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Saturday, July 3, 2010

Why Bother with Partner Loyalty?

If you are a business owner like me, then you should understand the importance of your channel partners. Basic knowledge of channel management strategies will tell you that a channel distribution network depends on partners to transport goods and services down the pipeline from manufacturer to end consumer. In other words, they keep the flow going so that you enjoy more profits.

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partner profiles

However, knowing that they’re important is not enough. You have to take the time to analyze and invest in a channel management solution and a partner portal so that partners are well-managed and taken care of. This way, you can inspire loyalty amongst your channel members. But why even bother with partner loyalty?

Believe it or not, loyalty is a big part of a channel’s success. If partners are loyal to a company’s channel, then that implies that they are committed to making the business work. That is to say, they will work hard to make more sales and become more productive for you and for themselves.

To inspire loyalty in your partners, you need a good channel management strategy and a partner portal. A portal is a web based application that grants access to those who have been provided with authorized logon credentials. Once logged on, members can enjoy the benefits of accessing important information, pricing details, channel programs, training, support, trends and other resources that are pertinent to the enhancement of their performance. They get to know about various incentives which will push them to perform better. Furthermore, they will get to know your company and your product line more which gives them increased confidence to make sales and interact with the end consumers.

The bottom line is that you should not be complacent with just knowing that partners are important. You should do your part as a parent company to provide them with the knowledge, training, and support, so that they will know that you are a credible leader who deserves their utmost effort.

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