If you are looking to acquire new channel partners for your company, here are important points to consider in your channel partner recruitment process:
- Experience of the channel partner with similar products / markets
Much of the value of having channel partners stems from their ability to quickly be up and running selling your products and to act as an extension of your sales team in new markets or territories. Hence, when looking to add a new partner, evaluate the experience they already have with selling similar products in similar markets. The more experience they bring to the table, the faster they can become an effective sales resource for your company.
- Alignment of your channel partner with your company’s business model
Your business model may range from being the cost leader to delivering products which are high quality/high cost. Your channel partner’s capabilities should be aligned to the business model. For example, if you are in a premium product category, you will want a channel partner who handles premier products for other companies and has a sophisticated sales force.
- Potential conflicts for your channel partner with other products sold
If your channel partner relationship is non-exclusive and many are, you need to be aware of the potential conflicts of interest. Ultimately, sales people will sell what is easiest for them to sell and often times also what puts the most money in their pockets. So, just be aware of conflicts and do you what you can to ensure it is as easy as possible for channel partners to sell your products.
- Sales network and infrastructure of your channel partner
As appropriate, evaluating a prospective channel partner’s network, such as number of locations, number of customers, number of sales people and even the more basic capabilities of IT connectivity and infrastructure can play an important role in measuring the potential.
Do you want to recruit more channel partners? The Lead Dogs can help with our comprehensive channel partner recruitment and management services.