Six Cs of Channel Management How to Drive Growth?
When managing any team, you must have processes in place to support your initiatives and help you streamline tasks more efficiently. This is especially true in the channel management.\xa0\xa0\n\n\n\nEach type of channel\u2019s lifecycle is essentially the same \u2013 recruit, onboard, enable, transact, and manage. It\u2019s important that each of these components is considered when mapping out an overall channel strategy. After all, growth depends on the success of distribution partners.\xa0\xa0\n\n\n\nHere, we highlight the 6 C\u2019s of channel management and how you should be applying them.\xa0\n\n\n\n1. Create\n\n\n\nThe first step of your channel strategy is to know who your target partners are and how you\u2019re going to create programs to support them. Channel programs serve as a foundation \u2013 for both the product you\u2019re trying to sell and training. Consistently curating programs and relevant content can keep your partners engaged, and most importantly, informed. Knowing that you\u2019ll have the latest information to aid in their efforts will undoubtedly keep them coming back. Consider frequently including assets like web pages, documents, and videos. \xa0\n\n\n\nUtilizing a platform to easily update and house these documents makes the process of educating partners even easier. ZINFI, for example, boasts a content library module in its partner portal platform that enables vendors to upload and update any collateral as needed.\xa0\xa0\n\n\n\n2. Communicate\n\n\n\nCommunication is two-fold in channel management. You need to have both a communication strategy for new partner recruitment and existing partners.\xa0\xa0\n\n\n\nRecruitment Communication\xa0\xa0\n\n\n\nTo penetrate a market of new resellers, you\u2019ll likely have to rely on social advertising, online events, trade shows, etc. There should be a concerted effort to target verticals that will market your product directly to those most likely to become partners. \xa0\xa0You will need to know who you want to bring on as your reseller, and what would entice them to partner up with you. Your messaging needs to focus on what business value you bring to them, and how you will help them win in the marketplace.\xa0\n\n\n\nCommunication with Existing Partners\xa0\xa0\n\n\n\nWhen you launch a product when you acquire a company, when you roll out an incentive program, when you launch a training program, you have to have a clear set of communication plans tied to those activities, initiatives, and programs.\xa0\xa0\n\n\n\nIt may seem overwhelming to have communications in place for each, individual initiative. But this is crucial to ensuring partners have the information they need to sell. Many channel management teams make it easy by utilizing a partner marketing automation platform that streamlines the process for you. Is it a social campaign? An advertising campaign? A trade show campaign? A partner marketing automation platform can enable you to create dedicated campaigns for each initiative and does the communicating for you.\xa0\xa0\n\n\n\n3. Connect\n\n\n\nYou should be constantly keeping your partners informed. They need to know what's new, what's changing, what must get done, just like the way you communicate to employees on a regular basis for a management infrastructure\u2013what the company goals are, what the quarterly objectives are, etc.\n\n\n\nConsider connecting on a regular forum\u2013whether it's an online event or regular email communications. You can also invest in a channel management platform, like ZINFI, that enables you to connect through mobile alerts and pop-ups so you have multiple touchpoints with partners.\n\n\n\n4. Cooperate\n\n\n\nCooperation means working with partners to create a plan so that they can enter a market segment they may not be competent in. These are large partners that you\u2019ll want to cater to as\xa0 smaller partners may not produce the results to make the time commitment worth it to build entry into new segments.\n\n\n\nRemember, the point is that it needs to tie back to your overall channel strategy. In the end, the entire goal of your channel management investment is to sell faster and at lower costs...