When you decide to join a big channel, you must realize that you are entering into multiple channel partner relationships not only with the channel captain but also to the channel partners. As each relationship is unique and often delicate to establish and maintain, you must now find ways to develop rapport. These 5 ways of effective channel partner relationships can help guide you on how to manage your channel connections.
How Do You Handle Channel Partners?
Handling your channel partners can be very taxing and challenging especially if you are just establishing that relationship or if there is some existing conflict. To avoid or eliminate this from happening altogether, here are 5 ways of effective channel partner relationships so you know how you should handle your channel partners and boost partner rapport.
1. Give Your Time
Whether you are a distributor or a partner sales representative, you must know the importance and how co-selling with your partners can impact your sales and eventually the success of your company. In line with this, the big channel where you belong serves as your feet on every sales turf there is and is more than your sole company. Thus, it is for your advantage to collaborate with them.
If you think about it, your big channel is composed of numerous channel partners. If you can interest even a few of them to promote and sell your product or service as an individual or an upsell to other products that they are already selling, then that is a combined more sales than if you alone are selling. So, whenever there are chances to do sales calls, get-togethers, clarifications, or inquiries not to mention social gatherings including ballgames or dinner meetings, give your time to participate in most if not all of these. Remember that your company’s success relies on them. As you make part of the channel, your participation contributes to the achievement of an effective channel partner relationship.
2. Promote As A Team
Cooperation is a primary factor in your success. It then makes perfect sense to work closely with your channel partners when promoting your product or services. So, if your partner organized a special event to showcase his products or services and you are invited, make sure to join, especially if you are asked to represent your product or service. Sales pitches coming from you as the owner of the product or service are bound to be powerful and more convincing than your partner’s, right?
In the end, you generate more sales and you have just demonstrated to your channel partner how they should sell your product or service as well. Plus, you may have just earned some future or prospective clients in the future for your channel partners. Because let’s face it, some who watched your presentation may not need your item now, but they may need them in the future, or someone they know may need it. At that time, your product or service may just be the thing they will remember to recommend if you delivered a winsome sales pitch. What a win-win situation indeed!
3. Go Social
The use of social media is a proven way to not only market your product or service but also to connect with people all over the world. Practically speaking, a good marketing sales representative and channel partners have realized the need to invest time, money, and efforts in employing digital marketing and being active in social media communities.
Due to the smart filters and active social media users, promoting your product or service has a great impact on company sales. From testimonials to referrals and simply typing the service or product that you are looking for, you can now have various companies offering that product or service that you want to find. What’s more, you can choose to find service or product suppliers near you or anywhere in the world. When you participate in forums or employ paid or unsponsored advertisements, these are all boundless prospective sales sources for you and your channel partners. So, imagine if there a lot of you doing this? Your marketing reach can increase exponentially. Remember though that from your end, you just have to establish at least these 5 ways of effective channel partner relationships. So that you can build trust and a bond that can withstand conflicts or rivalry.
But in the end, whether you are dealing with channel partners or sales representatives, these individuals or companies have established their own social media clients. And since they have established themselves with these clients, your channel partner or sales representatives have a much higher success rate when they sell your product in these circles.
4. Establish The Best Community Practices For Your Channel Management
In relation to social media, your chance to create and establish your own shared experiences as well as communities or groups is important. A good example is when you have an exclusive website for your partners, vendors, companies as well as clients and encourage open communication where everyone can share best practices and perhaps a consensus of what best practices can be supported by all group members.
To encourage a channel partner or a sales representative or your distributor into joining your group, you must also think of ways to give benefits for them. Think from the viewpoint of your channel partner and provide the ones that can motivate them. Initially, the success of your business is often the prime motivation. But you have to consider other ways as well. Think of versions of the 5 ways of effective channel partner relationships that apply to your particular group.
In line with these 5 ways of effective channel partner relationships, consider other motivations such as providing excellent aftersales services so that you can provide troubleshooting for any problems that your end-users encounter while utilizing your product or service. Being the maker and owner of these, it is assumed that you know how to address those issues better and faster than your channel partners who sold it to them.
Another motivation is perhaps the dynamic and open-sharing community that you have made, wherein all members look out for the interest of one another and not of each other’s best interests. A mutual camaraderie and rapport go a long way towards offering and providing sincere assistance to one another.
On the whole, if your management strategy encourages and enhances the best community practices, then it will gain worldwide potential and open at any time of the day.
5. Be A Co-Sponsor With Your Channel Partner
Why should you persuade your channel partner to co-sponsor with you and vice versa? Because your channel partners will naturally want to use more salespeople and market venues but may have limited resources. So, to support their marketing and promotion activities, you may want to invest in those by being co-sponsors for say, the dedicated ones. This move tells your channel partner that you are supportive of him or her efforts to sell your product or service and it can increase the motivation to push your product or services on the side of the sponsored individuals or groups.
There are many effective ways that your company can provide a proper incentive to your channel partners and/or sales representatives. An example of co-sponsoring is if you pay for 50 or 60 percent of the channel partner costs IF he or she meets the criteria. The criteria can be a condition to improve his or her marketing knowledge or skills in promoting your product or service. Or if he or she meets the quota of sales or number of calls for cold calling telemarketing within a day or a week. A third can be twice or thrice of the original commission for new buyers, etc. The criteria are up to you and your channel marketing strategy.
As a result of any of these motivations, you can boost leverage in making new sales as well as establish a true working relationship with your channel partners or sales representatives.
5 Ways Of Effective Channel Partner Relationships: The Bottom Line
All in all, a well-crafted channel model, with various channel partners and salespersons promoting the product or services of the same vendor, must do its best to succeed in each given opportunity, despite the differing values represented. Integrating the 5 ways of effective channel partner relationships into your marketing endeavors can create instances that are conducive to cultivating sincere and effective channel partner relationships.
Join a channel that promotes these 5 ways of effective channel partner relationships among the channel partners. The Forzadash community is always welcoming to new vendors who will become their channel partners. To reserve your appointment, just call us here now.