You’ve worked hard to establish and build your channel partner and distributor relationships. Selling through channel partners is expensive and requires a lot of time, but, if done correctly, can yield significant revenue growth and profits. Getting the most out of the relationship requires a focused and defined approach.
In reality, doing this correctly often is complex. The responsibility is on the manufacturer to establish, build and manage these relationships on an ongoing basis. Constant communication and collaboration are critical for maximizing results.
How do you know if your investment in a channel sales model is working and delivering the results you expect? It requires a methodical approach and the attention of the executive team on a routine basis to ensure investment and partnerships are being maximized and that the business is benefiting from the approach.
The following five steps provide a framework for that regular executive review and can quickly resolve issues when performance is not being maximized. For the complete analysis and recommendations visit our published article: 5 Steps to Maximizing Your Channel Sales Model.
1. Understand the Costs of the Channel & Maximize Profitability
2. Deliver Relevant Training & Education
3. Incorporate the Voice of the Distributor Into Decision Making
4. Standardize Systems & Processes
5. Align Incentives & Support With Desired Outcomes