Channel partners contribute to the company’s indirect sales and can be anyone ranging from resellers, service providers, retailers, agents, vendors, logistics partners, or last-mile delivery agents. Channel partner and company relationships pave the way for promoting these products and services & to reach the end consumer. There is a give and take where the organization provides technical support, product and marketing training, discounts to distributors, lead generation tools to retailers, deal registration, joint marketing & co-branding, and most important incentives.
Onboarding channel partners is not a novel idea and there are several challenges associated with it. They have a large workforce and are scattered across geographies making it difficult to coordinate. These challenges can be quite overwhelming. Hence as an organization, you would want to have a set of parameters to track to avoid attrition.
To understand more about the KPIs, incentive programs, and how Compass can simplify the most complex plans for your channel partners, download the Ebook now.