4 February, 2019

Build a mutually rewarding relationship with your channel partners

Did you know, 63.5% of companies credit their channel partners as major contributors to their annual revenue? Most companies rely on their channel partners to reach their valued customer base. As the above study suggests, both channel partners and organizations are important to each other considering the multiple avenues of growth and success that their synergy opens up. Channel partners thus play a very crucial role in an organization’s growth charter.

So, if your business model comprises channel partner sales, then you must prioritize structuring a channel partner engagement plan. Finding ways to improve your partner engagement may seem like a daunting task, but it does not have to be. With the right strategies in place and the platforms to support them, you can enhance partner engagement and increase productivity.

Managing partners: While your partners help you increase revenue and meet your growth targets, it is extremely important for you to ensure that the relationship is not just transactional. It’s no surprise that a thoughtful rewards and recognition program is the foundation of successful partner and employee relationships. But how do you implement a digital rewards and recognition program that engages your target audience on a real time basis, while also accelerating your channel partner growth?

Choose automation: If you are still following the traditional way of keeping track of channel partners sales information and rewards program, it’s time to adopt for automation. Leveraging a digital channel partner program can take off much of that burden from your business.

Using an interactive platform addresses every aspect of the rewards program—recognition, rewards calculation, growth, data management, engagement, real-time rewarding, and so on. It will not only strengthen and secure partner loyalty, but also give a clearer view of the system to both business owners and channel partners.

Using an automated channel partner engagement platform enables you to:

Meaningfully engaged and motivated channel partners thus become your brand advocates. Successful collaboration and engagement with your partners will help you reach your target audience effectively and attain a competitive advantage in the industry.

A sound engagement strategy for channel partners thus becomes a business mandate.