How do you tailor your value proposition and messaging to different types of channel partners and buyers?

Identifying partner types is important but also realizing the type of customers they serve, which customers they serve and how they serve them is important as well. Prioritization on partner focus should be considered. We sometimes try to create value propositions for partners who serve a small percentage of the targeted customer base.

Understanding who your partners are is the first step. • 𝗩𝗔𝗥𝘀 (𝗩𝗮𝗹𝘂𝗲-𝗔𝗱𝗱𝗲𝗱 𝗥𝗲𝘀𝗲𝗹𝗹𝗲𝗿𝘀): These partners enhance your product with additional features or services. • 𝗦𝘆𝘀𝘁𝗲𝗺 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗼𝗿𝘀: They combine your products with other solutions to create a complete package. • 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗼𝗿𝘀: They help you reach a broader market by distributing your products. • 𝗢𝗘𝗠𝘀 (𝗢𝗿𝗶𝗴𝗶𝗻𝗮𝗹 𝗘𝗾𝘂𝗶𝗽𝗺𝗲𝗻𝘁 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗲𝗿𝘀): They integrate your product into their own offerings. Each type has different motivations and business models, so identifying them accurately helps in crafting relevant messaging.

Identifying different types of channel partners such as resellers, VARs (Value-Added Resellers), system integrators, managed service providers (MSPs), and consultants is important while crafting a value proposition for partnership.

This research phase is the critical success factor in the future success of your company's indirect sales strategy. One of the best ways to identify potential partners is to listen to your existing sales channels - ideally through a brainstorming workshop or equivalent - where ideas are allowed to flow and opinions on partner suitability can be raised. Culture is also important, as is size. Bigger partners will require more conformance and often cost more to serve than similar-sized or smaller partners. Whilst everyone wants to make margin, the real gold lies in finding win-win in any partnership arrangement - which can only be found with good research skills and effective due dilligence.

Once you identify your partner types, segmenting them into personas is crucial. • 𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗘𝘅𝗽𝗲𝗿𝘁𝘀: Focused on product specs, integration capabilities, and tech support. • 𝗦𝗮𝗹𝗲𝘀-𝗢𝗿𝗶𝗲𝗻𝘁𝗲𝗱: Interested in market demand, competitive edge, and profitability. • 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗣𝗿𝗼𝘃𝗶𝗱𝗲𝗿𝘀: Look for ease of implementation, training, and ongoing support. • 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲𝘀: Prioritize strategic alignment, business growth potential, and ROI. By segmenting your partners, you can tailor your approach to address their specific needs and pain points.

You’ll definitely use various channels to communicate with your audience. Segment your personas according to their preferred channels. This way, you can examine which channel you should focus on and how you can effectively reach your customers.

One need to develop detailed personas for each type of channel partner, including their goals, challenges, preferences, and decision-making processes. One needs to determine the core benefits that resonate with each segment of channel partners. This could be related to efficiency, innovation, cost savings, or growth potential based in different personas.

Partner personas are one level, but indirect channels have layers of personas - which need to be understood. One partner persona might be serving an end-customer in market A, whilst another one will be serving an end-customer in market B. Market A might already be very competitive. Market B less so. It's obvious which one is more attractive. I have seen companies go bust by entering the equivalent of Market A through the first partner channel - because the market has been over-hyped. Go where others are not going. Choose your channel partners because they are different an compliment you. Not just because their persona attracts you!

Segment your partner personas: Understand the specific needs and motivations of each partner group. For example, MSPs may prioritize ease of integration, while resellers might focus on margins and training.

A strong value proposition speaks directly to the benefits your partners will gain. • 𝗙𝗼𝗿 𝗩𝗔𝗥𝘀: Highlight your product’s unique features and how they can be enhanced. • 𝗙𝗼𝗿 𝗦𝘆𝘀𝘁𝗲𝗺 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗼𝗿𝘀: Emphasize interoperability and comprehensive support. • 𝗙𝗼𝗿 𝗗𝗶𝘀𝘁𝗿𝗶𝗯𝘂𝘁𝗼𝗿𝘀: Showcase market demand and profitability. • 𝗙𝗼𝗿 𝗢𝗘𝗠𝘀: Focus on integration ease and added value to their product line. Defining your value proposition with clear, partner-specific benefits ensures relevance and resonance.

