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How to Increase Revenue through Channel Partners in 3 Easy Steps

How to Increase Revenue through Channel Partners in 3 Easy Steps

4 mins Read
How to Increase Revenue through Channel Partners in 3 Easy Steps

So, you’ve set up a commerce syndication strategy, and now you’re looking for ways to increase and maximize incremental revenue with your channel partners? Great job, and the good news, is that increasing revenue through channel partners has never been easier. To prove this, we’ve detailed 4 easy-to-understand steps that will help you make the most out of your channel partners in order to increase sales and scale your business like never before.

But something to always keep in mind, a mentality and belief to adopt as you go about exploring the full extent of your business’s potential – when coming up with any form of strategy to increase revenue through channel partners, you should always consider those channel partners as an extension of your sales team. Your partners need to be enabled to succeed at selling your products on your behalf, which also means that you should be asking yourself a very important question, all the time – what should you provide your channel partners so that they can maximize their abilities to sell your products and ultimately increase revenue?

Identify Channel Partners that are the Right Fit

But first things first: now that you and your teams have contrived the perfect syndication strategy, the next step is choosing the partners who are the right fit for you. Without the right channel partners, a finely tuned syndication strategy might as well be a poor one for all the good it will do you. So how do you accomplish this? Well, you begin by assessing your product or service in order to discover which potential partner would make sense to team up with to sell it.

If you have a premium product, the right channel partner would need to have established a premium sense to its audience. And if what you’re offering to your target market belongs in the health sector, then seeking out partners in retail would be an obvious waste of time. Get the idea? The partners that you choose will decide the success of your syndication strategy at the end of the day… or its failure. Choose the channel partners that are the right fit for you, and you choose the partners that will consistently sell your product at an accelerated rate.

Equip Channel Partners for Success

Great, your syndication strategy is locked and loaded, and you have the right channel partners who are ready to aim fire, who you’ve successfully built a strong relationship with. But what about that important question we mentioned earlier – the ‘what should you provide your partners so that they can sell your products and increase revenue’ question?

It’s all very well to have a syndication strategy set up and the channel partners best suited for you, but if they’re not equipped with the right tools to drive sales, again, you’re setting yourself up for disappointment. Like a deliciously cooked meal needs all the right ingredients to satisfy a ravenous stomach, so too does your syndication strategy need all the right components to ensure success for you and your channel partners. We’re speaking of AI-powered tools that enrich your product content to better equip your partners and enhance the buyer’s experience by providing seamless, helpful, and satisfactory interaction. The right Al-powered systems incorporated into your partner’s website will not only help them to sell more than they ever have before but will also maintain consistency with your product. AI-powered tools are perfect for rolling out your own positioning to your channel partners so that whoever interacts with your business directly will be having the same experience when they interact with your partners. With AI on your side, you and your partners are ready to fast-track your success.

Continue to Scale with New Channel Expansion Opportunities

You want to make sure that you can scale along with new channel opportunities by utilizing today’s highly effective AI-driven technologies. We mentioned above the benefit of incorporating AI into your business and channel partners, and we were not kidding. By incorporating AI into your business and channel partners, you’re creating an immersive buyer’s experience that ultimately will set you apart from competitors. For example, with conversational assistants implemented into not just your site but your partners, you’re driving sales through increased buyer’s experience alone. But the opportunities don’t stop there. There are visual configurators ready to custom-configure products using interactive 2D or 3D visualizations that again take a buyer’s experience to a whole new level, helping your channels become unforgettable to customers and prompting a high possibility of return customers. With AI, you can analyze performance data & amp, optimize where need be, and solicit feedback that could be all that’s standing between you and the annual rise in profits you’ve set your sights on.

The truth is, increasing revenue through channel partners is simple when your partners are considering online shoppers by utilizing the right AI-powered tools that were designed to offer smooth and incredible service. If your partners are able to provide that type of service, sales do increase. With AI on your side, you and your partners are, indeed, ready to fast-track your success, and quickly. The efficiency of AI these days, at least, bridges the gap between being stagnant and falling behind competitors and remains the top solution to scaling your business in today’s digital world.

Your straight shot to the top

Need a recap? First, your syndication strategy needs to be created, then a thorough assessment of your product and services must be considered in order to determine which channel partners are best suited for you. Once that’s been accomplished, build a strong relationship. From there, equipping those partners for success through AI-powered tools should become your primary focus. Here at Zoovu, we can help you with that.

Zoovu sets up automated systems that maintain product content enrichment and customer satisfaction and provides increased revenue spikes. Zoovu helps drive sales by offering the AI-powered product perfect for helping your partners perform at their best, bringing you your straight shot to the top. To learn more about how to scale your business and increase revenue through channel partners, get in touch with us today.