Channel Strategy for Sustainable Growth
Developing Your Channel Partner Strategy
The first step to building a successful channel program is defining your strategy. Questions to address include accurately identifying target markets, setting financial objectives and creating a compelling partner value proposition. In addition, you’ll need to decide your organization’s ideal mix of direct and indirect sales.
Components of building a successful channel strategy include:
- Identifying potential alliances and the types of partners that align with your business goals and target market
- Developing mutually beneficial relationships that provide value to both you and your partners
- Providing training and support to your partners to ensure they have the necessary knowledge and skills to sell your products or services effectively
- Establishing a clear engagement model with communication and feedback channels to ensure your partnership is successful
- Monitoring and evaluating the performance of your partners to identify areas for improvement and further growth
Alexander Group can help you develop a channel strategy that benefits you and your partners.
Partner Strategy Should Drive Revenue Growth
A successful partner strategy helps accelerate growth. Alexander Group can help you identify your partnership needs and develop an approach that drives revenue growth for you and your partners. When considering your indirect channel strategy, we will help by answering the following:
- What is your target market for partner coverage? You should consider the customer segments you want to target with your channel partner strategy, including the segments that benefit most from indirect coverage vs. direct coverage. Consider factors such as geography, industry, customer size and purchasing behavior.
- What types of partners should align with your strategy? Focus on the channel partners that best fit you, such as value-added resellers, systems integrators, distributors or service providers. Each type of partner provides different value, so choosing partners that align with your business goals is essential.
- What is your value proposition to partners? Clearly define what your organization can offer to your channel partners. Options include financial incentives, training and support, marketing and sales resources, or other benefits.
- How should your partner program be structured? Start by developing a formal program for onboarding and supporting your partners. This approach should include guidelines for partner selection and tiering, training and enablement, and rules of engagement between your internal sales roles and your partners.
- What are the goals for your partnerships? Define the performance metrics that will measure the success of your channel partner program, including sales targets and revenue growth goals.
Developing a solid and effective channel partner strategy will allow you to optimize your partnerships, reach new markets and maximize the profitability of your overall go-to-customer strategy.
Manufacturing & Distribution Channel Partner Integration Roundtable
Discover the four-step partner program framework process, common themes and accountabilities to drive revenue success.Watch the Video
Need Help With Your Channel Partnerships?
Experts at the Alexander Group look to top organizations within your industry to see how they are maintaining and growing successful partnerships.