Partner Relationship Management (PRM): The Ultimate Channel Sales & Partnerships Podcast

Let us know what you think of the podcast.

In the past year alone: “Partner ecosystems” has become the hottest buzzword in the channel space. Forrester reported an even split between channel, direct, and marketplace revenue.

And that 90% of IT sales will be partner-assisted before, during, and after a sale.

All this to say that the channel looks shockingly different than it did just five years ago.

If a vendor’s channel team fails to jump on this partner ecosystem trend, will they be left behind?

Today’s guest is Balthasar Wyss, the Vice President of Customer Success at MerdianLink - a digital lending platform. He brings years of business development wisdom from both sides of the channel and helped earn VC funding and successful IPOs. 

In this episode, we’re going to:

• Look at how ecosystems affect the channel.
• And what channel leaders can do differently in the ‘age of ecosystems’.

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

The first-of-its-kind report on the state of the partnerships industry. Hear the latest trends in Partner Ops, partner programs, and ecosystem strategy – all from an impressive roster of partnership leaders.

We’ve invited two key contributors, Kelly Sarabyn (Platform Ecosystem Advocate @ HubSpot) and Asher Mathew (Founder @ Partnership Leaders), to discuss their findings and key takeaways. 

On today’s episode, you’ll hear discussion around:

• Insights from vendors leading the world's most successful partner ecosystems 
• What’s to come for partner professionals in the evolving ecosystems space
• What the authors have discovered since publishing this report

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

There’s a simple set of principles the world’s best partnership teams tend to follow and some common dysfunctions that hold many teams back.

Ecosystem thought leader Vince Menzione shares how to spread these five principles throughout your partnerships.

Listen to today’s episode to: 

• Leverage the one communication hack that aligns internal and external teams
• Drive a partnership-first culture throughout your entire company
• And, stand out in saturated markets

Vince Menzione is:

• The Founder of Ultimate Partnerships – a consultancy helping partner organizations drive greater results. 
• And the host of The Ultimate Guide to Partnering podcast

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Some partnerships fail incredibly fast. Some in as few as 30 days.

So, be careful with what you do in the early days of a partnership – as it can set the tone for the rest of the relationship. At the start of the partnership, it’s important to be careful and leave first impressions that can help create partners who are:

• Confident in your brand
• Come forward for support
• And want to promote your product

The attention you pay to partners during this critical timeframe can result in either:

• A positive outlook for a long-term partnership 
• Or, cause your partners to lose interest altogether

Today, we welcome a special guest to help improve your partner retention rates.

He’s a channel partner with a horror story that shows you what not to do and shares tips for vendors on how they can retain their channel partners. Listen to this episode to:

• Learn how to set a standard for retaining channel partners for the long-term
• Discover what aspects of your partner program help and hinder your partners
• And, find out what truly motivates partners to sell more

Guest Bio - Adam Alfi: 

Today’s guest is a multi-preneur with over 25 years experience in the IT space, and a career spanning various roles, including: project management, consulting, and even a stint on Wall Street.

Today, he runs an MSP business – EV Software and Business Solutions – which serves startups and enterprise clients alike. 

(1:46) Guest intro: Adam Alfi

(3:52) Why are the first 30 days so critical when starting a new partnership with a vendor?

(4:41) Textbook example of how to lose a partner in 30 days

(10:21) Some vendors look great on paper, but that’s where it ends. As an MSP owner, what made this partner you mentioned seem like a good partner at the time? What motivated you to sign a partner agreement with them?

(12:06) How can vendors and partners get on the same page from the beginning? What would build confidence in the partnership?

(15:29) Vendors sometimes have different definitions of success than partners. How can partners on both sides align on a shared vision of success?

(17:13) In terms of sales enablement, what helps you understand a vendor solution so you can sell it to your best-fit customers?

(20:15) Do a lot of software vendors lack discovery as part of their onboarding or enablement process?

(22:02) What about training? What's better, one-on-one, or self-guided? How does training play a role in the onboarding process?

(25:41) Opinion on online training or self-guided training (as opposed to one-on-one) - is it useful?

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

It’s no secret, potential partners start scoping you out long before approaching you.

Sure, it’s easy to brush off anonymous complaints as “unimportant”. 

But don’t forget, the channel community is listening.

Today’s episode brings a new perspective on partnerships. We welcome someone representing the other side of the channel: a channel partner, straight from the MSP community.

Listen to this episode to find out:

• How partners vet vendors
• Managing your reputation in the channel community
• Which common practices turn partners off from working with you
• And, as a bonus,
  How to start delivering marketing that adds more value to your partners

Today's guest has been in the tech space for nearly 30 years. For the past 2 decades, he’s been a tech entrepreneur and advocate for open-source software. He maintains a YouTube channel, “Lawrence Systems” has over 258-thousand subscribers where he vlogs on: Tech, IT and, cyber security. And he’s currently the President at Lawrence Technology Services, a Managed Services Provider based in Michigan.  

