In today’s complex channel ecosystem, winning partner mindshare can sometimes feel like an uphill struggle for vendors. The solution? A Partner Performance Dashboard! So, what’s holding you back from making the move from PowerPoint to a Partner Performance Dashboard?
The benefits that channel professionals are gaining from Partner Performance Dashboards were revealed in our webinar “Partner Performance Dashboards for Tomorrow’s Channel Ecosystem”. Channel Mechanics VP of Sales, John McArdle, was joined by Jeremy Butt, SVP, International & Strategic Alliance Partners at RingCentral, Balaji Subramanian, Global Channel Chief, SVP Channel Sales at IGEL, and Channel Mechanics’ CEO Kenneth Fox. The discussion centered around how a Partner Performance Dashboard can be a valuable tool for winning the hearts and minds of partners….and why it outshines PowerPoint every day of the week!
4 Reasons Why Partner Performance Dashboards Outshine Powerpoint
1. Improved Visibility
If the average partner works with between seven and 12 vendors, that means absorbing and understanding seven to 12 partner programs, as well as all the resources and communication involved. It is a thankless task, so the easier it is for the partner to see all that information, the better. Whereas with a Partner Performance Dashboard, a picture can tell a thousand words.
“You have a Partner Performance Dashboard where in one picture they can see ‘what are my targets? How am I doing against these targets? What if I did more, what’s the benefit for me?’ Delivering that visually really helps,” explained Fox. This also allows vendors to gain competitive advantage and win partner mindshare.
2. Driving Long-Distance Relationships
Butt noted that the challenge of maintaining mindshare was exacerbated during the pandemic, when it wasn’t possible to meet partners in person.
“The ability to provide one internal and external lens – things on which you can agree – are even more important. Coming out of lockdown, I’m not sure that people are going to go back to traveling as much as they used to,” said Butt.
Vendors have learned that once they have established relationships with partners, it’s much easier to drive them remotely. Thus, it has become increasingly important for dashboards, deal registration, promotions and programs to be easy to understand, implement and operate.
3. More Productive QBRs
Partner Performance Dashboards also make quarterly business reviews (QBRs) more productive, and easier to plan. This goes a long way towards making partners’ lives easier.
“I have a partner advisory council that meets every quarter,” said Subramanian. “We ask them how they’re doing against their revenue and training goals. Are they earning any rebates? Are they using their MDF appropriately? This allows us to be much more engaged”.
He explained that by having a Partner Performance Dashboard in place, channel sales managers can focus on a particular partner, bring up the dashboard and go through everything. This results in consistency, ease of doing business and increased loyalty, as a result of real time engagement.
4. Ease of Doing Business
Another key benefit of Partner Performance Dashboards is ease of doing business. “You want to have your partner get up every morning, thinking about you.” said Subramanian. “To achieve this, you must make sure you are easy to do business with. Make sure it’s easy to remember your programs, access any assets or tools you provide, and make sure it’s consistent”.
By ensuring you are easy to do business with partners will naturally gravitate towards you, and as a result, become more loyal.
Want to learn more on Partner Performance Dashboards? Contact our team today and implement your Dashboard tomorrow.
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