What is A Channel Partner
What is aChannel Partner ?
A channel partnership can be a win-win for both the vendor and the partner. By choosing the right group of channel partners, the vendor is able to get a big bang for their buck. They can increase sales exponentially by gaining access to the partner’s existing customers. Conversely, the channel partner is able to increase revenue by cross selling or upselling a new product to its existing customers and by acquiring additional customers who are interested in the new offering.
The challenge for both the vendor and the potential channel partner is to find the right fit. The 80/20 rule is well known in channel sales. It states that, on average, 20% of a vendor’s partners will generate 80% of the indirect sale channel’s revenue.
#Channel Partnership Benefits
Different partner programs offer different benefits to both the vendor and the partner. Here are a few benefits to each which may be achieved depending on the type of partnership that is implemented.
