It takes a lot of time and effort to build up a channel strategy and implement it with your partners. Once it is operational and producing revenue, there can be a temptation to just let it run itself. After all, if it’s working now, it will probably work in the future, right?
The problem with this way of thinking is that the market is constantly evolving, as will your channel strategy. You can’t just operate on cruise control once you’ve got things going. You need to actively tweak and change your channel strategy as the industry changes and as your relationships develop. With that in mind, here are some things that Zift clients have suggested keeping tabs on, so that you can alter your strategy when you need to.
1) Your Relationship With Your Channel Partner
How you relate to your channel partner is crucial to your overall success. You need to work with them to make sure that the relationship remains healthy. Your company can only profit from the relationship when they profit from it. You don’t want to give them any reason to switch to a competitor. Constantly monitor your relationship with your channel partner to ensure maximum cooperation.
2) Make Sure You Are Not ‘Just Another Vendor’
You need to develop relationships with the senior management of your channel partner. Ask them about their needs, both now and in the future, so you can see what solutions and potential new products you can offer them. Alter your development and marketing strategy to be in sync with their needs.
3) Demonstrate the Value of Your Product Compared with the Competition
Companies want B2B channel partners who deliver the most value to them. Find ways to reduce the adoption and marketing costs of partnering with you. Figure out if there are slight changes you can make to your relationship with them, or to your product, that can increase the way they perceive the value of your offering.
4) Keep Track of the Purchasing Obstacles For Your Product
Figure out if your channel partners are marketing your product to the right potential customers. Try to be present at the point of sale as often as possible, so you can see how purchasing decisions are made, and alter your strategies if you have to.
These are fairly simple strategies to implement – but they will involve effort and monitoring. When taken into the overall equation, they can help you make sure that your channel marketing strategy works for your company not just today, but well into the future.
