4 Steps to implement an effective channel strategy

4 Steps to implement an effective channel strategy

You’ve selected what you believe to be the right channel partner, what do you do now to ensure that that channel partner views you as the preferred supplier? How do you build a long term, stable, partnership with the channel based on trust and mutual business benefit? As a business partner, the channel manager, should try to develop a strategy to help the channel perceive the business win of partnering with you. For a successful relationship that gets results, the channel manager should aim to become a valued member of the channel’s team, helping them to improve their performance.

How to successfully implement an effective channel strategy.

1. Think Win/Win/Win – Win for the Customer/Partner/ You

Channel partners must perceive a real win for them to want to work with you. The most powerful way to achieve this win is to help them achieve a business objective which is important to them. Once they have agreed to the plan and are willing to resource it, show them what the business win will be and ensure that this becomes an ongoing reality.

2. Be proactive and involved

Be proactive and involved showing how partnering with you will help the channel partner achieve their business goals. Focus attention and resources on areas where you can provide the solutions. Identify business opportunities providing a business win for both parties. Sell those opportunities to the channel partner and build the partnership around them.

3. Develop a Partnership Plan

The development of a partnership plan will provide a business focus for the partnership. The partner’s business win needs to be clear and concise. A clear plan will define mutual expectations of commitment and return, enabling both parties to plan for and ensure success. It will help to focus partner activity, maximizing productivity and reducing channel conflict, concentrating the partner’s attention and resources on their activity with you. It will also provide a method for monitoring and managing the partnership. A medium and long term focus will then promote long term, not deal-based partnerships. This will provide a means of ensuring that the channel partner commits the right resources to support the plan, fulfilling the role you had previously defined for them.

4. Build a partnership based on TRUST

There are three key decision criteria which people use when choosing a partner. The channel manager should apply all three: Can we TRUST this person, or company?  Can we GET ALONG with this person, or company? Can they PROVIDE THE SERVICE we require?

In summary, to develop successful, profitable, channel relationships, as the channel manager  think not about direct selling but about partnership selling. Go from being a sale’s professional to an expert consultant. Turn attention from the customer who might buy your product through the channel, to the channel partner themselves. Focus on the long, not the short term, not on closing the deal with the customer but on helping the partner to win and in so doing helping you to win and dramatically impact the bottom line.

What have been your experiences, either as a channel manager or as a channel partner, we would love to hear from you?

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