partner relationship management (prm)

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

•  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 landscape

For 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-MrpM

Then 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:

1. Aaron Howerton from Atlassian on why partners don’t want to log into your partner portal and other current challenges partners face with PRMs
2. Rob Rebholz, CEO of Superglue on how to create better partner experiences and drive portal adoption
3. Paul 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 it
   • What Magentrix is doing to enable you with partner engagement tools both inside AND outside the portal
   • And how Magentrix has pioneered AI-powered PRMs and is leading the way to an AI-powered future in partner management tech

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

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 you sell a product?

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

(33:36) Importance of timeliness of vendor responsivene

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

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

Our guest today, Kathleen Phillips, has been in channel-related roles for over 20 years. Her portfolio includes leading teams that have generated more than 100 million dollars in new revenue and successfully launched over 35 disruptive products, solutions and services. Today, she is the Head of Global Partnerships and Strategic Alliances at Digital River.

Topic summary:
The keys to building any relationship where both parties benefit mutually and equally are transparency, commitment and trust. These key concepts should be at the heart of every partner program and every activity in a partner program should lead back to helping flesh out one of these key areas. 

They are the building blocks for a mutually and equally beneficial partner program, and how you can use them to build yours is the discussion we’re going to have in this episode of the Ultimate Channel Sales Podcast. 

Kathleen discusses how to build a mutually and equally beneficial partner program including: 

• How to show commitment to partners from the start 
• Channel partner training and alignment across the partner organization 
• Shrinking time to revenue and increasing the value of partnerships 
• Partner enablement & incentives 
• Tools for effective partner management 

Listen to the episode for Kathleen’s insights on these topics and more. 

Read the blog: https://www.magentrix.com/articles/blog/How-to-Build-a-Mutually-Equally-7-4-2022

(0:00) Introduction 
(2:21) Kathleen Phillips’ background in channel sales 
(3:46) How to show commitment to partners from the start? 
(6:40) Channel partner training and alignment across the partner organization 
(8:28) Shrinking time to revenue and increasing the value of partnerships 
(10:17) Partner enablement - make sure your partner is effectively representing you  
(13:47) Partner incentives, spiffs & rewards - what’s the best approach?  
(16:45) MDF & co-op marketing 
(17:52) Maintaining transparency and trust with partners 
(19:41) Dedicated partner account managers vs. a team managing partners 
(21:08) Tools for effective partner management 
(22:32) What should channel partners do to maintain a mutually beneficial relationship 
(23:58) The benefits of a partner portal 
(25:10) What results can you expect from following a symbiotic approach? 
(26:27) Taking your channel program to the next level 
(27:49) 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

Our guest today, Autum Grimm, is not only an innovator, but also a pioneer, in a division of the channel space that had been left completely unexplored before the birth of her company. Today, she is responsible for revenue, demand generation, operations and business development as CRO at PartnerTap, a leading enterprise Partner Ecosystem Platform that allows companies to automate account mapping, control data shared with each partner, and enable sales teams to cross-sell with partners. 

Topic summary: 

Growth of your partnerships can sometimes take a direction that may demand a new set of requirements to keep your partners engaged. 

Dealing with any unforeseen situations can best be avoided by planning early & carefully, and regularly checking in with partners and tracking efforts. 

Take care of your partners and your partners will take care of you. This, is how you truly reap long-term benefits for years to come. 

Autum shares the 3 best kept secrets to creating long-term revenue streams within the channel: 

1. Build strong relationships with your channel partners 
2. Have a winning channel strategy 
3. Track and measure success with your channel partners 

Listen to the episode for all of Autum’s insights on achieving success within the channel. 

Read the blog: https://www.magentrix.com/articles/blog/3-Best-Kept-Secrets-to-Creating-16-2-2022

(0:00) Introduction 
(2:16) Autum Grimm’s background as a channel leader 
(2:43) What do organizations need to consider if creating long-term revenue through partnerships is their end-goal? 
(3:04) Secret #1: Build strong relationships with your channel partners 
(5:29) Secret #2: Have a winning channel strategy 
(10:46) Building loyalty and engaging channel partners 
(13:55) Enabling partners to meet their goals 
(15:54) When to give up on an unsuccessful partnership 
(18:39) Secret #3: Track and measure success with your channel partners 
(26:31) Invest in yourself as a channel professional 
(27:48) 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

Our guest, Tan Tran has been in the channel space for nearly a decade now and throughout this time, he has left an imprint on many partners’ channel sales efforts. Today, he is a Channel Development Manager at SAP Concur. 

Topic summary: 

Your channel partners’ devotion to engaging with your brand depends on your approach to your partners: 

• Do you provide them with personalized experience and do you go above and beyond to provide them with everything they need? 
• What do you do to set yourself apart from the other vendors they work with?  
• What do you do to keep yourself top-of-mind for your channel partners? 

And lastly, how far along in the future do you plan for when it comes to managing your channel partnerships? The relationship management of channel partners has evolved and future channel programs may not be the same as they are today. 

All this makes it crucial to know how to best engage your channel partners so that you can create a bond they won’t soon forget and ultimately, get the most out of your partnerships. 

