Indirect channels, or partner programs, have become a popular choice for companies that need to get new products out there in a hurry, yet lack resources to do it efficiently. Even mega companies like Apple recently realized the potential of having partners sell their products so distribution becomes ubiquitous for easier accessibility.
Even if that's the basic benefit of partner programs, so many more benefits exist for companies with limited budgets. Also, if you want to bring better convenience to your customers, partnering with indirect sales channels gets your products into places you otherwise wouldn't have access to.
Let's look at four unexpected benefits of partner programs and see how you can save yourself money and connect to customers in ways that open new avenues of product appreciation.
1. Saving Money on Sales Teams
One thing that takes considerable money when rolling products out on the market is hiring sales teams. You'll find evidence out there of just how expensive it is to hire and train a sales staff. Some sources show training a top salesperson on your team could take $100,000, depending on the size of your company.
This doesn't include the cost of benefits and commissions as just two parts to the whole. In total, it could cost a quarter of a million dollars to get a top sales team to promote your products. Even then, it's a throw of the dice on whether you'll immediately make back costs.
Using a partner program, you can rely on the sales team of your partners rather than yourself. It's within this realm where partner experience makes considerable difference in how fast you can get your products out to the marketplace.
With a partner having access to better technology as well, they'll know how to distribute your products through online resources you couldn't afford to explore on your own.
2. Helping Customers Find Your Products Globally
The expense of hiring a marketing team to target specific customers around the world can add up to as much expense as a sales team. Partner programs let you get your products into more effective physical locations for better visibility.
What makes this even more convenient for you and your customers is your channel partner can help sell your product in foreign locations with different languages. They'll translate marketing ideas and achieve tapping into international markets that benefit from using your products.
Because your partners have prior relationships with your new buyers, they'll understand how to target them in the right ways.
3. More Time to Focus on Other Business Priorities
By avoiding having to hire extra people and deal in costly facilities to store your inventory, partnering eliminates a lot of management hassles. As such, you can focus on product training with your partners rather than having to train new employees to get your product out to the world.
With competition more intense in business, you definitely need more time to focus on other priorities rather than fitting in more time for training. Partners can help you generate quick revenues so you can start gaining profits quickly rather than consistently falling behind from expenses.
4. Adding Additional Services to Your Customer Base
To show how effective the symbiotic process is on partner programs, your partners can offer additional services or products to your customer demographics. Even though that benefits your partners, it also benefits you because it ties in as relational to your products. It's an excellent marketing platform for buyers to keep buying from you because they know your partnerships complement you perfectly.