HOW TO:Partner & Prosperin the IT Channel

Businesses of every size use IT distribution channels to sell their products or services, either as a supplement to a sales team or in place of one. A channel is any entity that serves as a middle-man between a company and its customers, most commonly as a reseller.Properly planned and initiated, operating within the channel works well and serves as the foundation of long-term business relationships. But how can your business ensure that the venture is successful?

Before diving in blind, take a look through some of these tips for planning and developing new partnerships, maintaining good relationships with existing ones, and

building reliable revenue streams.

Hold a strategic planning summit. Whether forming a new channel partnership or fine-tuning an existing one, it’s a good idea to for all stakeholders in the venture to meet to get everyone’s expectations and concerns on the table. Remember to include representatives from all company departments involved; marketing, sales, product development, etc.

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 Agree on goals. Each partner should have a clear understanding of the target revenues and other any other goals to avoid the potential for misunderstandings and disagreements later on.

Preserve the relationship from the start by getting everyone on the same page at the beginning.2

Determine marketing support needs. Devise a plan that clearly outlines the roles, responsibilities, strategies, and shared costs for both companies, and designate staff from each company to meet as often as needed to update it.

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Create a sales support strategy. If your products & services are technological, it’s a good idea to have dedicated teams made up of both sales and technical staff. These teams can meet regularly to discuss customer feedback, how to overcome objections, and refine sales approaches.

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Determine success metrics. Decide what analytics and metrics should be regularly measured as a yardstick of success. Likewise, come to a

group consensus on what goes into the report. Schedule quarterly meetings to review results and adjust strategies accordingly.

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Develop a partner selection strategy. Business relationships are investments – time, energy, and resources. Define the characteristics of a preferred partner for each market segment to target partners that are the best fit for your organization. 6

START SLOW, then build momentum. Great channel partnerships are not built overnight. They take time, hard work, and commitment to really begin paying off. Being successful in the channel is one race where slow and steady wins.

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Want more tips on how to succeed in the channel?

Check out the full article @ IT Xchange!