A Scoreadcard for your Team
Recently, Channel Mechanics hosted a webinar for vendors interested in making sure their SaaS renewals business through partners is successful. Throughout the discussion, the topic of transparency came up often, with most vendors believing it is essential to let partners know what is expected of them. While at the same time, ensuring partners know what to expect from you, as the vendor.
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Transparency touches many aspects of the vendor – partner relationship. This includes the business value proposition you use when recruiting partners for SaaS renewals business. It extends to the business deal, including “policy” topics such as how you define renewals, how partners work with multiple teams in your organization and with each other. Along with the availability and ease of access to key data. And it’s critical when presenting the details to address two key financial concerns every partner has:
- How can partners make money with SaaS renewal business
- What investments do they need to make
These “nuts and bolts” of the business deal are what this blog is about. It’s aimed at helping vendors assess where they are on the basic “programmatics” of SaaS renewals business so that they can then identify and prioritize where improvements need to be made.
Is a Seperate SaaS Renewals Program Required?
Not necessarily. However, vendors do have better success by setting up a Renewals Program. Creating a separate partner program for renewals depends on a number of factors. These include:
- Partner readiness
- The complexity of your renewals
- Your vulnerability to competitive switch-outs
- The aggressiveness of your competition
- The bandwidth and maturity of your channel organization
Even without a formal program, vendors need to make, implement and communicate, communicate, and communicate some key features of the relationship. Therefore, this short checklist is a good basic tool for your team.
Obviously, there is a lot more detail behind these six basic factors. If you’d like to explore them further, you can refer to our whitepaper series on Sucessful SaaS renewals through partners. Whitepaper two, entitled “Best Practices for Leveraging the Channel” brings together the wisdom and perspective of your industry peers. Our hope is that one day soon, your partners will characterize your relationship with that magic word: transparent!!
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