Solid channel partnerships are based on the ability to collaborate with ideal partners. But finding channel partners and landing the right deal is easier said than done. And when you don’t invest in building these relationships, your partners may leave and become new competitors.

How do you find channel partners who can improve your partner programs and create more financially beneficial partnerships? In this post, learn about several tech companies that have scaled growth through their partnerships. Then, read about three ways you can build strong channel partnerships. 

Real ROI of Using Partnerships to Scale Growth

Several notable tech companies have achieved significant ROI by leveraging their partner relationships to scale growth. Take a look:

• Atlassian's ecosystem includes more than 700 channel partners, which account for one-third of the company’s business.
• For Microsoft, 95% of its commercial revenue flows directly through the company’s partner ecosystem.
• Shopify’s channel strategy generated over $6.9 billion.
• TrialPay, which was acquired by Visa in 2015, grew from zero to 10,000 clients in just two years. 
• For Zoom, about 40% of the company’s business in Japan is owed to its channel partners.

Now, see how you, too, can attract channel partners and show them the advantages of a partner program to grow revenue.

3 Ways to Build Strong Channel Partnerships

By creating a network of channel partners, you reach customers and markets you couldn’t connect with alone. You just need to find your channel partners, integrate them into your partner program, and show them how you can win together. 

1. Identify and Reach Out to Your Potential Partners

Find technology partners who align with your company’s revenue goals. Outline your partner-specific objectives, define how you intend to achieve them, and then keep track of them.

When recruiting partners, look for ones with the right product mix to complement your products. Also, check whether your partner can represent an unserved region.

Craft relevant, helpful content for your target persona. Creating appropriate marketing messages pulls potential partners into the funnel so you can connect with the ones that are a good fit.

Channel partners want content from thought leaders. So, build a diverse content library to help you become an industry expert. It also puts you in a better position to connect with prospective partners. 

Also, learn about your channel partners’ target customers and end users. Your partners must clearly understand whether a partnership with you will result in a mutually profitable relationship.

2. Define Your Partner Program

Convey the unique selling points of your partner program to new prospects. Further, collaborate with your channel marketing team to refine promotional messaging and structure pricing details, particularly on your company’s website.

Have your channel managers set up channel sales success metrics to measure partner program success and keep partner objectives transparent. Clarify any misunderstandings and set expectations from the start. If your goals change, revisit and adjust them. 

Anticipate your prospective partners’ questions and keep your responses readily available on the following topics:

• Commission structure
• Growth opportunities for greater revenue share
• Additional perks partners can expect outside of revenue goals
• Onboarding and training process
• Ways to promote partners 
• Estimated time commitment

3. Show Your Partner Program Advantages

A successful partner program helps channel partners sell more effectively, expands their product range, and increases profits. Your partner program can be a key selling point for your products if you provide proper training and sales enablement content.

The following advantages help partners see value in your partner program: 

• Offer reliable, feature-rich, and user-friendly cloud solutions for partner portfolios.
• Provide resources and training—including product knowledge videos, how-tos, sales and marketing collateral, and FAQs—to help partners succeed in a competitive landscape. 
• Track partner success and reward partners for their wins. 

Create New Avenues for Revenue

A superior partner program makes onboarding, monitoring, and managing relationships with your partners easier. Healthy partner relationship management has the following advantages:

• Expands partners’ cloud offerings.
• Offers sales enablement and training.
• Addresses end-client needs.
• Motivates partners toward common revenue goals. 

Reap the full benefits of partnerships by finding the right partners, establishing partnership objectives, and setting up guidelines.

To augment your partner program, get Zomentum PartnerAlign. Streamline and simplify how your partners buy SaaS solutions and give them the latest marketing content. And, automate sales and license management for greater efficiency. With PartnerAlign, your partners glide smoothly through the sales process to close deals so they can focus on creating new revenue opportunities. That’s what we call “partner-led growth.”

Adopt a partner-first channel strategy. Apply to join PartnerAlign. 

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