We all know that success in the channel is bred by having a good relationship between the vendor and channel partner. Cultivating that relationship is the hard part—making sure that both sides get an equal reward for their investment.
- Involvement Breeds Excitement
When vendors get involved with their channel partners, they can generate excitement. As a vendor, you can offer discounts. You can provide additional marketing materials. You can take a direct part in training. The key is to create an active relationship. The channel isn’t a one-way street.
- Don’t Overdo It!
Communication is tantamount to success. Promotions, updates on product or service developments, and sale-related information are all good communiques. Twice weekly updates, however, can be overwhelming; more than that can be downright annoying! Don’t forget the power of a good blog or Twitter to keep those channel partners informed.
- Incentivize for Success
The channel is built on incentives. If you seriously expect partners to do the footwork, they need to be rewarded for their hard work. That means creating a strong and very visible set of incentives. Give out awards for top performance and commission increases to worthy partners, and be on top of communication. If an partner makes a reasonable request, grant it. It can only help.
Vendors need partners—it’s the nature of the channel. Keep them happy and cultivate strong relations and those channel partners will reward you for your efforts.