Read the blog:  https://www.magentrix.com

(0:00) Introduction
(02:34) Why is it important for an MSP to thoroughly vet vendors?
(4:11) Define the MSP community and tell us where you connect with each other?
(5:41) Red flags that can make you stop pursuing a partnership altogether
(8:06) Green flags – Factors that inspire confidence in working with a vendor
(9:33) Cringe-worthy call-outs: Claim # 1 
(11:13) Cringe-worthy call-outs: Claim # 2 
(12:39) Does breaking trust tend to affect vendor reputation forever? Can a vendor come back from breaking trust in the partner community?
(14:57) Things vendors need to start doing to increase transparency overall
(16:12) Pricing and transparency: How should vendors list pricing?
(18:50) Product feature pages are usually written by marketers. How do you ensure that a vendor’s product does what it says it does?
(21:05) Vetting Vendors video reaction
(25:52) How can vendors be as transparent as possible
(26:11) What's the right balance of marketing vendors should do?
(28:09)  At what point in your vendor vetting process do you reach out to engage with them about a potential partnership?
(29:54)  Advice for vendors dealing with issues that are negatively affecting their reputation today
(31:14) Conclusion 

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Partner ecosystems are like ecological ones: when healthy, all connected parts can nurture and support one another. 

• But how do you know if your partner ecosystem is healthy?
• Are there any measurements that can help monitor ecosystem health? 
• And how can you identify deficiencies within your ecosystem before it’s too late?

Norma Watenpaugh shares insights on: 

• How you can sustain a healthy partner ecosystem 
• What you can do to optimize ecosystem health

Today’s guest, Norma Watenpaugh, has been a visionary in the IT world for channel giants like Sun Microsystems, pre-Oracle, Fujitsu, BA Systems, and for the last 20 years, CEO and founding partner of the Phoenix Consulting Group.

She has a laser focus on helping companies achieve profitable results through strategic alliances, channels, and partner ecosystems.

Listen for all of Norma’s insights on maintaining a healthy partner ecosystem. 

Read the blog:  https://www.magentrix.com/articles/blog/Is-Your-Partner-Ecosystem-Healthy-31-8-2022

(0:00) Introduction
(2:30) What is a partner ecosystem?
(4:32) The shift to the ecosystem model 
(6:08) Gauging the health of the ecosystem – how it impacts the success of partnerships
(8:22) Establishing a Partner Ecosystem
(13:17) 1st Thing to Check: Ecosystem strategy 
(18:25) 2nd Thing to Check: Interaction and engagement amongst partners
(22:43) 3rd Thing to Check: Mutual benefits for partners
(23:42) Example of a healthy partner ecosystem 
(25:16) Norma Watenpaugh’s background in partner ecosystems
(26:39) Results to expect from a healthy partner ecosystem 
(27:33) Conclusion 

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

It’s important to find partners that are right for you, but just as important, if not more, is knowing how to make the most of those partnerships. 

One way that can almost guarantee a deep understanding of how to navigate your partnerships and best leverage them is the practice of partner segmentation. That is, segmenting partners within the different markets they service. 

 Manuel Rivera shares insights on: 

• how to identify different partner segments, 
• what you can do to build partners’ strengths, 
• minimize their weaknesses, 
• how to support them, 
• and help them grow to reach your overall goal. 

Our guest today, Manuel Rivera, has been in the channel for over 20 years. He boasts a pretty extensive background in: taking over existing channel programs, understanding the current makeup of the channel partners that are part of those programs, and trying to align those partners with the goals of the organization. Today, he develops and manages the channel sales program of Constella Intelligence as the Vice President Global Channel Sales. 

Listen for all of Manuel’s advice on creating and leveraging strategic channel partnerships. 

Read the blog: https://www.magentrix.com/articles/blog/How-to-Create-and-Best-Leverage-16-6-2022

(0:00) Introduction 
(2:07) Manuel Rivera’s background in channel sales 
(4:11) Benefits of a well-thought out channel partner strategy 
(7:15) Start by selecting the right partners 
(13:55) Leverage partnerships & know where to invest time 
(37:24) Understanding market trends is key for positive growth  
(40:15) Conclusion 

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Our guest today, Hans Peter Bech, has been involved in the channel space for over 3 decades. With more than 25 years in executive roles growing global market shares for information technology companies under his belt, he decided to focus all his energy on strategic business development projects and founded TBK Consult. And as if that wasn’t enough, throughout this time, he has also written not one but 3 published books on channel-related topics. 

Topic summary: 

Channel sales is a great way to reach the end consumer and so you establish a channel. Now, how do you build that channel to be successful? 

What if you’re experiencing great success already but now, how do you expand your channel globally? 

