Do you have a channel strategy in place? You may have channel partners as part of your Go To Market Strategy, but do you have a strategy that includes how you will support your partners’ success?
I’ve worked with many companies who sell through the channel and complain that their channel partners aren’t selling enough.
In order for channel sales to be successful, your team has to understand how the potential partners are going to make money with the product or service you want them to sell. It’s not up to the partners to figure it out, it’s up to you.
Bruce Stuart, founding partner of @channelcorp joins #Sales Talk for #CEOs to share his step-by-step process for creating a successful channel partner strategy. You’re not going to want to miss this one! Click to tweet
In this episode, Bruce will take us through each step in the process of setting up a channel strategy. You will learn tactics on how to identify potential partners. He explains how to build a financial model that will attract the right partners, including understanding their investment and time to pay back. Another key takeaway is the program package. Think franchise, and you are on the right track to understanding the investment that you need to make in preparing the materials and process for a successful channel strategy.
Watch the podcast below or on our YouTube channel.
Highlights of this Episode:
[3:46] How to decide if your product or service is suitable for channel sales
[6:29] The relationship that your channel partners have with their customers is the biggest asset that they will ever have
[10:24] I tell my clients to “Think franchise” that’s how complete your offer has to be
[10:58] The most cost-effective way to find channel partners
[13:50] Your channel marketing people need to know how to count
[15:20] You are investing in an asset that will be treated as an expense
[17:14] Checkout this 250 page instruction manual, you don’t have to make it up
[22:48] The worst thing you can have is an incompetent channel partner making a successful sale
[26:50] The three options for channel structure
[29:24] Channel manager as trusted business advisor
[33:15] When do you have to revisit your channel strategy
About Our Guest
Bruce R. Stuart, CMC, founding partner of Channelcorp Management Consultants Inc. (Channelcorp) where he provides growth-focused executive education and channel consulting to senior executives in the IT industry. He has authored more published articles on the topics of channel partner profitability, channel development, channel management, and strategic partnerships and alliances then anyone in the industry.
Channelcorp is the leading, and most experienced, independent IT channel consultancy in the world specializing in vendor and partner business model transformation. Channelcorp has completed Management Consulting and Executive Education assignments in 25 countries around the world. The firm’s clients include many of the top hardware/software/telecommunications companies selling into most of the product and service categories in the worldwide IT market.
Connect with Bruce Stuart in the links below: