The 3 Best Ways to Boost Global Partner Performance
Building relationships and improving global partner performance is a struggle for every type of business. Depending upon your partner locations, this might be a bigger hurdle than you can win by traditional marketing methods. That’s especially true when language barriers are in place. Consider the robust selection of incentive methods available today when brainstorming how to generate the warmth and trust needed to influence sales.
Check out the three following essentials for expanding your reach and building partner loyalty.
Grouping and Segmenting Channels Helps to Increase Performance
International partnerships are tricky to navigate. Not only do languages cause barriers, but cultural and market differences do too. Your products might even see different uses in one country versus another.
To create effective campaigns, first you have to investigate the unique qualities of your partners. Taking the time to complete this step is the most important part of working with international businesses. Understanding your partners’ differences and similarities helps to group them and devise a strategy for stimulating growth.
For instance, in many countries it is customary for business partners to pad one another’s ego before selling begins. Knowing this ahead of time allows you to create the perfect content for establishing initial contacts for new campaigns. In the United States, we often put the first emphasis on pain points, but in many cultures, mutual respect must be in place first for business owners to trust any solution you bring to the table.
With trends moving away from salesman-to-buyer relationships and focusing evermore on online recommendation and referrals, being able to establish rapport digitally is a growing challenge. Over 61 percent of B2B buyers now say third-party review sites and the like hold more sway than speaking with a company representative. Through grouping and tailoring messages to fit the needs of your partners, you’ll give yourself a leg up when it comes to impacting partner performance.
Sharing the Information Needed for Increasing Global Partner Performance
On a practical level, having training programs available 24-7 in many languages ensures your partners will be able to learn about new products whenever they have time in their schedule. Motivation to learn is another problem entirely. You can use competition to stir up interest – pit partners against one another in achieving levels of certification or points they can use for buying token branded items. Gamification goes a long way in creating the natural desire for learning.
On the other hand, acknowledging a partners’ efforts and asking for feedback packs a hearty punch. It is a way to impact knowledge while learning more about your partners’ specific needs. Showing you care about their individuality and recognizing the work they’re putting in to understand your brand will build strong bonds between you.
You can package these opportunities in ways that fit seamlessly into a partners’ world. Mobile applications, quizzes, personal emails and the creation of online professional groups where all members share and seek answers are ideas proven successful for partners that span international lines. Getting information out to all your channels is essential, so use whatever means necessary. In a recent study, 92 percent of executives said effective training of existing partnerships was the key to increasing repeat sales and boosting global partner performance.
Rewarding Partner Loyalty While Increasing Performance
In July 2017, Microsoft effectively leveraged incentives to stimulate performance among their Cloud Solution Providers. In short, they passed along the total value of certain products to their partners. It was a show of appreciation and good faith for a market where small companies and large enterprises often clash.
In addition, Microsoft rolled out new incentives based on their customers’ use of cloud services, not just the number of new accounts created. This shift soon moved to Oracle and IBM, demonstrating significant changes throughout the tech industry. It increased revenue, but it also provided motivation for increasing customer engagement.
Whether or not this change affects you, you can adopt the idea when creating incentives for your own channels. Look for ways you can increase your partners’ influence in certain areas, incentivize these activities to motivate your partners to invest in them, and you will build strong working relationships while building up both of your bottom lines.
Increasing global partner performance is a top priority for any business that relies on other B2B salesforces to push their product to the consumer market. By nurturing those partners and helping their businesses grow, you increase your own reach in their regions. Bolster their influence, and you’ll create the kind of relationships that last a lifetime.
Contact our team at LoyaltyWorks today to learn more about how to boost global partner performance.