Enhance channel partner collaboration with innovative tools and technology

 

Good partners are hard to find, hard to keep and require time to develop. Providing the right training and empowering them with information is critical and must be backed by an effective communication program.  In today's evolving scenario, the channel partners should be seen as a true extension of the organization and should be aligned with Company objectives and skills. While the organization makes an effort to empower their partners, they are also responsible for the channel partners' involvement in reciprocating. While this may sound strange, the fact is Channel Partners are not adequately involved in any Brand led program, the onus is on the brand to motive the Partner to engage. Lack of such involvement really means that critical information does not percolate or inaccurate data is passed on, based on which strategic decision are made.

Distributors, stockist and retailers in the supply chain have their own objectives. These may not be aligned with the Company's and will result in them not promoting your offerings as aggressively or effectively as you would want. Having a clear understanding of partner needs and expectations is the first step in reducing misunderstandings and conflict. To make a relationship work, both parties need to have clarity with regards to the benefits of the association, strengths, needs and expectations.

Keeping the chain of activity running smoothly at all times is the most difficult part. Naturally much of the data captured rests with the channel partner. The organization needs to provide compelling reasons to persuade them share more information about a customer and his habits. Channel Partners should be made to be more willing to provide accurate data and insights on customers' purchasing behavior. It's a two way process that also requires empowering the channel partner with the adequate information at the right time by using innovative tools.

Data gaps, quality issues and integrating data have stymied channel managers for decades. Companies need to leverage their advanced data management and analytics capabilities to improve the effectiveness of their partners and encourage them to be more forthcoming with the data collected to create a win-win situation. The data created with each interaction in this value chain is a treasure trove of market intelligence. Mining channel data yields invaluable insights to help the Brand answer critical questions.

Channel partners demonstrate their willingness to share information if they understand how the information will be used and also receive value in return.  Industry leaders are making significant changes to their sales and marketing structures and partner programs to enable data-driven channel management. New data management and business intelligence tools make it easier to aggregate and analyze channel data to take informed strategic business decisions.

Analytics can be used as a measurement for existing engagement, and as a tool for uncovering new engagement opportunities.   The information can also be used when deciding acquisition and retention strategies, where to invest with channel partners, and what products provide the greatest opportunity for revenue in which markets. In this competitive environment it is crucial to create a stronger and more engaged channel relationship to stay ahead of competition.

Ultimately, if you can convert a transactional channel partner into a strategic partner, you have won a group of people who not only sell your products but share their ideas, feedback, and imagination. Strategic partners take an approach that enables them navigate short-terms needs but also operate from a tactical roadmap to enable the high-level long-term vision. Managing strategic channel partners requires operating from a holistic framework that focuses on the relationship itself as much as the output.

Irrespective of the size of the organization, business managers are constantly looking at innovative ideas, tools and technologies to enrich partners. The top enabling factor in a strategic channel partnership relationship is trust. However, trust is a two-way street, partners need to feel that their opinions are factored in and respected. Collaboration builds loyalty in the relationship and strategic alliances produce astonishing results and fills gaps between goals and current capabilities.

(The author is Girish Khare, director, marketing, Grass Roots India. The views are personal.)