Here are a few thoughts that run through my mind when I think of distributorship. Hope you find them insightful!
What Are Channel Partnerships?
Suppliers use a variety of distribution channels to both maximize and diversify sales as well as mitigate risk when looking to find distributors. The best distribution channel mix will balance active, hands-on channel partners with passive, more referral-based channels like referral partners.
Channel Partnerships: Considerations
Like any kind of strategic partnership, channel partnerships require careful strategic planning and monitoring in order to drive top results.
1. Select the right channel partners
Before settling down with any distribution channel, suppliers examine market demand and determine how many and what kind of channel partners they seek when aiming to find distributors.
2. Share metrics
When it comes time to sign a channel partner agreement, suppliers should make sure to include the metrics they will use to measure their partners’ success. Over time, analyzing these metrics will help them determine where their channel partnerships are succeeding and where they could use more work.
3. When the vendor succeeds, the supplier succeeds
The channel manager plays a vital role in all channel partnership programs. It is the channel manager’s job to maintain relationships with distributors, keep them excited about selling the product or service at hand and help them identify new market opportunities.
Buyer-Seller Collaboration Drives Success
When buyers and sellers collaborate through channel partnerships, they open communications to create a leaner supply chain and, ultimately, increase revenue for both sides. Are you a buyer interested in forming a win-win partnership with a seller, or vice versa? Learn how Powerlinx can help you forge partnerships and find distributors for long-term success.