“Channel partners prefer to work with the market leaders and not with unknown brands.” ― Hans Peter Bech
Channel partner investments should deliver a competitive advantage to your business. How you establish and proceed with your partner channel management defines your lead in the market. For sure, more companies acknowledge the significant role that a channel and its channel partners play in the success of a business. As such, more firms also leverage partners as part of their marketing strategy. If you are also looking into this, then you must realize that having effective channel management is more crucial than before.
To ensure that your sales channels are performing their maximum, try incorporating these rules in your partner channel management.
- CREATE AN INTEGRATED PARTNER PLAN
More and more channel captains realize how valuable partner planning is. As a good foundation, partner planning requires you to set your channel strategy. This includes determining your ideal channel partner and the partner tactics to employ so you can provide the best service to your clients. The next step is to plan the ideal distribution strategy that will be most effective for your business.
- BUILD A PARTNER ROAD-MAP
Your channel development process must aim for a comprehensive and effective partner organization. A partner organization is a map of all channel partnerships made with your company. So, they essentially are your firm’s extension. As such, channel captains must truly understand the organization including how to make adjustments for maximum performance.
- CONDUCT VALUE PROPOSITION EVALUATIONS
A value proposition shows the quantitative and qualitative boosts that a channel partner receives when selling your company’s products or services. As a result, these statements serve as competitive filters that determine who among the vendors will they sell and support.
- ACCEPT THE NEW CHANNEL PARTNERSHIP MODEL
The basic structure of the channel partner program has remained the same for many organizations despite the changes in technological advancement these past few years. Partner agreements are outlined into three or four levels in accordance with partners’ earning certain skills certifications and earning a certain level of revenue for the vendor.
- DESIGN INCENTIVES TO INITIATIVE BEHAVIOR
When you decide about channel incentives, incorporate the partner behavior that you want to limit or boost. When you measure each investment success, check how this drove the desired behavior as well as the return on investment (ROI).
- DEFINE A CHANNEL OPERATIONS MODEL
Strategy cites the proper things to do while effective implementation makes effective companies stand out and be noticed. Many senior managers have developed an instinctive sense of how effective their channel operations are. However, these must be measured objectively, since intuition is quite meaningless.
- DO YOU NEED HELP?
Do you also want to have a successful Channel Partner Management?
