Channel partners are a bridge between businesses and their customers. They are crucial for increasing sales, achieving revenue targets and tapping new opportunities in new markets and verticals. Because of this, businesses want to strengthen their relationships with their channel partners, such as distributors, resellers, or technology partners.
"Distribution is the single most viable alternative to complement and supplement a direct sales organization." – Phillip L Peck, Former Director of Sales for EagleBurgmann
Do you rely on channel partners to reach your customers? Read on to find out how you can enrich your channel partner relationships.
Channel Partner Enablement
Channel partnerships need enablement through engagement. The right content, proper tools, and accurate information about your products, customers, and territories drive this engagement. Continually improving and retaining a good relationship with channel partners
is imperative to bring in sales and revenue, increase market share and improve your bottom line.
Here are the three tricks that can help you boost your channel partner engagement:
Don’t Let Partners Fend for Themselves
Identify what your channel partners are looking for to increase their productivity. Product training resources and marketing collateral that are full of crucial information add value to your channel enablement plans. Crisp and to the point, product information allows partners to grasp and adapt to any change. Constant support and enablement encourage partners to do more.
A sophisticated partner relationship management (PRM) software can help you organize resources, track progress on leads, and understand the partners’ performance. Channeltivity, a partner relationship management software provider, helped Outmatch, a hiring experience stack provider, grow their partner base by over 300% without hiring new staff. This is a great example of PRM software’s success in managing partnerships.
Create a Strong Channel Partner Program
Your channel partner program
shows how committed and involved you are with both the channel partnership and your end customer. Partners who work with other businesses might analyze you through every interaction they have with you. Ensuring that you treat all your partners — enterprise-level, small or mid-sized channel partners — the same way can help create healthy partnerships.
Keep Communication Channels Open
Find the right and most effective way to communicate with your channel partners so you remain on the same page. To increase engagement, remain approachable and listen to your partners with an open mind. Address concerns or suggestions rationally and ensure that your communication is clear and goal-oriented. Microsoft Teams, Facebook groups, and Slack can add a personalized touch as compared to sending out email blasts. Consider using a PRM tool that offers messaging features so you can collaborate, communicate, and document your interactions with your partners.
Transparency in communication will increase partner productivity, profitability, mutual trust, loyalty, and partnership longevity.
Offering rewards for exceptional performance, aligning your partnership strategy with your partners’ needs, and maintaining clarity in communication can bring you the output you expect from channel partnerships.