Tan shares 3 little-known ways to engage channel partners: 

1. Define the opportunity with channel partners 
2. Commit to a cadence with them 
3. Ensure visibility and transparency 
4. (Bonus) partner relationship management (PRM) systems 

Listen to the full episode for all of Tan’s tips on channel partner engagement.

Read the blog: https://www.magentrix.com/articles/blog/3-Little-Known-Ways-to-Engage-Your-12-7-2021

(0:00) Introduction 
(2:13) Tan Tran’s background in channel sales 
(4:49) Have a solid partner engagement strategy 
(6:57) Little-Known Way 1: Define the opportunity with channel partners 
(8:29) Little-Known Way 2: Commit to a cadence with channel partners 
(12:13) Little-Known Way 3: Ensure visibility and transparency for channel partners 
(14:14) Helping partners uncover new streams of revenue 
(20:58) (Bonus) Little-Known Way 4: Partner relationship management (PRM) systems 
(23:00) What happens if you don’t engage partners? 
(26:46) Follow these best practices for a faster ROI 
(28:39) 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

Our guest, Steve Kazan is an award-winning channel chief in the channel space for over 27 years now, who has developed quite a repertoire of transforming and elevating channel programs. Today, he is the founder & CEO of Inner Onion, LLC, a company that builds alliances with international technology companies that want or need representation in the United States. 

Topic summary: 

Your channel partners’ success with you can be determined in various stages. The most important of these stages is the beginning and what you do to set the foundations to attain your channel sales goals. Pay careful attention to practicing transparency early on and giving partners a personal experience. 

Steve shares with us his 4 best practices to lay the foundations for your channel program: 

1. Show your channel partners you’ve done the homework - show them a plan 
2. Establish strong and committed partner relationships 
3. Create a brand 
4.  Pick great tools & technology 

Listen to the episode to hear all of Steve’s insights on how to start channel partnerships off right.

Read the blog: https://www.magentrix.com/articles/blog/4-Best-Practices-to-Lay-the-Foundations-30-9-2021 

(0:00) Introduction 
(1:54) Steve Kazan’s channel sales background 
(2:50) Inner Onion’s mission & history 
(4:30) Best practice 1: Show your channel partners you’ve done the homework - show them a plan 
(13:44) Best practice 2: Establishing strong and committed partner relationships 
(18:44) Best practice 3: Branding 
(22:53) Best practice 4: Tools & technology 
(26:40) Challenges when not following these best practices 
(28:11) Generate higher revenue and company value 
(31:00) 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

Whether it’s a tech stack involving multiple technologies or just a single platform, having tools to manage your channel sales is a part of forming a channel strategy not to be overlooked. 

There are a number of things to consider when selecting the tools you should use for managing your channel sales. You want to make sure the tools you select are suitable for the job and provide the performance and functionality you expect. 

And once you’ve figured that out, you’ve got to decide which tools or technologies to actually utilize – no easy feat considering the multitude of options out there. 

In this episode of The Ultimate Channel Sales Podcast, we bring on Jonathan Deveaux. He has had a successful career driving business growth through partnerships for nearly a decade. From developing strategic partnerships to roles focusing on partner enablement and partner marketing, today he is the VP of Global Alliances and Partnerships at Comforte AG. 

Jonathan discusses how to select the right platform to manage your channel sales including: 

• Best practices for selecting a channel management platform 
• When is a solution necessary for channel management? 
• Which organizations should adopt a channel management tool? 
• Top challenges alleviated by a stellar channel management platform 
• How channel management platforms increase partner engagement 

Listen to the episode where we’ll discuss these topics and more. 

Read the blog: https://www.magentrix.com/articles/blog/How-to-Select-the-Right-Platform-to-4-5-2022

(0:00) Introduction 
(1:57) Jonathan Deveaux’s background in channel sales 
(4:09) Best practices for selecting a channel management platform 
(7:30) When is a solution necessary for channel management? 
(9:28 ) Which organizations should adopt a channel management tool? 
(11:46) Top challenges alleviated by a stellar channel management platform 
(14:55) How channel management platforms increase partner engagement 
(20:13) Top 3 benefits of an excellent channel management platform 
(25:57) Pitfalls of not having a channel management platform 
(28:42) Look for a channel management platform that benefits other parts of your organization 
(30:49) 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

Welcome to The Ultimate Channel Sales Podcast hosted by Paul Bird! The discussions in this podcast explore various channel management topics relating to channel strategy, current practices for optimizing your current channel sales from today’s experienced channel chiefs, industry insider tips to managing your channel partners, and much more. 

As the head of sales at a partner management portal provider, Paul is in an advantageous position to glean specific, multifarious insights on channel management. To date, Paul has accumulated over 24 years of experience working in both ends of the channel - that is, both building partnerships as a channel chief and working with vendors as a channel partner. Listen to this short introductory episode to familiarize yourself with the sort of content you can expect from our podcast and to learn more about the host, Paul, and his expertise on the subject matter.

(0:33) Paul's sales background 
(1:30) Paul's channel sales experience
(3:25) Podcast overview 

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