35 - How to PE Takeover-Proof Your Channel Program - David Sherman

Let us know what you think of the podcast.Carolyn April discusses: the state of the IT channel, research availability, the impact of AI, the importance of quality over quantity in vendor-partner relationships and what to expect at ChannelCon. She also shares exciting details about the upcoming ChannelCon event in Atlanta. As well as taking us through her journey in the tech industry, highlighting significant shifts such as the move from hardware reselling to cloud computing and the current buzz around AI.📽️ To watch the video of this podcast, please see here. --------------References: ChannelCon 2024 is happening on July 30 - August 1, 2024 in Atlanta, GA. To learn more about ChannelCon, please visit their website here.--------------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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.How does a private equity firm’s takeover typically impact a company's strategic direction and how can it affect their channel partner program?Sometimes, channel partner programs get the axe when a PE firm takes over.In today’s episode, we’ll: explore this issue, investigate the underlying reasons, and discuss strategies to protect your channel program from being eliminated during a PE takeover.Chapter markers:(01:02) Guest Intro: David Sherman(04:09) How a PE firm’s takeover typically impacts a company's channel partner program(07:42) Common reasons investment firms cancel or restructure a partner program(08:47) Performance metrics evaluated by private equity firms(09:40) What metrics should PEs really be analyzing?(12:09) How important is it for private equity to enhance the partner program(14:26) Potential risks of canceling a channel program could bring to customer relationships?(15:58) PEs that keep the partner program post-takeover - maintenance strategy for them?(17:11) Most important aspects of partner management to you that can help a channel chief prove out the channel program to the PE(22:11) What can typically go wrong with channel program with M&A as opposed to private equity takeoverThis 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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.Have you ever heard of a fractional channel chief? This is a concept that's shaking up the industry, and we had the privilege of delving into it with Kameron Olsen, a leading expert with over 15 years of experience.So, what exactly is a fractional channel chief? Unlike a full-time in-house channel leader, a fractional channel chief offers their seasoned expertise to multiple companies, but only for a fraction of their time. This approach allows businesses to benefit from top-tier channel knowledge and experience without the full-time investment. It's a perfect solution for companies looking to dip their toes into the channel waters or needing to revamp their existing channel strategies.(See here for the video version of this episode https://youtu.be/ALnjOa-ABgw?si=X4XIg-YbzFpkC2wt)(01:02) Guest intro: Kameron Olsen(01:47) Highlights in your career in the channel thus far(04:29) How hiring a fractional channel chief differs from in-house + shortage of the role(06:01) Typical responsibilities and scope of work for a fractional channel chief(08:06) Most enjoyable part about the role of a fractional channel chief(09:15) Potential conflicts of interest or competing priorities channel chiefs may have to navigate when working with multiple clients(09:52) When is it more advantageous for a company to hire fractional channel chief vs. in-house employee?(11:58) Being thrown into a channel role for the first time & how to figure it out(14:04) The disillusion of hiring an inexperienced channel manager that you don't provide training to(14:54) Advice for companies that want to hire a fractional channel chief for the first time + steps to take(17:08) Steps for suppliers to ensure successful partnerships(18:10) Partner management tech stack recommendations to vendors(20:03) Customized recommendations partner management tech stack for each vendor(22:50) How to keep track of the partner experience aspect & increase likelihood of partner engagement & what mature partner programs might do(25:53) Do fractional channel chiefs have deeper insights than in-house channel chiefs?(27:20) Tips for organizations to nurture successful partnerships(28:56) How the role of a fractional channel chief may evolve (will there be a shortage?)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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.How does one begin to integrate AI into their partner programs? Alden Hultgren provides practical advice, from mapping out automation opportunities to designing partner experiences that are not just functional but delightful. She envisions a future where digital workers become integral to partnership teams, streamlining processes and freeing up human talent to focus on strategic initiatives. Her mantra? Dream big — the technology is ready for you.(00:32) Guest intro: Alden Hultgren(03:27) Alden on growing a $1MM partnerships practice to $25MM(05:16) Strategies Alden used at Salesforce to grow their partnerships beyond $100 MM(07:21) Alden's tools for partner management(09:29) GenAI: Reshaping traditional channel partnership roles(11:36) Strategic approach to gen AI for partnership professionals + skills do you believe will help partnerships professionals survive & thrive within the gen AI landscape(13:06) Gen AI's affect on longevity in a career in partnerships(13:56) Conversational AI Orchestration Platform & its role in partnerships(15:58) Gen AI digital workers' role in partnerships(18:22)  Designing digital workers in partnerships & optimizing the experience for partners(20:11)  Digital workers: who's done it well(22:01)  Strategies for integrating gen AI into partner programs to create value-added services(24:05)  Challenges related to the rapid evolution of Gen AI technology(25:03)  Can Gen AI help with the partner experience?