For large technology vendors, maintaining a healthy sales pipeline depends on building a high performing channel. It takes a holistic approach, we’ve been sharing our expertise in the new Digital Marketing Company Bournemouth guide is available on our Insight page.
The use of channel partners is important for technology vendors who need to distribute the product and achieve end-customers throughout the region. gives channel partners assigned to these new markets plus the ability to scale out. Lower cost than when you set up your own local sales team.
According to the CMO Survey results reported by Forbes, the value of channel partner relationships are also growing – in terms of sales volume, up-selling and revenue per unit. Simply, they are indispensable tools relied upon by nearly every major IT vendor.
Except that channel partners not only a tool – or even the service – which vendors can pick up and put down at will.
As the term implies, partners expect a mutually beneficial relationship. They often work with multiple vendors and usually focus their efforts where they believe the highest margins and sales will flow fastest.
Relationship is the key word here, and they need to be nurtured. In all kinds of relationships – professional, romantic and even the types of sales channels – both parties must ask themselves “what’s in it for me?” If one of the parties needs are not met, things went south.
That is why maintaining a healthy channel partnerships, and by extension, a healthy pipeline, requires a strategic approach and investment in long-term relationships. It is easier to be successful at this when you have a good guidance.
What are the challenges?
The ever-changing IT landscape. More recently, the end-user businesses have embraced the cloud services. New “as-a-service” solution could threaten sales of hardware infrastructure. The margins on hardware has been tightened.
Resellers and distributors – channel partners – which must adapt by offering new value through the skills and specialist services. Many are still encouraged to promote products with the best margins and incentives, rather than those that give end users the most value (or a compromise between the two).
Vendors, therefore, need an effective way to …
Mindshare advantage over competitors, even when you are not the best margin
Help partners to adapt and stand out by supporting them to develop the skills, offering innovative solutions and increase sales
Appeal to them strongly motivated by margins and incentives
Simplify the process so that you can attract new partners and help existing partners to increase profits
To meet this challenge is to meet the needs of your partner channel and the best answer to ‘what’s in it for me? “Question. Meeting them consistently and strategically is also a way to maintain a healthy pipeline.
Materials of high performing channel
So, where do you have to invest?
You need to recruit the right partner – a community that provides the right mix of strength and ability, made up of the right business for your products and customers.
Providing useful sales and marketing resources is important. Saving the steady drumbeat of communication about your products, offer your own expertise and provides asset repository that makes it easy for sellers to sell. As our download guides put it – “it’s all about empowerment”.
Help partners to develop skills through virtual events or secure Covid19 like training, webinars, study tours and workshops. This can increase mindshare and increase the ability of partner sales.
Important incentive for mindshare as well, not to mention motivation and morale. Purpose offer rewards that inspire the seller, which is simple to claim, and beat your competitors.
Again – do all of the above strategic is the way to keep you healthy pipeline.
Started with a guide
On Marketing, we support some Digital Marketing Companies Bournemouth of the biggest brand names in the B2B space technology across the channel to market.
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