How can you create joint business plans with channel partners?

Joint business plans (JBPs) are strategic documents that outline the goals, actions, and resources of both a supplier and a channel partner, such as a distributor, reseller, or retailer. JBPs can help align the expectations and incentives of both parties, foster collaboration and trust, and drive mutual growth and profitability. However, creating effective JBPs requires careful planning, communication, and execution. Here are some tips on how to create JBPs with your channel partners.

1 Assess your channel partners

Before you start drafting a JBP, you need to evaluate your channel partners based on their performance, potential, and fit with your strategy. You can use criteria such as sales volume, market share, customer satisfaction, product mix, and growth rate to segment your partners into different categories, such as core, growth, or opportunistic. This will help you prioritize your resources and efforts, and tailor your JBP to each partner's needs and capabilities.

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Leandro Braz

Especialista em Desenvolvimento JBP @ Nissin Foods | Inteligência de Negócios
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A avaliação dos parceiros comerciais deve ser um processo contínuo, é muito importante monitorar o desempenho ao longo do tempo e reavaliar periodicamente para garantir que continuem a atender as suas necessidades. O processo permite um alinhamento dos objetivos, contribuindo para o sucesso mútuo.

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2 Define your objectives and KPIs

Next, you need to establish the objectives and key performance indicators (KPIs) of your JBP. These should be SMART: specific, measurable, achievable, relevant, and time-bound. You should also align them with your partner's goals and interests, and ensure that they are mutually beneficial and realistic. For example, you can set objectives such as increasing sales by X%, launching a new product or service, expanding into a new market segment, or improving customer retention or loyalty. Then, you can define the KPIs that will measure your progress and success, such as revenue, margin, market share, customer satisfaction, or return on investment.

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Rachel Coulson

Public Relations Strategist
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In communications and public relations, a lack of discernible metrics is an industry-wide issue. Traditional media and old-school ad sales relies on antiquated measures like: “real time bidding” and ancient algorithms. Modern #strategiccommunications practices call for more forward-thinking leaders. If a manager is telling you over and over and over NOT to do something, take a few minutes and ask yourself: “why?” Why does this old, overweight unhappy man insist on sending budgets via snail mail? Oh, because he doesn’t know any better. Junior staffers and #wfh employees can benefit from new ways of thinking. Old school media types will get mad. #corporatecommunications #mediarelations #PR #agencies #fintech #adtech #startups

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3 Develop your action plan

Once you have your objectives and KPIs, you need to develop your action plan. This is the core of your JBP, where you outline the specific activities, tasks, and responsibilities of both you and your partner to achieve your goals. You should also include the timelines, budgets, and resources required for each action, and assign clear roles and accountabilities. For example, you can plan actions such as launching a joint marketing campaign, providing training or support, offering incentives or discounts, or sharing best practices or feedback.

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4 Communicate and negotiate

After you have your draft JBP, you need to communicate and negotiate with your partner to finalize it. This is a crucial step, as it will determine the level of commitment and buy-in from both sides. You should present your JBP in a clear and compelling way, highlighting the benefits and value for your partner, and addressing any concerns or objections they may have. You should also be open to feedback and suggestions, and be willing to compromise or adjust your JBP if needed. The goal is to reach a win-win agreement that satisfies both parties.

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5 Implement and monitor

The last step is to implement and monitor your JBP. This means executing your action plan according to the agreed timelines and budgets, and tracking your KPIs regularly. You should also communicate and collaborate with your partner throughout the process, providing updates, reports, and feedback, and resolving any issues or challenges that may arise. You should also celebrate your achievements and recognize your partner's contributions, and use the results and learnings from your JBP to improve your future plans and relationships.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Raquel Belem

Helping Startups grow through Cloud Solutions 🚀☁️ Amazon Web Services (AWS) | Empowering Women's Leadership in Technology through Training, Mentorship, and Employability 🦋 WoMakersCode
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A distribuição de contas e territórios entre seus parceiros de canal é uma boa estratégia para que sua empresa consiga cobrir o maior número de contas possíveis dentro de um maior espaço de tempo, assim como evitar que os canais concorram entre si.

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Rachel Coulson

Public Relations Strategist
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Always, always, always follow up! Of someone stops emailing you about a project, consider it done. And when it’s “done” - take it. I’ve had many, many, many managers try and “take” work that I own. No bro, it’s my time. #wfh #startups #funding #corporatecommunications

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How can you create joint business plans with channel partners?

1

2

3

4

5

6

1 Assess your channel partners

2 Define your objectives and KPIs

3 Develop your action plan

4 Communicate and negotiate

5 Implement and monitor

6 Here’s what else to consider

Account Management

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How can you create joint business plans with channel partners?

1

2

3

4

5

6

1 Assess your channel partners

2 Define your objectives and KPIs

3 Develop your action plan

4 Communicate and negotiate

5 Implement and monitor

6 Here’s what else to consider

Account Management

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