A Partner Advisory Board (PAB) can become a vital component of a successful channel strategy. It serves as a platform for partners to voice their opinions, share their expertise, and provide feedback. Having a well-designed PAB can result in a more engaged and motivated partner community, increased revenue, and stronger relationships with partners. Here, we will explore the top reasons why you should create a Partner Advisory Board.
Gain insights into partner needs and expectations
Partners are on the front line of your business, working closely with customers and often serving as the face of your brand. By creating a PAB, you can tap into their experiences and gain insights into the challenges they face. This knowledge can be invaluable when it comes to improving your product or service offerings, developing marketing strategies, and streamlining processes. Additionally, partners will appreciate the opportunity to share their thoughts and opinions, and they will feel valued and heard.
Strengthen relationships with partners
Partner relationships are critical to the success of your channel program. When establishing a PAB, you can engage with partners on a regular basis and build strong, collaborative relationships. Additionally, the PAB can serve as a platform for open and honest discussions, which can help to identify and resolve any issues before they escalate. Moreover, the PAB can foster a sense of community among partners, which can help to drive loyalty and commitment.
Drive innovation and growth
Partners often have a unique perspective on your business, and their ideas and suggestions can be valuable in driving innovation and growth. A PAB platform will allow you to tap into the collective intelligence of your partner community, which can lead to new and exciting opportunities. Additionally, partners can provide valuable feedback on product or service enhancements, marketing initiatives, and other initiatives, which can help to ensure that your business stays ahead of the competition.
Increase partner engagement and motivation
A well-designed PAB can help to increase partner engagement and motivation. By providing partners with a platform to voice their opinions and share their expertise, they will feel valued and appreciated. Additionally, the PAB can serve as a venue for recognition and rewards, which can further drive engagement and motivation. Moreover, building a PAB, will assist you in demonstrating your commitment to your partners, which can help to build trust and foster strong relationships.
Enhance communication and collaboration
Effective communication and collaboration are key to the success of any channel program. By having a well represented PAB, you can facilitate regular communication and collaboration with partners, which can help to ensure that everyone is working towards the same goals. Additionally, the PAB can serve as a platform for sharing best practices, which can help to improve the overall performance of your individual partners. Moreover, constructing a PAB can also lend itself as an effort to ensure that everyone is informed about the latest developments, initiatives, and product releases, which can help to keep partners engaged and motivated.
In conclusion, creating a Partner Advisory Board is an investment in the success of your partners and your overall channel program. By tapping into the expertise and experience of your partner community, you can gain insights, strengthen relationships, drive innovation and growth, increase engagement and motivation, and enhance communication and collaboration. So, don't wait, start planning your PAB today!
And if you'd like to learn some best practices on creating a successful Partner Advisory Board, listen to this episode with Lynn D. Tinney, SVP of Global Partners at Zayo.
