“Looking to progress your career in channel management? New salary survey and skills research published for channel manager jobs.”
The Channel Institute has published a new salary survey identifying salary bands and median salaries for channel manager job roles worldwide. The salary survey will be of interest to channel management professionals looking to both benchmark their current salaries, and understand what they need to achieve in order to secure higher paying roles.
The salary survey follows on from research conducted in 2018 by the Channel Institute to identify the key skills and credentials that employers look for when hiring new channel managers.
In 2018, the Channel Institute polled more than 400 Channel VP’s and Directors at large technology companies to learn what they look for when hiring new Channel Account Managers. There were some surprising results.
There were two surprising results: “Innovation & Creativity” and “Commitment to the channel”. These were accompanied by the more commonly expected factors of “Business Acumen”, “Relationship Building” and “Flexible Delivery”.
Innovation and Creativity
This is not something that was highlighted in previous research by third parties, but innovation and creativity is a skill that appears to have jumped up the rankings. Heads of Channel want to know that new team members can think on their feet and bring new insights that can be shared across the entire channel team. This was mentioned as being particularly important for channel management teams working with channel partners that are still trying to adapt their business to cloud-based models.
Commitment to the Channel
The second most frequently reported response was that candidates take the channel profession seriously, and do not merely consider it “another type of sales job”. This category covers channel management training topics such as a clear knowledge of how channels work, the channel landscape, and excellent skills in joint business planning. Channel leaders are clearly raising the bar on the profession, recognizing that the subtleties associated with channel management require training skills that can only be acquired through a combination of formal channel training and experience, as opposed to the more ad-hoc learning approaches of the past.
Candidates for channel manager jobs could set themselves apart from the crowd through Continuous Professional Development (CPD) with a business training qualification specifically in channel management or channel marketing. This was particularly important for those companies hiring candidates that are relatively new to the channel profession.
The runaway number one sought after skill falls into the general category of “business acumen”. This covered responses such as understanding of new business drivers (AI, Business Transformation, Digital Co-Marketing, Social Selling, etc.) and how these will impact on channel partner profitability. New CAM’s need to quickly grasp the consequences for channel partners of increasingly shifting towards service delivery with recurring revenue models and the impact of this on a business and its profitability.
Communication skills, empathy and the ability to develop relationships and trust are obvious skills that any successful Partner Account Manager must possess. These skills were identified as being a basic requirement in channel training and not something that would make a candidate stand out from the crowd.
Finally, many respondents highlighted that Channel Managers operate in a world that is affected by many stakeholders, and many factors are entirely outside of their control. The ability to maintain focus in the face of turbulence, managing unpredictability and still deliver sales results was identified as a key training requirement.
The top 5 factors listed in order of priority are:
- Business Acumen.
- Channel knowledge and commitment.
- Innovation and creativity.
- Relationship building.
- Flexible delivery.
According to Mike Kelly, Director at the Channel Institute, “There are five key takeaways from this research to help channel professionals progress their career:
- Emphasize your channel management training and business acumen.
- Channel-specific CPD and channel-business certification is essential to prove your commitment to the channel profession.
- Demonstrate “outside-the-box” thinking.
- Prove your communication and empathy skills.
- Convince employers that you can deliver in the face of unforeseen disruptions.”
Business training in areas such as channel management and channel marketing has traditionally been provided by employers or consulting companies on an ad hoc basis, leaving a major skills and knowledge gap in the industry. This has been particularly true for new entrants to the profession, who typically come from end-user sales or marketing. These professionals are often recent graduates who are “thrown in at the deep end” of channel management and partner marketing, or simply put through an employer’s own training academy that rarely focuses on industry-wide best practices.
The aim of the Channel Institute is to bring a more formal, standardized structure to training for channel business professionals. In particular, the Institute aims to focus on the vastly under-served segment of training and certification for those that are relatively new to the channel management profession. The Certificate in Channel Marketing is also ideal for those charged with channel partner marketing and channel partner training at technology reseller companies, to help them understand vendor-independent global best practices in co-marketing.
Free trials and resources are available at channelinstitute.com