The relationship between a channel partner and the business owner should be of the utmost importance. If the relationship between the two parties should become damaged then this can be a huge loss for everyone, so it is best to avoid this where possible. If you want to make sure that you make the most out of your channel partner management then simply take a look below.
What does a Channel Partner Actually Do?
A channel partner can be a company, such as a vendor, a service provider, reseller, agent, or even retailer. They then partner with an organisation in an attempt to sell products, technology, or services.
What’s a Good Example of a Channel Partner?
Channel partners can include system integrators, value-added resellers, MSPs, distributors and even independent software vendors.
Why do you Need a Channel Partner?
Instead of selling to the customer directly, a channel partner will help you to scale your sales way faster and they will also help you to do it way more efficiently. One manager that is paired with a lot of partners can easily bring in the same amount of revenue as a sales rep, but you will be paying a fraction of the cost.
How to Sustain Valuable Channel Partnerships
If you want to sustain the valuable relationship that having a channel partner can give, then here are some tips that will help you to make the most out of the structure you’ve adopted.
- Find out what Their View Is
The first thing that you need to do is find out what their view is. You also need to see if it is different to yours. If you can see that the two are vastly different, then it is up to you to make sure that everything aligns properly. If you do not take the time to do this now, then you may find that it becomes even more difficult for you to have a strong and cohesive relationship in the future.
- Do you Need more Connections?
Sometimes it’s a simple case of needing more connections. If you know that your channel manager or even your point of contact is leaving, then you may be out of luck. If you want to avoid this, then ideally you have to make sure that you have more than one person who can talk to the partner. If you can do this, then you can create a strong sense of communication, and this will work wonders for you in the future.
- Regular Contact is Important
As mentioned above, you have to make sure that you maintain a good level of communication through your channel partner. One way for you to do this would be for you to maintain regular contact. Unlike marketing automation software, you cannot set up this kind of relationship automatically. You have to put in a lot of work, but in the end, the results will be worth it.
- Be Available
Your partner is essentially going to be working as your eyes and your ears. They are also going to be representing your brand, as if you were there doing it yourself. If you want good selling ratios, be available and stay engaged in the marketing process. Make yourself truly available and show interest in building the partnership, together.
- Work Together
It is so important that you are able to work together on things such as marketing and any promotional activities. The main reason for this is because it can be a huge benefit to your business. Watching the channel partner and the way that they can market your business can be huge, not to mention that it also gives you the chance to provide your input as well. After all, you may well be the person that knows your company the best, and this happens to include all of the minor details that your partner may not know they have to focus on.
- Connecting at a Social Level
If you can make sure that you are truly involved in a lot of social circles, then this will give you a good idea of what the client wants. You will soon find that it is possible for you to change your strategy and it also helps you to have the upper hand when it comes to the operation of your company in general. If you want to offer new solutions or if you want to expand, then connecting with the channel partners that you work with can help you drastically increase your sales, not to mention that it also helps you to increase your use of social events.
- Training
Training your channel partner is essential and it is an integral part of your success as a company. If you can give your partner the right kind of information and if you can show them how the product works, or even the benefits that your product or service can offer then this will help you out drastically when it comes to marketing. Spending the time to train your partner will also help them to be more valuable to your company.
- Practices
Ideally, you have to try and create a platform in your network where you can provide a lot of input and feedback. You also have to make sure that you are sharing the best marketing strategies as well. Your channel partner should know how to handle problem customers and they should also be doing their bit to make your channel the best it can be. By instilling the best practices, you can be sure to do this properly.
- Providing Incentives
Incentives can be a fantastic motivational tool. That being said, it is so important that you do not only reward your partner for meeting their sales targets. You also have to reward them for the quality of sales that they are making. If you can do this, then you will soon see that it is possible for you to rocket client retention and that you can also get to know your channel partner better.
So here are some of the top secrets when it comes to channel partner success. Why not see how many you can implement today?