Partners Are Your Biggest Revenue-Building Asset
As a marketer, it’s natural for me to look to my in-house sales staff first when wanting to increase revenues. They’ve been trained to know the product inside and out, and they have the experience to ensure timely and efficient implementation of a new sales campaign. Then I remember a powerful sales tool many people overlook: channel partners. Ever heard of a little company called Google? Back in its early days, the search engine giant utilized channel sales and marketing partnerships with AOL and Yahoo to eventually dwarf its two competitors. Why Utilize Channel Partnerships? Channel partnerships, as opposed to in-house sales campaigns, should be a mainstay in every marketer’s arsenal for three primary reasons: They can be rolled out faster They’re lower risk They require less overhead When properly utilized, channel partners help drive revenues and build brand potency. For example, if my company’s products or services align with my partner’s, we’ll create a mutually beneficial relationship that delivers an immense return-on-investment. Let’s consider the costs associated with an entire sales team versus the overhead for an indirect sales team. Despite being on my partner’s payroll, these costs can match, and even exceed, the revenues generated by my in-house sales force. How to Leverage Channel Partnerships for Higher Revenue Too many vendors fall into the trap of expecting their partners to do all the heavy lifting. However, the most productive partnerships require effort from both parties. We practice and preach the following four guidelines to produce successful channel sales…
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