Channel Partners And Rewards To Enhance Relationships

If you are into manufacturing and you want to boost your sales and loyalty, channel partners are the key to achieve this. Scouting for trusted and experienced channel partners to be your arm and leg on the streets will empower you to focus on manufacturing and running your business. While they become the extension of your company to push your products. Due to this vital role they play in your success, you must boost their commitment to your company, especially your products.

To better determine the appropriate rewards you can offer to your channel partners, you must first know and understand these three categories that your channel partners qualify.

3 Kinds of Channel Partners To Search For

With the nature of your business, here are the three main channel partners that you should search for and cultivate good channel relationships with.

1.     Distributors

These partners can store, transport and sell your products to product installers, dealers, stores or to end customers. They usually have power and influence enough to be able to push and sell products they endorse. So, build a good relationship with them and provide quality products to gain their trust and support as it will eventually grow your sales.

To gain their support, consider offering co-op funds to your distributors so they can use those funds to reward their own dealers and encourage end-users to buy from them. In addition, provide prompt and sincere customer services so they know that they can count on you to help them, especially in connection with your products.

2.     Independent Dealers

These dealers and retailers sell your product directly to the end-users. For this partner, you must consider your business and your product distribution processes as well as their business and values when thinking of ways to boost partner relationships.

• What can you do so they will sell or recommend your products to their customers?
• How can you convince them to allot more or better space in their stores?
• Are they going to promote your company or just your products?

The questions above are some factors to consider when coming up with rewards you can offer to these kinds of partners so they will promote your products.

3.     Independent Sales Representatives

Some partners here include manufacturer sales representatives, product installers and independent sales reps. These organizations with specific lines of products and/or brands they promote and sell. To encourage them to sell your products, rewards for product sales and promotions done is one of the best you can offer. This gives them the freedom to negotiate and mark their prices so they have ROI commensurate to their efforts of selling and promoting your products.

Since these are usually close-knit, they would have heard what companies offer great rewards and incentives for products sold. So be sure to offer a competitive one. PLUS, commissions on products sold! However, your goal should be long term support for you and your company. To achieve this, offer rewards for instances like new product offerings and providing reasons to feature your brand or company.

Customize Rewards For Your Channel Partners

You must offer rewards considering your set pricing margins and company needs. Also, the best way to reward your channel partners is for performances and accomplishments as well as for the show of loyalty and re-purchases.

Rewards can come in various ways not limited to the following:

• Freebies
• Apparel with your brand or logo
• The featured partner of the month or year published on your website
• Rewards points for products sold that they can use to purchase products within your company or group of companies.

All in all, rewards can create an instant incentive to promote and sell your products. However, this is ideal to just spark that interest. You’ll want to slowly earn their trust and loyalty so that these rewards will be secondary to their willingness to sell your product because these are quality products. In the end, cultivate a good channel partner relationship by ensuring consistent product quality and timely deliveries in addition to providing appropriate rewards. Good luck!

Belong to a channel community that encourages mutual support and success. Call us here now.

ForzaDash features an article every Monday. This week’s feature is entitled: “5 Ways Of Effective Channel Partner Relationships”. Read it here.