Develop the necessary processes, acquire channel-centric talents, and proactively invest in your most valuable channel relationships because they can drive an estimated 20 to 40 percent of your overall revenues at a fraction of your selling, general, and administrative (SG&A) expenses.
Several of my consulting clients deliver exclusively through a channel network (direct sales reps are creating demand for the company’s products and services) or lead with a channel partner when possible. In many industries, distribution partners are at the very edge of the market; they speak with or see clients daily and in the process gather invaluable insights about market preferences and trends. Individuals and organizations who develop intimate, trust-centric, value-based relationships with their channel partners can tap into these insights; those who actually embrace the market insights through trusted relationships and deliver innovative products and services in response to those customer demands are the ones often head and shoulders above their competitive peers.
Feet on the street do more than create distribution channels; they can also act as tentacles in the market, bringing critical signals back.
How do you build, nurture, and capitalize on your relationships? Take our Free Relationship Signature Index assessment which will identify you in one of four quadrants with a high level profile and a set of recommendations.