What is an Accelerator?

1. Introduction

An accelerator is a structured program designed to expedite growth and performance for channel partners. These programs offer intensive support, resources, and mentorship to help partners achieve specific goals quickly. An accelerator in the IT sector might offer specialized training on new software solutions to boost partner capabilities. It could also provide co-selling opportunities to rapidly increase a partner's market share effectively.

For manufacturing, an accelerator might focus on optimizing supply chain integration for better efficiency. This helps channel partners streamline their production processes and improve delivery times significantly. Accelerators often include access to a partner portal for deal registration and through-channel marketing materials. They significantly enhance a channel partner's ability to drive sales and expand their market presence.

2. Context/Background

Traditional partner programs sometimes offered slower, less focused development paths for new partners. This often led to longer ramp-up times before partners became fully productive and profitable. The competitive landscape demands rapid partner activation and specialized skill development for new solutions. Accelerators address this gap by providing focused, time-bound initiatives for quick results.

These programs emerged from the startup world, where rapid iteration and growth are paramount for success. Vendors adapted this model to their partner ecosystems to foster quicker market penetration. They help partners become productive and profitable much faster than traditional training methods. This approach benefits both the vendor and the channel partner by speeding up revenue generation.

3. Core Principles

• Intensive Focus: Programs concentrate on specific objectives or product lines for rapid skill acquisition.
• Time-Bound: Accelerators operate within a defined timeframe, typically 3-6 months, to create urgency.
• Mentorship & Support: Dedicated experts provide guidance and resources throughout the program duration.
• Resource Provision: Partners gain access to specialized tools, training, and marketing assets readily.
• Outcome-Driven: Success is measured by tangible metrics like sales targets or certification completion clearly.

4. Implementation

1. Define Program Goals: Clearly outline what the accelerator aims to achieve for participants.
2. Select Participating Partners: Identify channel partners ready for intensive growth and commitment.
3. Develop Curriculum: Create a structured learning path with training modules and milestones effectively.
4. Assign Mentors: Pair partners with experienced internal or external mentors for guidance.
5. Provide Resources: Grant access to a partner portal, sales tools, and through-channel marketing assets.
6. Track Progress & Iterate: Monitor performance metrics and adjust the program as needed for improvement.

5. Best Practices vs Pitfalls

Best Practices (Do's)

• Clear Objectives: Define specific, measurable goals for each channel partner in the program.
• Dedicated Resources: Allocate sufficient budget and personnel to support the accelerator fully.
• Regular Check-ins: Maintain consistent communication with partners to address challenges promptly.
• Success Stories: Highlight achievements to motivate other partners and showcase program value.

Pitfalls (Don'ts)

• Lack of Focus: Broad programs without clear goals dilute the impact and effectiveness.
• Insufficient Support: Overwhelming partners without adequate mentorship leads to frustration.
• Poor Communication: Inconsistent updates can leave partners feeling isolated and disengaged.
• No Exit Strategy: Failing to define post-accelerator support can lead to lost momentum.

6. Advanced Applications

Mature organizations use accelerators for specialized product launches in new markets effectively. They can also focus on enabling channel partners to sell complex, high-value solutions. Another application involves preparing partners for specific industry vertical penetration strategically. Accelerators help existing partners cross-sell or up-sell new offerings effectively. Some programs focus on digital transformation for partners, enhancing their online presence. They can also be used to build a pipeline of future co-selling opportunities efficiently.

7. Ecosystem Integration

Accelerators touch several partner ecosystem lifecycle pillars directly. During Recruit, they attract ambitious new channel partners with growth potential. For Onboard, they provide expedited training and resource access for quick ramp-up. In Enable, accelerators deliver specialized skills and certifications quickly. They also support Market by providing through-channel marketing materials and campaigns. Accelerators boost Sell by fostering co-selling opportunities and improving deal registration rates. Finally, they contribute to Accelerate by driving sustained growth and profitability for top partners.

8. Conclusion

Accelerators are vital tools for fostering rapid growth and capability development within a partner ecosystem. They provide structured, intensive support that helps channel partners quickly master new offerings. This focused approach ensures partners achieve revenue targets and market expansion efficiently.

By using accelerators, vendors can build a more agile and responsive partner program. This ultimately strengthens the entire partner ecosystem, leading to greater market share and sustained success.