Businesses that are looking to add revenue streams to boost their bottom line may at some point come across channel partnerships and wonder if they would be a good source of income. But, what is channel partner marketing, and what is the ideal channel partner marketing strategy to achieve the best results? We’re covering the answers to both of these questions below.
Leading CRM platform Hubspot defines channel sales, or channel partners as a business model in which “a company sells through third partners — affiliate partners (who get commission on each purchase), resellers, value-added providers (who typically bundle your product with their own), or another entity that doesn’t work for it directly.” Channel partnerships are an effective and popular way to diversify your income while building long-term relationships with other vendors that can enhance or complement your current offerings to your users.
Channel partner marketing is a powerful facet of a successful partnership, but there is a right way and a wrong way to go about doing it. The wrong way is to simply add a bunch of links to your website in hopes of getting a referral commission of some kind. The right way is to be in strategic alignment with your channel partners. Regardless of what you or your partner is selling, it’s best to be on the same page in terms of what you both hope to get out of the partnership and how you will execute your marketing goals.
For example, some companies that work with channel partners have unique messaging and phrasing they prefer used in their sales copy. The partnerships that are the most successful have a synchronistic combination of (manufacturer) access to product experts and “corporate” marketing expertise with the (reseller) understanding/expertise on their customer/market.
How can you make sure that you’re in strategic alignment with your channel partners to ensure a successful marketing program? It all begins with communication.
Is your company seeking a partner to offer solutions such as Website Security, Remote Network Security, Risk Compliance, Data Protection, or Education and Training to your audience? SiteLock would love to discuss working with you. Learn more about our channel partner opportunities by visiting our channel partners page.