Maintaining accurate, up-to-date partner profiles will make your operations so much easier and more effective. But many companies still see this responsibility as a “data-entry problem,” a nuisance that often gets pushed farther and farther down the to-do list.
The problem here is two-fold. First, companies often believe that partners should be the ones to update and maintain their profiles. But more importantly, companies don’t see the value in having the profiles to begin with! Let me make it simple.
You should be the one to collect all the data you need from your partners; don’t rely on them to provide it without prompting. This information might include basic facts such as name, industry, contact, and length of relationship, as well as more specific details, including access to target customer base, territory coverage, technical know-how, support services, experience, strategic alignment, and market strategy. Over time, your partners may update this information themselves, but this shouldn’t be your priority or even necessarily your end goal.
Now the value of partner profiles: The information they hold is your core knowledge, the most relevant and important partner information that you can access at any time to determine whether these are still the right partners to serve your end customers’ needs. If not, take action. If so, continue to develop and strengthen market strategies to achieve your goals. Take my word for it—without partner profiles, the process of reaching these conclusions will be messier and much more time-consuming!