Date: April 19, 2023
Author: Steven Kellam
Partner Experience (PX) has become a critical factor for success in channel marketing, especially in the technology space. It refers to the experience that channel partners have when working with vendors to market and sell their products or services. A positive PX can lead to increased loyalty, higher sales, and stronger relationships between vendors and their partners. On the other hand, a poor PX can lead to frustration, disengagement and even a loss of partners.
Given the importance of PX in channel marketing, vendors need to prioritize their PX initiatives as part of a robust and effective channel marketing strategy. This is where StructuredWebs’ 5th C – Calculate, comes into play. Calculate refers to the ability to track and measure performance at every point of interaction (POI). This includes interactions between vendors and their channel partners, as well as interactions between channel partners and prospects and end-users. By leveraging data analytics, reporting, and dashboards, vendors can gain insights into what is working and what is not, and adjust their strategies accordingly.
To Calculate is to Continuously Improve
The value of Calculate can be seen in several ways. Firstly, it allows vendors to identify areas of strength and weakness in their PX strategy. By tracking performance metrics such as partner engagement, satisfaction, and loyalty, vendors can gain a better understanding of where they are succeeding and where they need to improve. This can help vendors to make informed decisions around partner training, communication, incentives, and program design, ultimately leading to a better PX for their partners.
Secondly, Calculate allows vendors to understand how their partners are interacting with prospects and end-users. By tracking metrics such as lead conversion rates, deal size, and customer satisfaction, vendors can gain insights into the effectiveness of their channel partners’ sales and marketing efforts. This can help vendors to identify areas where their partners may need additional support or resources, such as training on product features or access to marketing materials. By providing this support, vendors can help their partners to succeed and build stronger relationships.
Thirdly, Calculate can help vendors to measure the ROI of their channel marketing efforts. By tracking metrics such as partner-generated revenue, customer acquisition cost, and lifetime value of a customer, vendors can understand the financial impact of their channel program. This can help vendors to justify their investments in channel marketing and make data-driven decisions around resource allocation.
TCMA is a HUB for Tracking, Analyzing and Calculating
A Through Channel Marketing Automation (TCMA) platform can help track and measure performance at every step in the channel interaction process by providing insights into sales and marketing activities all in one place and all in real-time. By leveraging these essential insights to optimize the sales process and improve the customer experience, you can drive better business outcomes.
- Centralized data management: A TCMA platform can integrate data from multiple sources, including marketing automation, CRM, and other systems. This allows you to centralize your data and get a complete view of your performance metrics.
- Lead Management: A TCMA platform can help you manage leads more effectively by tracking their progress through the sales funnel, including tracking lead sources, lead nurturing activities and conversion rates.
- Campaign management: A TCMA platform can help you manage your marketing campaigns more effectively by providing real-time insights into campaign performance with metrics such as click-through rates, conversion rates and ROI.
- Sales enablement: A TCMA platform can provide your sales team with the tools and resources they need to close deals more effectively by providing access to marketing collateral, sales training and many other resources.
- Performance analytics: A TCMA platform can provide real-time analytics and reporting on key performance metrics such as sales revenue, conversion rates and customer retention. This allows you to monitor your performance at every point of interaction and identify areas for improvement.
- Channel partner management: TCMA helps manage your sales partner ecosystem more effectively by providing them with the tools and resources they need to succeed.
PX is crucial for success in channel marketing, and StructuredWebs’ 5th C – Calculate, plays a key role in improving PX. By tracking and measuring performance at every point of interaction, vendors can gain insights into what is working and what is not, and adjust their strategies accordingly. This can lead to a better PX for channel partners, stronger relationships, increased sales, and ultimately, greater business success.
