Growing Your #1 Sales Multiplier: How to Cultivate a Thriving Channel Reseller Network

As some of you have noticed and thanks for all the comments and congratulations, I am working on a new start up with a friend from SAS and Red Hat, Anthony Franklin. WeGo Golf is a premier mobile golf experience that brings the high tech of golf simulators and the fun of the Top Golf experience together at your corporate location. Of course, I love the golf side of this business (read previous blog series on the parallels between golf and strategic alliances) but the opportunities for partnership and the way they can drive our national growth is what's got me really excited. While the conversations with companies like Callaway and Cuervo are exciting, like all start ups at WeGo cash flow is king and that means channel is the focus. I have to admit though, building a channel network from scratch feels daunting.?Are you staying up at night trying to figure out an expansion of your channel? Worry not,?intrepid entrepreneur, we'll get it right. To help, here are the ways I'm guard railing the development of my superstar sales channel:

1. Define Your Ideal Reseller:

Not all resellers are created equal.?Before recruiting,?identify your ideal partner so you don't waste your time chasing every potential source of new revenue.?Consider factors like:

• Industry Expertise:?Do they specialize in your target market?
• Sales & Marketing Strength:??Can they effectively promote your product?
• Geographic Reach:?Where do you want to expand your footprint?

2. Craft a Compelling Value Proposition:

You know why customers choose you, but repeating that to a reseller and hoping they want to get in on the action is a mistake. Learn why resellers should choose you and create a brief "pitch"?highlighting the benefits of partnering, for example:

• Generous Margins:??Ensure they profit handsomely from each sale.
• Sales & Marketing Support:??Offer resources like co-branded materials.
• Training & Onboarding:??Make it easy and cost free to add you to there portfolio.
• Incentivize: Offer financial Incentives to their sales force for early success.
• Support: Provide back up for them when they get over their skis in a deal.

3. Go Hunting (But Ethically):

Now,?how to find these ideal partners??Here are some options:

• Industry Events:?Network at trade shows and conferences.
• Online Directories:?Explore platforms listing potential resellers.
• Referral Programs:??Incentivize existing resellers to recommend others.

4. Make the Onboarding Process Seamless:

Don't throw new resellers into the deep end.?It's very easy to forget how long it took you and your sales team to learn to sell your value and likely much of it becomes "muscle memory" over time and you essentially forget, how you're selling so effectively. It is key to provide a smooth onboarding experience with:

• Comprehensive Training:??Educate them on your product and sales strategy.
• Dedicated Support:??Offer ongoing assistance to address their questions.
• Marketing and ales Materials:??Equip them with tools to promote your product effectively.

5. Foster a Collaborative Partnership:

Your reseller network is an extension of your team.?Here's how to nurture the relationship:

• Open Communication:??Maintain regular contact and address concerns promptly.
• Joint Marketing Initiatives:??Collaborate on campaigns to maximize reach.
• Performance Recognition:??Reward top performers to incentivize continued success.

Bonus Tip: Leverage Technology:

Invest in a Partner Relationship Management (PRM) system.?This streamlines communication,??tracks performance data,?and facilitates a smoother overall experience for your resellers.

Building a channel reseller network takes time and effort,?but the rewards are substantial.?I'll let you know how things go with WeGo, let me know what's worked for you!