Ensuring Your Partner Program Works Well
Channel vendors build partner programs for several reasons. First, it can help you, the vendor, get in front of the MSP community with a compelling story. By establishing a strong presence and reputation among MSPs, you can drive word-of-mouth referrals and attract partners who are eager to work with you.
Secondly, a partner program allows you to scale revenue effectively. Instead of relying solely on your sales team to acquire direct clients, you can leverage MSPs who already have established client bases. This approach enables you to reach a larger audience and generate more sales through your partners.
69% of channel partners polled said that a dedicated MSP program improves their relationship with vendors, according to a study by Canalys in January 2024. Additionally, MSPs generated $219 billion in total managed service revenue in 2023, with almost 80,000 partners delivering those services. These statistics highlight the opportunity with MSPs and the significant impact a well-structured partner program can have on your business.
By building a world-class MSP partner program, you can create a thriving ecosystem that supports your partners’ growth while driving your own revenue and market presence.
Let’s dive into 5 essential tips to improve your partner program and accelerate channel revenue.
1. Clearly Outline Partner Program Benefits and Incentives
Think of your program like a college football team recruiting top talent—you need to make it attractive for MSPs to join. Clearly outline the benefits and incentives of your vendor partner program, including:
- Product discounts
- Internal-use licenses
- Enablement resources
- Market development funds
Be transparent about the “gives and gets” of your program. A well-structured offer helps attract and retain top-tier partners who are committed to driving revenue.
2. Simplify the Sales Process to Acquire New Partners
Simplifying the sales process is crucial for acquiring new partners. This involves making it easy for your sales team to understand the partner program and engage with MSPs.
Ensure your internal teams:
- Understand the program and how to position it when talking to MSPs
- Have the right tools to effectively recruit and onboard new partners
- Streamline the onboarding process to shorten the sales cycle
By making the process seamless, partners can activate quickly and begin selling to their clients without unnecessary delays.
3. Provide a Top-Notch Enablement Journey
Once you’ve brought new partners on board, it’s important to provide them with a top-notch, clearly defined enablement journey. This means offering comprehensive and multi-channel training and support across business units to help them get up to speed quickly with your products and services. Key areas of MSP enablement should include marketing, sales, product, and finance.
A structured enablement process ensures that partners are ready to market, sell, implement, and support your offerings immediately.
4. Help Partners Go to Market and Activate Their Client Base First
Helping your partners go to market and activate their existing client base is a critical aspect of building a successful MSP partner program. This involves providing them with the resources and support they need to effectively promote, sell, and deploy your solutions to their clients.
By actively working with partners on their first sales and implementations, you drive faster adoption and long-term success.
5. Develop a Two-Pronged Approach to Channel Marketing
Developing a two-pronged approach to channel marketing can significantly enhance your partner program’s effectiveness. This means not only focusing on driving leads to your sales team to recruit new partners but also helping your partners market and drive awareness of your solutions to their clients.
By supporting your partners’ marketing efforts, you can create a robust and scalable program that benefits both sides.
Bonus Tip
Your solutions are the lynchpin of your partner program. No amount of incentives or enablement support will matter if your solution doesn’t work well.
Your offering must be:
- Reliable and easy to deploy
- Profitable for partners
- Aligned with MSP business models
Conclusion
In conclusion, building a world-class MSP partner program requires a strategic approach that focuses on a great solution, clear communication, simplified processes, comprehensive enablement, and strong marketing support. By implementing these essential tips, you can improve your existing partner program, accelerate your revenue, and create a thriving partner ecosystem.
Len DiCostanzo is the CEO of MSP Toolkit.
Images: iStock
