Channel Partner Management Pointers

In the highly competitive and global economy, manufacturers, especially in the Information Technology world compete to get the largest slice on the consumer pie. Competition means survival as well as staying ahead of the pack. Manufacturing companies, software development, and other producers need marketing allies to compete and increase sales. That marketing allies are called channel partners or resellers. Resellers are firms that sell the manufacturer's products or services to the end users or consumers. What companies have to realize is that recruitment is not the end of the partnership; when the papers are signed and handshakes are over and done with, the process has just begun. Like a marriage or a friendship, as long as the business is alive and kicking, the partnership is evolving and changing.

In order for the partnership to last and prosper, channel partner management is required. There are practices and pointers to help guide the company in dealing with their partners and here they are:

* Knowledge. The channel must know your product and be up-to-date with the latest technology. Software companies develop products almost every year and sometimes even just months after the latest version came out. What the partner must be aware of are the constantly changing versions of the product or service they are selling. The internet has made it possible to predict or preview a product that is not even out in the market. Consumers today are very information savvy. If the partner cannot keep up, the buyer will know and will be turned off by the lack of knowledge.

* Connection. The partner is not obligated to feel loyalty towards the company but it certainly helps a lot. The relationship between the partner and the company must be built on trust and respect just like any other relationship. They have to connect in order to promote the company's products and services better. If the salesman believes in the product, the easier it will sell.

* Access. Vendors usually have a marketing department ready to promote any new product or service. It's a good idea to provide the partner with access to the marketing programs. Access to marketing campaigns will mean that the partners and the vendor are in the same page and are in-synch with one another.

* Big Picture. The business plan is an important tool to any business. The plant outlines the company's future and growth and an important part of that growth relies on the partners. The channel partners should be included in the plan and their roles should be clearly defined. Omitting their presence in the business is to have an incomplete picture of what lies ahead.

* Independence. While the importance of channel partner management is emphasized time and time again, the vendor has to let the reseller sell how they see fit. Giving them a chance to grow without hindrance from the vendor is a good way of ensuring development for both parties.

* Channel Programs. Partners need MDF (Market Development Funds), and Deal Registrations to help with sales. Another useful tool for the partnership is partner portals. It can help with lead forwarding and communicating up to date information from the vendor.

* Channel partner management is an important aspect of the business that cannot be taken for granted. All it needs is a little time and attention from the vendor and cooperation from the reseller. In the end, everyone benefits from the relationship and everyone profits.