How to Conduct Audit of a
Partner Program

Partner Program Audits: Let's Get Real About Maximizing Your Channel Success

Let's face it, in the hyper-competitive business world of today, you can't afford to go it alone. Channel partnerships have become the secret weapon for smart businesses looking to expand their reach, rake in the revenue, and get their brand out there. But, let's be honest, building a solid partner program is just the first step. To make sure it's firing on all cylinders, you need to do regular check-ups, or as we call them in the biz, "partner program audits."

Why Partner Program Audits are a Big Deal

• Forrester Research tells us that companies with top-notch partner programs see their revenue surge 17% faster and their profits jump 10% higher than those who haven't quite mastered the art of partnerships.

• Channeltivity found that a whopping 71% of companies are already on board, conducting partner program audits at least once a year.

• The Aberdeen Group reports that the best-performing companies are twice as likely to do these audits as the ones lagging behind.

These stats aren't just numbers on a page. They're a wake-up call, shouting that partner program audits can be a game-changer for your business. By spotting what's working and what's not, and then making the necessary tweaks, hiring a suitable partner marketing service, you can take your channel partnerships to the next level and set yourself up for long-term success.

Related Article: 7-Step Guide For A Successful Channel Partner Program

So, What Exactly is a Partner Program Audit?

Think of it as a deep dive into the world of your channel partnerships. It's about taking a magnifying glass to everything from how your partners are performing to the nitty-gritty of your program structure, your marketing and sales support, how you communicate, and the overall effectiveness of the whole shebang.

The end goal? To pinpoint your program's strengths, weaknesses, opportunities, and threats. Armed with this knowledge, you can make smart decisions and put changes in motion that'll supercharge your partner program.

Let's Break Down the Audit Process:

1. Get Crystal Clear on Your Goals:
• Start by asking yourself, "What do I want to get out of this audit?"
• Clearly define the goals and objectives of your audit. What specific areas do you want to assess?
• Set some key performance indicators (KPIs) so you can measure how well your program is doing.

2. Create Your Audit Roadmap:
• Map out a detailed plan outlining all the steps, tasks, and timelines.
• Make sure everyone on the team knows what they're responsible for.
• Choose the right tools and methods to get the job done.

3. Gather All the Intel:
• Collect data from everywhere you can – partner performance reports, surveys, interviews, feedback, the whole nine yards.
• Dive into your program documents – partner agreements, onboarding materials, training resources, etc.

4. Time to Audit:
• See how your partners are stacking up against those KPIs you set earlier.
• Take a close look at your program structure – partner tiers, benefits, requirements, all that good stuff.
• Review your marketing and sales support materials and see if they're actually helping.
• Analyze how you're communicating with your partners and if it's keeping them engaged.

5. Analyze and Uncover Areas for Improvement:
• Identify the strengths and weaknesses of the partner program.
• Spot opportunities for partner growth and expansion.
• Assess any potential threats that could derail your pre-planned program.
• Come up with concrete recommendations for making things better.

6. Turn Insights into Action:
• Create a plan to implement those recommendations.
• Make sure the partners are in the loop about any changes and that they're on board.
• Keep a close eye on how things are going and measure the impact of your changes on the partner program's performance.

Your Partner Program Audit Checklist:

To keep you on track, it's a good idea to use a checklist that covers all the important bases. Here are some essentials to include:

1. Partner Performance:
• How much revenue are they bringing in?
• How many leads are they generating, and how many are converting?
• Are their customers happy?
• Are they completing their training and certifications?

2. Program Structure:
• What are your partner tiers and benefits?
• How does your partner onboarding process work?
• What are your partner requirements, and are they complying?
• What are the terms and conditions of your partner agreements?

3. Marketing and Sales Enablement: 
• What marketing materials and resources are you providing?
• What sales tools and training are you offering?
• Are there co-marketing opportunities?
• How are leads distributed and managed?

4. Communication and Engagement:
• What communication channels are you using, and how often?
• How do you get feedback from your partners?
• Do you have partner events and recognition programs?
• Do you have a partner portal or other online resources?

By following this checklist and doing thorough audits, you can make sure the partner program is running like a well-oiled machine and delivering maximum value to the business.

The Bottom Line

Regular partner program audits are essential if you want your channel partnerships to thrive. By proactively looking for ways to improve and making the necessary adjustments, you can optimize the program, boost your revenue, and build a sustainable, successful channel ecosystem. Remember, a well-done partner program audit isn't just about checking boxes; it's a strategic move that can shape the future of the business.

FAQs:

• How often should I audit my partner program?

It depends on things like the size and complexity of your program, how quickly your industry is changing, and your overall business goals. But as a general rule of thumb, aim for at least once a year. If your program is large or complex, you might want to do it quarterly or twice a year.

• Who should be involved in the audit?

Get key people from different departments involved – channel management, sales, marketing, finance, operations. And don't forget to get feedback directly from your partners through surveys and interviews.

• What are some common challenges with partner program audits?

Collecting and analyzing all that data can be tricky. Getting partners engaged and getting their feedback can also be a hurdle. And sometimes, you might be dealing with limited resources. The key is to plan ahead and make sure you have enough resources to tackle these challenges head-on.

• How can I make sure my audit leads to real results?

Be clear about your audit objectives from the get-go. Create a solid audit plan, get the right people involved, and then actually implement the changes you identify. Keep track of your progress and measure how those changes are affecting your program's performance.

• Why should I use a partner program audit checklist?

A checklist gives you a structured way to approach the audit, making sure you don't miss anything important. It helps streamline the whole process of collecting data, analyzing it, and creating reports. This means your audits will be more efficient and effective.