According to a report published by Model N, channel partnerships mount up to 60% of the revenue generated from large firms globally, and around 86% of the customers choose to buy IT related services and products through channel partners. The stats clearly suggest that channels partners play a very important role when it comes to business sales, but despite this, many partner management programs refuse to give them the importance they deserve.
It is seen that most of the companies are more focused on areas like sales, marketing, customer experience, and employee engagement and they often fail to give attention to partner engagement strategies. That is a big mistake because it’s the company’s relationship with their partners that suffers in the end.
Using Digital Strategies to Help Channel Partners Deliver More
Your relationship with your business partners, be it agencies, sellers, venders, distributors, or advisors, is crucial for the growth of a business as it helps improve your customer support, ensures efficient supply and distribution of your products, and maximises profits. However, what businesses fail to realise is that their contribution can go beyond all this. Since these partners are always in contact with buyers, it means that they play an important role in solving conflicts and in shaping the future innovations and strategies. In addition to this, channel partners also have a good understanding of the strengths and weaknesses of the firm because they know your position in the market and where you stand when it comes to fitting in a competitive landscape. This is the reason why it is important that you get an insight from your channel partners and keep them motivated. If you are looking for ideas, it is recommended that you check out http://www.power2motivate.com.au/.
How to Use Chanel Partner Programs to Get More Value
There are a number of activities that companies can use to improve relationship with their channel partners. This will help them in maximising their profits and to get more insight about their position in the market. Here is how you need to go about:
- Get as much information as possible about the needs and challenges that your channel partners are facing in the market, related to support, marketing channels, as well as digital sales. Ask them to fill surveys, so that you can understand what they need from your firm.
- If you are an established enterprise and have a large partner program, you can provide your partners with necessary training and support to meet their needs.
- Make sure that you develop digital assets that can be used by partners.
- Communicate with your partners about the opportunities that they can avail.
- Invest in a marketing hub, so that your partners have access to training and support.
- Track their progress with the help of specialised tools.
- If you have established a strong partner support, continue to work on building mutually beneficial relationships.