How do we convince the C-level to keep faith in the original vision for the partner program?
(22:05) What about the partner experience – how does strong C-level support affect the partners themselves? What benefits might the partners experience when this backing is present?
(23:10) Can you share a specific example of a vendor’s partner program that benefited significantly from the backing of high-level leaders in their company?
(25:46) What is the most essential element for setting the direction of your partner program and ensuring it continues operation for a long time to come?

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

Our guest, Dorian Kominek, realized the pursuit of partnering and partner programs was in need of a foundational framework.

So she has set out to work on changing the minds of partnering organizations to rethink their approach to partner program development.

Guest bio:
From Channel Manager, to Strategic Partnerships Manager, to Head of Partnerships, Dorian has spanned the partnerships arena for some years before deciding to make an interesting contribution to those who have established partner programs, or are planning to establish one.

She’s here with us today to discuss key ideas from her dissertation: Channel Partner Program Development As An Entrepreneurial Pursuit.

Find the dissertation here:
https://partnershiphero.ca/#research?ref=mgx-pd-bzspt

Or check out Dorian's YouTube channel here: https://youtube.com/@InnovationSensation?si=cM0WVttV1UqN-aRf

Chapter markers:

(01:00) Guest intro
(06:20) How to attain organizational alignment for supporting channel partner program development as an entrepreneurial venture
(08:34) Best practices for development of a channel partner program in accordance with entrepreneurial literature
(11:04) Embracing entrepreneurial thinking to foster innovation for partner program development
(13:02) Work discretion, autonomy for the partnership person you hire & trusting them
(13:47) Not enough financial support is one or budgetary support. But also time is a huge one
(14:59) Rewards and reinforcements: If you're hiring an entrepreneurial person, you need to reward them
(16:11) Serving partners as we do customers + aspects of the partner experience (PX)
(18:25) Survey results & the most commonly cited entrepreneurial factors necessary for success
(20:41) Role of partner segmentation in the partner experience
(22:55) Role of empathy in creating a partner program
(24:50) Partner programs, as an entrepreneurial venture, and the value to partners
(26:10) Type of partners to target in the partner program
(27:50) Key resources required to run a successful channel program
(29:35) What impact do you hope this report will leave on organizations with partner programs?
(31:21) 67% of partner professionals say their biggest challenges are internal at their organization

----

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

Paul appears on an episode hosted by Vince Menzione. They, along with Rob Spee, explore the dynamics of partnerships and ecosystems, channel marketing, and the pivotal role of the chief partner officer. Other subjects include ecosystem attribution, channel alignment, partner marketing strategies, and the rise of AI adoption. 

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® podcast

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

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..pdf

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

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 experience
• Exploring 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 partners
• Working 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

______

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

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® podcast

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

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 Alignment
• The Necessity of Investment
• The Inevitability of Conflict
• The Struggle of Differentiation
• The Demand for Constant Evolution

Today’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 thrived
• Is 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 relations
• Most 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

______

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

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 PartnerFuel
Our 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 leadership
• to fractional marketing support
• to program design

He can do it all.

For the video version of this episode, see here https://youtu.be/0uuiLbmBSXo

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