Building a reseller channel can add value to your business, increase brand reach, and help your customers get the most from your solutions.
Reseller Partners contribute to customer success by managing your solution's implementation and customization while offering value-added services. For example, HubSpot invests in agency partners who specialize in implementing the robust toolset HubSpot offers, leading their customers to see an increased ROI, use more solutions , and reduce churn.
A well-executed Reseller Partner Channel takes time, effort, and strategic planning. Here’s how you can build a channel that benefits customers, partners, and your business:
Define your value proposition and how partners contribute
A unique value proposition will give you an edge when differentiating yourself from the competition. You can dive deep into this by understanding your users, the problems they are trying to solve, and the goals they are working towards.
Similarly, have a clear value proposition for your channel resellers. How will partnering with your business help them grow theirs? How can they add value to your solution? How will your partnership help their customers see a greater return on investment?
Create a profile of ideal partners
Identify the partners best positioned to take advantage of the channel reseller value proposition. Consider how they interact with your customers and how you can connect with them to build a partnership. Make certain you understand their motivation to participate. Start with a core group of motivated and responsive partners.
Some partner types you encounter may be:
- Value-added Resellers, who can provide complementary value beyond your solution
- Consultants, who will provide strategic advice and analysis; or
- Managed Service Providers, who are responsible for maintaining IT systems, compliance, document libraries, etc.
Develop a sales process
Legal tech buyers can have a complex buying journey. You need to understand the considerations involved and design a customer-focused sales process.
This can become even more involved when you partner with channel resellers. Incorporate a core group of trusted partners when developing your process so you can decide where each party contributes and leads the process. Will resellers need much support from you, or will they independently manage the sale?
To accurately track reseller sales, you'll want to incorporate software like Referral Factory. It's an easy-to-use, no-code software with the tools you need to create, launch, and manage reseller programs effortlessly.
Empower your partners to succeed
To help your channel resellers find customers for your solution and maintain growth over time, you’ll need to regularly educate, empower, and motivate your partners.
Educate them with proof-of-concept case studies. This will best illustrate the value and benefits of your solution. From here, work with them to improve their sales and marketing to grow their businesses.
You can empower them with co-marketing campaigns and powerful sales tools. You understand your solution better than anyone, so use this knowledge to develop education programs and resources.While money is a great motivator, you can also drive consistent effort from your partners by providing them with leads, connecting with them, and keeping customers happy.
Grow and manage your partner channel
Once you are seeing success with your initial class of channel resellers, continue to onboard new partners. Identify the most successful resellers and determine why they are successful so you can replicate that success with new partners.
You’ll see many benefits from growing and managing your reseller channel. They include:
- Enhanced technology, skills, experience, and competence
- Delivering more value to your customers
- Gaining additional sources of feedback for product development and marketing initiatives
- Leveraging the resources and expertise of all partners
- Growing your market position while managing risk
LTMG has been developing reseller partnerships for two decades. Schedule a call to discuss if you're interested in utilizing our expertise.