Developing channel partner strategy like channel partner programs is a challenge especially for channel managers. Striking the right balance between profit and sharing margins, proper application of technology, preventing conflicts between partners are all the job requirements put on managers. Executing the right strategies is clearly necessary.
While the internet changed the landscape of channel partnership forever, there is no need to disregard traditional concepts. They can, in fact be combined to planos iptv. form a better hybrid of strategies that takes all the positive benefits from traditional and modern channel strategies.
Channel programs’ are launched usually with a partner portal to boot. Partner portals are websites usually developed by a third party or an in-house web development team for the vendor. The vendor’s channel partners will then be provide with log-in credentials to provide limited access to the website where they can build up their profile, submit deals and generate reports. Partners will be free to access marketing resources and update their accounts but the limited access means they are forbidden to see other channel partner’s account to prevent channel conflict
One of the most important things that separate a potentially unsuccessful business from a potentially successful one is branding. There is nothing like brand loyalty in terms of business longevity. Vendors are not the only entity to be concerned about this. In the case of Radio Shack for example, customers have been flocking to its relatively new competitor Best Buy because of the quality of service and product they provide. Radio Shack is now in danger of a buy out after they fail to entice customers back to their stores. This is because customers learned to associate, best products, prices and service with Best Buy. How important is branding to channel partner strategy? Very.
Communication is the foundation of a strong and trusting relationship. This includes channel partner-vendor-customer relationship. Vendors have to check in with their channel partners regularly to ensure that they are working to sell their product. Issues that will inevitably come up should be addressed as soon as possible to avoid making things worse.
Financial incentives are important in ensuring channel partner loyalty because at the end of the day, partners also have businesses that need revenue to survive and grow. Cisco for example shares almost 90% of their revenue to their partners as stated in their channel partner program. Their incentives should be given regularly, not only to be fair but also to motivate them to sell more of the vendor’s product.
Bringing in partners that don’t have the experience and training in selling a vendor’s product is a bad channel partner strategy. Vendors or channel managers should match the product with the right distributor to maximize selling potential. This is especially true for vertical products or high-value products with highly specific niches. A product such as Chinese social networking site for example has a niche market and a channel manager should choose a partner in China or who is familiar with the culture to sell the product.
Partner strategies are not a matter of hit and miss. It’s about having a structured plan of action to harness success for both the vendor and the channel partner.
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