One of the easiest ways to grow your business – and with less effort to generate more revenue than to create new products – is to partner with Channel-Partner Marketing. It allows you to offer new products and services to your past, current, and future customers.
The trick to making this type of partnership effective is to come up with a solid single-channel marketing plan—a strategy for two companies to work together to sell or market services, products, or technologies.
Channel Partners can be value-added merchants, managed service providers, systems integrators, distributors, IT consultants, and affiliates.
Affiliate Marketing Benefits
- Extended reach and networks: When your company partners with a channel partner, you are essentially working with your partners and users, and you and your network grow in the process.
- Build brand trust: Having your business backed by a trusted and well-known industry partner will help build brand trust, giving you credibility in your niche.
- Explicit testing: Working with a channel partner allows the company to quickly experience marketing campaigns, products, promotions, and audiences in a less risky environment.
- Increased sales: Extra sales are perhaps the biggest benefit and this is what drives most companies to consider partnership marketing. Just by getting a new offer for your customers, you can improve your leadership. Take the following six actions to increase the chances of success for your channel partnership marketing plan.
1. Get useful information about the company’s products and services
In addition to knowing how to effectively sell different types of products, channel partners also need to know more about the products/services they will add to their offerings.
Your partner needs to keep your business up to date so that you can effectively market products. Now you need to know your partner’s business – what’s already going well and how to integrate it into your messaging and marketing?
The information provided by your channel partner must also include your unique understanding of the marketing and sales process. Who are your target customers? How do they position their brands and products to meet customer needs?
When everyone understands the products and the target audience, it’s easier to come up with a better partnership marketing strategy.
2. Follow brand guidelines
Don’t forget your branding guidelines when working with a channel partner. In other words, as an entrepreneur, you are independent of your partner and must maintain your brand.
Safely follow your partner’s brand guidelines; however, you have already created a niche for yourself and your audience has certain expectations of how you will serve them.
3. Explain how product marketing works
Your Channel-Partner Marketing needs to know how to sell your products and services. As a result, they’ll likely want to monitor your activities to make sure you’re not exaggerating your bids or using unethical business practices to sell land.
Transparency is important. Let them provide feedback and what they expect from your company. They can outlast you in the game and therefore can provide insights and ideas for getting more customers.
Receive training and tools
Good channel partners provide the training and tools you need to maximize your chances of success. They teach you everything you need to know about their offerings so you can pass the information on to potential customers.
If they have a way to collect marketing performance analytics and an easier way to use marketing resources, ask for advice on the best tools to use.
Also, ask how they prefer to handle paid advertising. Your partner may have training and resources that can help you maximize your success in this sales area as well.
Leave room for adjustments
Your generate more revenue than to create new products – is to partner with Channel-Partner Marketing. It allows you to offer new products and services to your past, current, and future customers. and partnership plan shouldn’t be too rigid. You have to adapt to the market and make the necessary changes to ensure more sales.
While you should put as much of your marketing plan on paper as possible, you should also add an addendum to your marketing strategy that gives you the freedom to make changes, like using videos instead of blog posts or Facebook posts on LinkedIn change promotions.
Evaluate your results
The most important part of a solid marketing plan for channel partners is measuring the results. Set goals, measure results, and create reports to measure your progress.
Monitoring and reporting indicate when changes need to be made and can form the basis for adapting or completely changing marketing strategies.
What are you waiting for?
Channel partnerships can be profitable. If you have the right partner and a solid marketing strategy, the possibilities are endless.
Find other channel partners, gather your ideas, and start working to improve your profit margins… and who knows what magic you and your channel partners can do.