Channel partners are a great way to grow your company and provide you access to new customers and networking opportunities.  A well-developed channel program can be extremely profitable but there are several factors that will determine the success of your partnership.  In order to develop a flourishing strategy a company must invest in their program and needs to know where to focus its time and money.  Here we’ve outline the most important steps and criteria to consider when building your channel community.

Identifying Ideal Partners

The first step in identifying an ideal partner is to determine their market focus.  You will want to target companies that already possess a strong customer base with a need for your solutions.  There should also be an opportunity for them to expand into your target market and provide you with networking opportunities to further increase your reach.  Ensure there is no conflict of interest with your partner such as competing products or partnerships with rival companies.  It is also important to seek out a partner that shares the same vision as your company and is committed to working with you into the future.  On-boarding channel partners can be an expensive venture so looking for long-term relationships is in your best interest.

Strategic Incentive Program

It’s important to realize that many companies will have multiple channel partners and also their own products and services they’re trying to sell.  In order to remain a priority and keep the focus of your partners you will need to create a competitive incentive program.  While bringing in revenue is the goal of your partnership you need to ensure the relationship is mutually beneficial.  The opportunity to obtain rewards and incentives has a dramatic influence on sales efforts.  These benefits are what will motivate your partners to use their best resources to sell your products and will also encourage them to continue to sell on your behalf.

Supporting Your Channel

Sales and marketing content is one of the most important tools you can provide to your channel partners.  You will also want to equip them with proper training and education on your products and services.  You should provide your partners with content and scripting that target potential buyers at all stages of the buying process.  This will ensure a uniform message and will help to steer prospects towards making a purchase decision.  Continuous content and training should be provided throughout your partnership.  This will keep your partners focused on your offerings and allow them to remain sharp and up to date with any changes.

Winn Technology Group has decades of experience recruiting, building and supporting channel partner relationships.  Contact us today to learn how we can help develop, support and grow your channel community.