(27:05)  Alden on most significant achievement with gen AI in partnerships(28:25)  What vendors need to keep in mind as they leverage Gen AI for partnerships in the near futureThis 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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.Bernhard Friedrichs (PartnerXperience) joins us to share his wealth of knowledge on crafting a partner journey that fosters collaboration and drives capital-efficient growth.He takes us through the nuances of treating partners as equals, not customers, and the importance of transparency and trust throughout the partner lifecycle. From recruitment to onboarding, and beyond, discover the strategies that can turn a good partner experience into an exceptional one.We'll explore:PartnerXperience's four C's of partner qualification: Customer Base, Credibility, Capability, and CommitmentThe impact of technology on PX, including PRM platforms like MagentrixHow to measure the ROI of a superior partner experienceThe playbook for capital-efficient growth through strategic partnershipsBernhard's insights are not just for partnership veterans but also for CEOs and founders looking to weave partnerships into their business model. If you're aiming to future-proof your partnerships and ensure they're more than just transactions, be sure to have a listen.(01:00) Guest intro: Bernhard Friedrichs, PXP(04:36) Key elements of a good partner experience (PX and how they influence the overall success of a partnership(07:28) How does a seamless and user-friendly partner experience contribute to the efficiency of partner onboarding and ongoing collaboration?(10:44) Well-designed partner experience, partner loyalty and long-term commitment to a vendor's program(12:09) Preliminary elements or considerations that need to be in place before your efforts with PX can even have a chance to be effective(16:17) Partner recruitment & setting a potential partner up for a great PX - The 4 Cs(21:07) How a positive PX contributes to the overall brand perception and reputation of a vendor within the partner ecosystem(22:13) Role of partner technology in shaping and enhancing the partner experience + how vendors can leverage it effectively(25:29) Personalization in the partner experience(27:04) Strategies for enhancing and evolving the partner experience to meet changing partner expectations: Embrace complexity(28:13) Measuring & quantifying the ROI of investing in a superior PX in a partner program(31:21) What is Capital Efficient Growth? (PXP's Playbook)(34:00) How integrations help provide a better user experience, not just for the vendor’s customers, but for partners too(36:21) Bernhard's key takeaway for vendors from the CEG playbook(37:00) The one thing to know for creating an unforgettable partner experience that can future-proof the partnership(37:35) ConclusionThis 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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.We dissect the past year's partnership trends and forecast what's on the horizon for 2024. Join our guests, Rob Spee & Vince Menzione as we dive into topics such as:co-sellingpartner programspartner relationship managementmarketplacesresellersthe impact of AI on channel sales2024 predictions (and reviewing our 2023 predictions 😁)(01:08) Guest Intros(01:30) Co-selling has continued to be a bigger focus area – any notable observations around this?(02:47) Canalys’ “Co-sell Tech Matrix” report(03:59) Co-sell impact on hyperscalers?(04:59) Traditional resellers in favor of selling in marketplaces - trend in 2023?(07:26) Vendors using marketplaces to co innovate and co sell(10:21) How have partner programs changed in 2023?(12:53) Any new KPIs that you've noticed that vendors are focusing on?(15:59) Trends with partnership technology and the partner tech stack(18:09) Gen AI: Standout technologies helping partnership leaders?(20:02) PRMs are not dead(21:09) Partner-driven revenue: observations & updates(24:58) Do you think there's still an issue with partner attribution?(26:22) A review of the predictions we made last year: Vince's predictions(28:24) A review of the predictions we made last year: Rob's predictions(29:49) Predictions for 2024: Vince's predictions(31:20) Predictions for 2024: Rob's predictions(33:26) Predictions for 2024: Magentrix's predictions(35:40) Paul on Gen AI as a channel opportunity(36:38) Rob on AI, partner experience and PRM(40:24) Rob's final thoughts for partnership professionals as they head into 2024(41:14) Vince on the one consideration partnership professionals should be mindful of as they head into 2024This 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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.Paul Banco makes the case for why leadership buy-in is critical. Drawing from decades of experience, Paul explains how partner alignment, executive involvement, and presenting a clear vision are key to gaining leadership support. He also outlines how to get executives on board, involve them in shaping the strategy, and secure their ongoing commitment.Hear insights on overcoming challenges, evaluating metrics, and maintaining commitment during difficult times.Chapter markers:(01:19) Guest Intro(03:33) How do you suggest partnership leaders within the organization communicate the importance of partner programs to their C-Level leaders who may not see the value?