How to Become a Partner in this Encrypt Everything World

According to a new market research report Encryption Software Market by Component (Software and Services), Application (Disk Encryption, File/Folder Encryption, Communication Encryption, Cloud Encryption), Deployment Mode, Enterprise Size, Vertical, and Region - Global Forecast to 2024, published by MarketsandMarkets?, the global encryption software market size is expected to grow from USD 7.5 billion in 2019 to USD 16.5 billion by 2024, at a compound annual growth rate (CAGR) of 17.0% during 2019–2024. Major growth drivers for the market include focus on adhering to stringent regulatory standards and data privacy compliance, rising concerns of loss of critical data, and exponential increase in the adoption of cloud and virtualization technologies. 

Source: MarketsandMarkets?

The encryption software market by services has 2 categories: professional services and managed services. The managed services segment is expected to grow at a faster pace during the forecast period as managed services provide traders with support, maintenance, and infrastructure management for effectively securing and ensuring privacy of data. 

With the escalation and increase in cyber-crime threatening both the public and private sector, it’s important to understand that encryption is an excellent way to protect all kinds of data, resulting in an opportunity for technology partnerships, alliances, and SaaS/PaaS/IaaS integrations.

In addition, the digitization, digitalization, and digital transformation era (the digital era) — with reports and market analysis available, as well as the high disclosure of new technologies and solutions that is constantly demanding a change of position by the IT industry (from vendors, distributors and resellers) with a new job to consolidate service delivery efficiently on a global scale and new sources of value as a market differential to the end-user, who is no longer just a buyer but a researcher and spokesperson who represents the largest source of investment to the success of major brands — is no longer a dystopian vision of the future, it’s well under way.

Therefore, in a world where change and adaptation are key to the survival of products, solutions and brands, the ability to shape the market quickly and efficiently will be a highlight for leading IT vendors and channel programs. And that means that, currently, the channel sales and marketing will also have to be part of this new ecosystem, ready to serve the partners according to their demand.

As recent months have shown, 2019 and 2020 will continue to consolidate trends that have redefined the IT industry's shape in the world by highlighting much more than Revenue Based partnership. The top keywords in a Partner Profile become: Entrepreneurship, Customer/Partner Experience and Adaptability.

Therefore, with the technological complexity that all these trends are generating, cybersecurity must be a priority, and it will represent a clear opportunity for IT resales, distributors and alliances. Also, automation and encryption continue to be a dominant concern which represent a huge opportunity for Channel Partners. 

Let′s talk about B2B Opportunity – from a channel marketing perspective

The way worldwide companies define their customer acquisition models (CAM) had to adapt to the changing consumer purchasing process. More advisory action, access to more information means that companies must be more and more concerned with their customer's success — from the first interactions, through the sales stages and, subsequently, to the use of the product or service. Amid the constant adaptation scenario, in addition to a whole new Global Privacy and Regulatory Policy to follow, a practice long used by technology companies also had to reinvent itself: the channel smarketing model. When thinking about scaling, it is much more difficult to do this without help from a network of partners who support strategy, especially in SaaS and PaaS companies where business success is directly linked to growth speed.

Crucial factors in the success of a channel program are finding companies that overlap with one’s target market and creating a relationship that brings value to both sides, and also provides a set of benefits to enable all partners to grow their business.

Channel Automation 

Although the success of indirect sales is relatively applied to human interaction, the process, loyalty, and opportunity for growth are related to the direct implementation of automation tools such as Customer Relationship Management (CRM) and Marketing Automation tools, plus the new strategies available in the marketing―for example, social selling via LinkedIn Sales Navigator and Account Based Marketing (ABM).

In the Channel Journeys podcast interview, Jay McBain, Principal Global Channels Analyst at Forrester, describes what he calls the third wave of automation for sales and marketing leaders that’s bringing respect to the channel profession.

Incentive Models

Performance based incentive models basically aim to improve profit, reach and mix for the partners, as it has been doing for so many years. Common incentives include: Sales Performance Incentive Funds (SPIFs), Discounts, Market Development Funds (MDFs), and activity-based rewards. But as the channel continues to evolve rapidly, everything, including incentive models, are changing with that.

With new partners—more likely influencers, advocates and alliances—there is a fundamental shift in how incentive programs work.

Unify, inspire, train, and reward your channel team, partners, system integrators and stakeholders for all their achievements must be the top priority on your Channel Program.

__________________________________________________________________________

Thank you for reading this, and for following my work! Even if you never contribute! Thank you! You are a part of my digital journey toward my phygital ideal life, and I'll be sharing more of that in the future!

For now, good night. I hope your week brings you nothing but what you need.

Thank you! ?Muchas gracias! Muito obrigada!

Ask yourself, "What's the best that could happen?"

And be prepared to find out!

If you like my post, react, smile! Thanks, and if you have something to add, or a question, use the comments.

__________________________________________________________________________

Credit

Thanks to Giovanna Lester for proofreading this article.

Giovanna Lester – Portuguese-English International Conference Interpreter, Certified Translator and ABRATES General Secretary. Helping businesses and individuals bridge the language gap since 1980.

Follow Gio Lester on Twitter: @cariobana

Reference 

■        Indirect Sales: Great podcast about why indirect sales matters to your future with Jay McBain from Forrester and Julian Lee at eChannelNews.

■        MDF: As savvy channel managers are more aggressively measuring the results of Market Development Funds, Kenneth Fox asks, Are You Getting The Most From Your MDF?

■        Deal Registration: Win Business and Add Value to your Channel Partners with the right Deal Registration Program.

Hashtags

#channelpartners #channelmanagent #channelecosystem #channelmarketing #B2B