Top Three Things You Should Know to Start a Cost-Effective Channel Program

Working with partners and starting a channel program is a great strategy for firms wishing to promote their products or services. The program must be well defined and have direct attention to the importance of the channel partners. Cost efficiency and faster go to market strategy are some of the benefits from working completely through the channel.
There are some questions which should be kept in mind before starting a channel program:
  • Why is there a need to launch a channel program?

  • What opportunities would be placed for the partners to shake hands with your company?

  • What would be the role of your partner in the channel program?

  • What incentives can be part of channeling and go-to-market strategy rather than being direct vendor for customers?

Therefore, the vendor should know the following top three things which would increase the value of channel partnering:
  1. The compelling motive for channel needs to be a cultural one, this will enable the vendor to reach every niche market with more sellers and customers being acquired with less selling-cost and efficient marketing.

  2. Providing incentives and value-added services such as: financial services or customer-care services, to the channel will enable partner success.

  3. Make the partners realize their guaranteed widespread brand recognition, value of product sales, economic benefits and potential return of the investment.

Thus, the above mentioned are vital things which a vendor should kept in mind in launching a new channel program. I work with many vendors that do a poor job of utilizing the great benefits of the channel. Let’s setup a meeting and discuss.
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