For centuries, businesses have thrived on partnerships. Even technology giant Google went from nothing to #1 through a plethora of channel partnerships. These partners provided optimum exposure to Google and with time its popularity surged, so did its revenue.
Start-up greenhorns and newbies can take a leaf out of Google’s ultimate success story to augment their business. Collab with the right channel partners and see your business take off to new heights.
However, in the age of digitization, most businesses resort to online platforms to take their business to places. While that’s a good tactic to boot, the viability of channel partners is more pronounced. Because they are in direct touch with customers and understand their pulse better.
No matter what genre of business you have, having channel partners integrated into your business will provide good leverage to your sales figures. Channel partners are focused on building relationships with customers and know what customers need.
The right channel partners will have good market knowledge, potent distribution channels, deft sales expertise and a wealth of customer relationships, enough to bring a windfall for your business.
However, to squeeze the best out of these partnerships, it is necessary to engage with them at all levels and maintain a relationship that will auger well for your business.
An effective and efficient interaction between your company and channel partners will lead to increased revenue, greater profits and most importantly increased loyalty and engagement.
Not convinced? Here’s a lowdown on how channel partners can help you achieve 70% of your sales targets at a fraction of the cost of direct sales.
- Revenue swell: An accord with channel partners will change the sales graph of your company. With an unfettered distribution of products, your sales figures will hit a new level and there will be a good flow of revenue to the company. Each new partnership will be an avenue for increased revenue and sales footprint. At the same time, your partners will also grow revenue for their business. So, it’s a symbiotic relationship.
- Cost of sales decrease: If a chunk of your money is burned in facilitating sales, then you need to take a different route to arrest that. Employing channel partners to do the sales for your organization will help to save on travel costs by sales employees and time wasted on unqualified leads.
- Foray into international territories: With a band of international channel partners, you can explore foreign markets with ease by cutting off time needed for marketing and entering international markets. Foreign channel partners can coalesce with local channel partners to solve language barriers and get help with local customs and taxation problems and increase sales for your company.
- Get exclusive information: Channel partners have a repository of information about customers and how they are perceiving your products. Using that real-time information, you can tweak your business tactics and pitch your products in the right place and time.
In a nutshell, having a channel partner is a boon for any company. Not only companies get the right exposure by joining hands with the right partners, but also, they land the right deals in the right place and time. After all, success stories happen when you partner with the right people.