(04:56) Getting internal support to run a partner program(05:58) What's the role of support from C-level executives in a partner program(08:07) What are some more specific parts of the strategy one should focus on when setting the stage in attempting to convince leadership? Should a compelling value proposition for recruitment of potential partners be a top consideration?(09:27) What about technology platforms, collaboration tools, or dedicated personnel for partner management. Is it important to have all that figured out before attempting to get your leadership on board?(10:30) How do you think support from C-level can influence decision-making when it comes to a partnering strategy?(12:00) Once you get the leadership to commit and support the partner program, what do you think they can do to foster a culture of collaboration and get the whole team on board to support the partnerships dept within the organization?(13:28) What other ways would you recommend for leadership to contribute to the growth and development of their partnerships?(15:11) What metrics or key performance indicators should C-Level leaders focus on when evaluating partner program success?(17:22) What’s involved in maintaining a long-term commitment to partner programs, even during challenging times? How can we prepare for such a situation?(20:04) How do we convince the C-level to keep faith in the original vision for the partner program?(22:05) What about the partner experience – how does strong C-level support affect the partners themselves? What benefits might the partners experience when this backing is present?(23:10) Can you share a specific example of a vendor’s partner program that benefited significantly from the backing of high-level leaders in their company?(25:46) What is the most essential element for setting the direction of your partner program and ensuring it continues operation for a long time to come?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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.Our guest, Dorian Kominek, realized the pursuit of partnering and partner programs was in need of a foundational framework. So she has set out to work on changing the minds of partnering organizations to rethink their approach to partner program development.Guest bio: From Channel Manager, to Strategic Partnerships Manager, to Head of Partnerships, Dorian has spanned the partnerships arena for some years before deciding to make an interesting contribution to those who have established partner programs, or are planning to establish one.She’s here with us today to discuss key ideas from her dissertation: Channel Partner Program Development As An Entrepreneurial Pursuit.Find the dissertation here:https://partnershiphero.ca/#research?ref=mgx-pd-bzsptOr check out Dorian's YouTube channel here: https://youtube.com/@InnovationSensation?si=cM0WVttV1UqN-aRfChapter markers:(01:00) Guest intro(06:20) How to attain organizational alignment for supporting channel partner program development as an entrepreneurial venture(08:34) Best practices for development of a channel partner program in accordance with entrepreneurial literature(11:04) Embracing entrepreneurial thinking to foster innovation for partner program development(13:02) Work discretion, autonomy for the partnership person you hire & trusting them(13:47) Not enough financial support is one or budgetary support. But also time is a huge one(14:59) Rewards and reinforcements: If you're hiring an entrepreneurial person, you need to reward them(16:11) Serving partners as we do customers + aspects of the partner experience (PX)(18:25) Survey results & the most commonly cited entrepreneurial factors necessary for success(20:41) Role of partner segmentation in the partner experience(22:55) Role of empathy in creating a partner program(24:50) Partner programs, as an entrepreneurial venture, and the value to partners(26:10) Type of partners to target in the partner program(27:50) Key resources required to run a successful channel program(29:35) What impact do you hope this report will leave on organizations with partner programs?(31:21) 67% of partner professionals say their biggest challenges are internal at their organization----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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.Paul appears on an episode hosted by Vince Menzione. They, along with Rob Spee, explore the dynamics of partnerships and ecosystems, channel marketing, and the pivotal role of the chief partner officer. Other subjects include ecosystem attribution, channel alignment, partner marketing strategies, and the rise of AI adoption. We discuss this and more on today's episode with our Channel Panel members: Rob Spee of Channel Journeys podcast And Vince Menzione of the Ultimate Guide to Partnering® podcastThis 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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri

Let us know what you think of the podcast.Kelly Sarabyn and Asher Mathew are here with us today to discuss key insights from their latest report: The State of Partner-Led Growth Report.This new report promises to shed light on: The power of partner-led growth strategies, Showcasing real-world success stories, Lots of interesting partnerships insights from sales and marketing leaders, And tips to drive business growth through partnerships. To get a better understanding of the implications of the insights they've uncovered, we delve into the specifics behind the results from the report.Link to the report: https://www.hubspot.com/hubfs/The%20State%20of%20Partner%20Led%20Growth%20Report%202023..pdfThis 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 BirdExecutive Producer: Fereshta Nouri Content & Research: Fereshta NouriGraphics & Branding: Fereshta Nouri