10 Essential Skills Every Partnerships Manager Should Possess for Success

Many of our clients often ask us to help define the job specifications and assist in recruiting for a partner sales manager. It's a bit like searching for a Swiss Army knife—one person with a multitude of skills. Partnerships managers are crucial for growing your business and maintaining happy, engaged partners. They act as the main liaison between your company and your channel partners, and often lead business development efforts as new partnership opportunities arise.

Historically, partnerships managers were part of the sales or marketing teams. However, recognizing the value of partnerships, many organizations now have dedicated departments or individuals in these roles. A skilled partner account manager can identify growth areas, create new opportunities, and target future partners effectively.

Whether you're hiring new talent or transitioning someone from your team, here are the essential skills every partnerships manager should have to thrive.

1. Communication and Listening Skills

Effective communication is paramount. A partnerships manager should excel in active listening, understanding partner needs, and clearly conveying your company’s value proposition. This includes verbal, non-verbal, written, and contextual communication skills. They must also communicate effectively with internal stakeholders like marketing, finance, and leadership.

2. Masterful Relationship Building and Management

Beyond recruiting and onboarding, partnerships managers must nurture long-lasting relationships based on trust, respect, and support. Look for candidates who excel in building and managing positive relationships to ensure partners feel valued and engaged.

3. Sharp Problem-Solving and Decision-Making Skills

Navigating the priorities of multiple external partners requires adept problem-solving and decision-making skills. A successful partnerships manager can identify and resolve conflicts, collaborate with various departments, and find win-win solutions that keep both sides satisfied.

4. Excellent Time and Project Management

Often a one-person job initially, partnerships management demands exceptional time and project management skills. This includes organizing tasks, setting priorities, and knowing when to say no. Effective time management builds trust and ensures deadlines are met.

5. Strategic Thinking and Innovation

An innovative and strategic mindset is crucial for standing out to potential partners and pursuing beneficial initiatives. Partnerships managers should be able to identify new opportunities, drive growth, and adapt to the fast-paced industry landscape.

6. Foundational Sales Skills

Partnerships managers should possess basic sales skills to convincingly articulate the value of your product and partnership program. While they don’t need to be salespeople, the ability to communicate value and drive interest is essential.

7. Cross-Functional Collaboration

Collaboration with other departments is key. Partnerships managers work closely with sales, marketing, finance, and other teams to launch effective partnerships and go-to-market strategies. A collaborative spirit is critical for long-term success.

8. Ability to Prioritize

Managing multiple projects and meeting numerous deadlines requires excellent prioritization skills. Partnerships managers must juggle seeking new partners, managing ongoing relationships, and reporting to the company. Effective prioritization and the use of automation tools can greatly enhance productivity.

9. Technical Prowess

While tools like PartnerStack simplify partnership management, a basic level of technical know-how is necessary. Partnerships managers should be comfortable with CRM software, Excel, and other programs, and be able to understand and integrate partners' technology with their own.

10. Product Knowledge

While not needing to know every detail, partnerships managers should be familiar with the main value propositions and functions of your product. They should be able to convey its value to prospects and educate partners on its features, with support from the product team for more complex queries.

Compensation for Partnerships Managers in 2024

As you build your partnerships team, ensure competitive compensation. According to our experience, the average salary for partner account managers in the United States is around $100,000 and $200,000 annually, with variations based on experience. This may include base salary, commissions, bonuses, and profit sharing. You find everything on the market and it might be difficult to make the right choice

Review candidates’ resumes and adjust salaries according to their experience. Investing in the right talent can significantly impact your partnerships program’s success.

Use an experienced contractor- Alternative option

As an alternative option, companies can also consider using an external contractor to fulfill the partnerships manager position. Utilizing an experienced contractor offers several benefits, including immediate availability, flexibility, and specialized expertise. Contractors can quickly adapt to your company's needs, bringing fresh perspectives and proven strategies to the table. This approach allows for rapid deployment and reduces the long-term commitment and costs associated with hiring full-time staff. Cinna Mon Consulting offers a team of seasoned contractors who can start rapidly, ensuring that your partnerships program hits the ground running and achieves its strategic goals efficiently.

Conclusion

Finding a partnerships manager with this comprehensive skill set can be challenging. It's like searching for a Swiss Army knife—one person equipped with a diverse range of capabilities. However, this is where Cinna Mon Consulting excels. Our experienced consultants can effectively staff your partner teams, ensuring you have the right talent to drive your partnerships program to success. Let us help you navigate this complex process and build a strong partnerships team tailored to your needs.

At Cinna Mon Consulting, we are dedicated to helping software vendors elevate their partner programs. Our tailored consulting services empower partners, drive sales, and foster mutually beneficial relationships. Contact us today to learn how we can help your partner program succeed.

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