Hans discusses what your channel sales strategy should include: 

1. A clear definition of the goals for your channel from day 1 – what you hope to achieve. Keep goals realistic and be sure to track and measure progress. 
2. A complete channel partner program, defining everything from selecting the best partners to guidelines for partners to expectations from partners. 
3. A plan for managing channel partners and all their ongoing requirements. 

Listen to the episode for all of Hans’ expert tips on building a successful partner channel.

Read the blog: https://www.magentrix.com/articles/blog/3-Expert-Tips-on-Building-a-Successful-5-5-2022

(0:00) Introduction
(2:14) Hans Peter Bech’s background in channel sales
(4:00) Mapping out a channel strategy: how it impacts the success of the channel 
(7:23) Planning for a successful channel: the biggest misconception
(8:39) What makes an exceptional channel partner?
(09:20) 1st Tip: Define goals from day 1
(16:14) 2nd Tip: The channel partners 
(29:19) 3rd Tip: Managing the channel partners 
(36:06) When does building a successful channel pay off?
(37:12) What results can you expect?
(39:09) Conclusion 

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Preparing your channel partners for success involves taking a customized approach, consistent attentiveness and active listening skills. Your work doesn’t end after partner onboarding - it is a continuous effort. Pay careful attention to: 

• discussing and aligning your goals 
• practice transparency 
• and give them a personal experience 

In this episode of The Ultimate Channel Sales Podcast, we bring on Ben Cornett (works with channel partners in a partner marketing capacity, currently directing Verified First’s partner marketing division) who shares his insights on why nurturing channel partnerships is so important, as well as best practices and tips on how to use these insights to uncover untapped channel sales. 

Ben tells us there are two main reasons why nurturing partners is crucial: 

1. First, acquiring new partners to meet your channel sales goals can cost you much more than retaining your current ones. 
2. Second, how your channel partners represent you to customers, and deal with them, ultimately impacts you. So make sure your advocates are well-equipped to represent you and subsequently, make the sale. 

Listen to the episode to hear the rest of Ben’s advice on how you can make the most of your channel partner efforts.

Read the blog: https://www.magentrix.com/articles/blog/How-Nurturing-Partners-is-Crucial-to-28-5-2021 

(0:00) Introduction 
(2:08) Ben Cornett’s background in channel partner marketing 
(6:01) Top 3 best practices for effectively nurturing channel partners 
(10:37) Why it's important to nurture channel partners 
(12:10) How to keep channel partners engaged 
(15:18) Training and education materials for nurturing relationships with channel partners 
(17:53) When to end a channel partnership 
(20:29) Proper nurture methods translate to higher sales and channel growth 
(24:36) Conclusion 

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.

Our guest today, Kathleen Phillips, has been in channel-related roles for over 20 years. Her portfolio includes leading teams that have generated more than 100 million dollars in new revenue and successfully launched over 35 disruptive products, solutions and services. Today, she is the Head of Global Partnerships and Strategic Alliances at Digital River.

Topic summary:
The keys to building any relationship where both parties benefit mutually and equally are transparency, commitment and trust. These key concepts should be at the heart of every partner program and every activity in a partner program should lead back to helping flesh out one of these key areas. 

They are the building blocks for a mutually and equally beneficial partner program, and how you can use them to build yours is the discussion we’re going to have in this episode of the Ultimate Channel Sales Podcast. 

Kathleen discusses how to build a mutually and equally beneficial partner program including: 

• How to show commitment to partners from the start 
• Channel partner training and alignment across the partner organization 
• Shrinking time to revenue and increasing the value of partnerships 
• Partner enablement & incentives 
• Tools for effective partner management 

Listen to the episode for Kathleen’s insights on these topics and more. 

Read the blog: https://www.magentrix.com/articles/blog/How-to-Build-a-Mutually-Equally-7-4-2022

(0:00) Introduction 
(2:21) Kathleen Phillips’ background in channel sales 
(3:46) How to show commitment to partners from the start? 
(6:40) Channel partner training and alignment across the partner organization 
(8:28) Shrinking time to revenue and increasing the value of partnerships 
(10:17) Partner enablement - make sure your partner is effectively representing you  
(13:47) Partner incentives, spiffs & rewards - what’s the best approach?  
(16:45) MDF & co-op marketing 
(17:52) Maintaining transparency and trust with partners 
(19:41) Dedicated partner account managers vs. a team managing partners 
(21:08) Tools for effective partner management 
(22:32) What should channel partners do to maintain a mutually beneficial relationship 
(23:58) The benefits of a partner portal 
(25:10) What results can you expect from following a symbiotic approach? 
(26:27) Taking your channel program to the next level 
(27:49) Conclusion 

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm  See instructions to do so at the end of the episode.

To learn about Magentrix PRM, please visit www.magentrix.com

______

Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content planning, research, & writing Paul's script (with the exception of 3 episodes): Fereshta Nouri
Graphics & Branding: Fereshta Nouri