Right. That's a recipe for success.
Keep in mind that your partners have their own businesses to run, that
their customers have their own set of needs and expectations,
that perhaps fifty other vendors are calling on every well-positioned
prospective partner and that your stuff isn't that revolutionary
or special anyway.
Harsh words perhaps, but 2003 is going to be a difficult year for
companies living in the warm afterglow of their own public relations
(albeit at much reduced rates from a year or two ago). This year is a
year of getting back to business basics...of focusing on core
competencies and customer pain and the "blocking and tackling" that
builds real companies.
Building a strong set of channel partnerships in this environment is
relatively easy, actually. While most companies remain stuck in the ego
bath of "our latest products really are the solution to almost every
problem", the few that focus on business basics will have the upper
hand.
So what are the business basics in the channel game these days?
Understand your prospective partners' business - Study their
business, understand their financial model. Perhaps reselling your
product really doesn't make sense for them. Maybe they are a great
implementation partner, but want to remain vendor neutral so that they
can retain their position of trusted advisor to their customers. Don't
assume that there's a place in their business for your products.
Understand your prospective partners' customers - It's not
sufficient to understand your partners' needs these days...you also must
fully understand why their customers buy from your partner. And with
this information you can sit down and develop a comprehensive, well
thought-out plan for building business together. Until you understand
your partners' business issues, they will not consider you a partner.
Commit to quality and the long term - We've all heard promises
from suppliers and then been disappointed. Guess what - channel partners
have a good network and a long memory. If you don't make good on
promises to your channel partners, or do a mediocre job in delivering
marketing or technical support to them, the channel will remember. For a
long time. You must develop a comprehensive plan for investing in your
partners' business, and then follow through, literally for years, on
those plans.
You will not see any substantial revenue from your channel initiatives
for at least twelve and perhaps eighteen months. Do it right and the
revenue stream will be strong, profitable and longlasting. Invest in the
people and processes necessary to attract, retain and add value to the
few "best" partners you can find. Make the commitment to help them grow
their businesses and they just might help you grow your business.
