Gartner has advised technology vendors to plan customised marketing programs for their channel partners as a way to maximise loyalty and the real revenue potential of their resellers.
In a report "Marketing Essentials: How to communicate with channel partners", the analyst firm has provided a guide - based on a given partner's revenue - for the development of an effective program.
According to Gartner, providers that "execute a single communications plan across all of their partners are missing out" on revenue opportunities. Over longer periods of time, partners might choose to take their business elsewhere and align with another vendor.
"If tailored communications, online and offline is not something you're doing today, you need to start - and start now," Tiffani Bova, research vice president at Gartner has warned.
"Recognising your most valuable partners in your communications is one of the most cost effective retention activities you can undertake.
Gartner has advised that vendors ease into custom communications and has recommended a communications plan to help organise tools and initiatives.
Steps to take
Gartner believes revenue performance is an appropriate method for categorisation of partners for the purpose of communications and specified share of wallet (SOW) rating. SOW is the percentage of the partner's revenue that goes toward the vendor's brand.
For example, if a vendor currently makes up $500,000 of a partner's $1 million revenue pie, the vendor earned 50 percent share of their total wallet.
Gartner recommended putting priority on partners with the highest SOW, however, those with low wallet share yet high revenue contribution, or partners enrolled in "grow a market" programs should be managed as exceptions.
"Channel managers should be able to ascertain a partner's past sales data. You can ask them to provide you the information during business planning sessions or executive briefings," said Bova.
After building your spreadsheet, you will want to score each partner in some way in order to categorise them appropriately."
Once partners have been segmented, communications should be tailored to recognise and what the partner is contributing today.
Bova said vendors should recognise partners as "individuals versus general members of a larger, almost faceless community managed by existing tools."
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