Absolutely, a value proposition should be clear, concise, and tailored to the specific personas of your channel partners. By defining a clear and compelling value proposition for each type of channel partner, you can effectively communicate why they should choose to work with you and how your partnership can help them achieve their goals. Core elements of a strong value proposition are clarity, relevance, differentiation and credibility.

In channel partnerships, fitting seamlessly into our partners' portfolios is paramount. It starts with defining precise partner personas. Knowing your partners inside out – their pain points, goals, and unique characteristics is the key to setting up a solid channel. A proposition that aligns perfectly with your partners' needs and objectives would answer all their questions which would eventually lead them to trust the vendor.

You need to think more "through", not "too". Your partners might face problems and opportunities, but it is THEIR customers' problems and opportunities which are more important in the discussion. What Jobs need to be done by the ultimate end-customer and work back from that. I've seen too much time wasted in on internal channel mechanics which lose sight of the end-customer's needs - creating unnecessary complexity and lack of an easy to understand end-customer experience.

Define your value proposition: Tailor your value proposition to address the specific pain points and goals of each partner type, focusing on the unique benefits of your solutions for their target markets..

Your messaging should speak directly to each partner type's needs. • 𝗧𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗘𝘅𝗽𝗲𝗿𝘁𝘀: Use detailed product specs, integration guides, and case studies. • 𝗦𝗮𝗹𝗲𝘀-𝗢𝗿𝗶𝗲𝗻𝘁𝗲𝗱: Provide market analysis, competitive comparisons, and sales enablement tools. • 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗣𝗿𝗼𝘃𝗶𝗱𝗲𝗿𝘀: Offer training programs, implementation guides, and customer support details. • 𝗘𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲𝘀: Present strategic insights, ROI projections, and partnership success stories. Adapting your messaging makes it compelling and actionable for each partner type.

Understand partner personas - Tailor messaging to address their specific needs, goals, and pain points. Adapt messaging for different channels - Adjust tone, language, and format for emails, presentations, websites, etc. Highlight relevant benefits - Emphasize how your solution solves their problems and meets their objectives. Differentiate from competitors - Clearly communicate your unique value and why they should choose you. Test and optimize - Continuously measure, analyze, and refine your messaging based on partner feedback.

Adapt your messaging: Customize your communication to align with the partner’s business model, emphasizing the features that resonate most with them—be it revenue growth, efficiency, or customer satisfaction.

When crafting value propositions for different channel partners and buyers, it's effective to use storytelling that truly connects with each one's unique world. Imagine weaving tales that not only present data but also touch their aspirations and tackle their specific challenges. It's about taking the value proposition beyond just business terms and making it a relatable, human experience. Think of it as telling a story that resonates personally with each partner, making them feel like they're part of something bigger. This way, you're not just selling a product or service, but you're creating lasting, meaningful connections.

Test and optimize: Continuously gather feedback from partners on what resonates, and use data-driven insights to refine your messaging, support tools, and enablement strategies.

Something more that can be done: • Establish strong communication channels for ongoing support and feedback. • Recognize and reward high-performing partners. • Stay updated on industry trends and competitor actions. • Use emerging technology for better partner management and data insights. • Invest in training and certification programs for partners.

Remain agile and be able to change your ideas as market conditions shift. Some channel partnerships will take off. Others will stall. Go where you can build on success and where your products and services are valued. It's a constant pruning exercise to see where you can both give and get the most value from each channel.

How do you tailor your value proposition and messaging to different types of channel partners and buyers? That's the question. My concern is in the third word - "tailor". If you bespoke your product or service too much away from your original core, you can end up spending a lot of money on becoming a bespoke tailor - as opposed to an off-the shelf product shop. Know where your skills lie and only do bespoke tailoring if it fits your business model and business strategy. Channel Partners won't care too much about this and might well ask you for way more than you can deliver. Know your red lines and don't partner-up with folks who want you to contort yourself into unnatural positions you feel uncomfortable with!

Here’s what else to consider: Ensure your partner program is scalable and flexible, offering different tiers of partnership and support, while also considering local market dynamics and partner readiness for growth.