Attributes and characteristics that you should take into consideration when signing with new channel partners.
The process of identifying the right channel partners for your business can be daunting and confusing, especially if you're a small business taking the first steps internationally.
To help you along in this process, we've put together a list of 5 key points that make a channel partner a good one.
Commercial and technical capabilities
It's crucial that the partners you work with are able to successfully reach the markets and the relevant clients for your business. It's also vital that they are then able to support the development of leads coming through by providing outstanding pre and post-sales services
Financial capabilities
It's of the utmost importance that the partner handling your commercial transactions is able to honour them financially on time, not only for you the vendor, but your potential clients.
"Commitment is probably the most important factor"
Commitment
Commitment is probably the most important factor in this equation. The best partner you can recruit is the one that is motivated, engaged, and committed to doing the best job possible - learning, growing, and "hungry to win". This is what will distinguish a good partner from a winning one.
Transparency and partner ethics
If you're looking for a long-term relationship with a partner that is based on trust and mutual benefit, transparency and ethics cannot be overlooked. It's crucial that the partner keeps an open line of communication and is transparent throughout the relationship. The same applies to you.
Added value
A partner can be an extension of you, the vendor, and therefore, act as an ally to reach the market quicker, but a better scenario is to recruit a partner that adds value to your solution - such as offering add-on services, marketing capabilities or complementary products. This maximises the worth of your proposals and can also increase the chances of success quantitatively and qualitatively.
Need help identifying and recruiting the right channel partners?
United Channels Consulting is dedicated to helping small businesses internationalise their tech solutions. We are experts in channel management and supporting your international sales in new markets.
If you're considering expanding your business to a new market and need advice, we can help. Email catarina.esteves@unitedchannels.net and book a 30-min FREE consultation.