6 Steps to a Great Channel Business in Cybersecurity

What is Channel Sales?

Channel sales is when the vendor (you) sells their products and services indirectly through distributers, value added resellers, managed service providers or any other entity.

How Channel Works?

The way channel works is that you recruit 3rd party companies, such as distributers, resellers, service providers, agents and partners, train and enable them on how to sell your products and services, then agree on some level of incentives and margin structure, and then keep them up to date during the process of sales.

1. How and Where to Find Channel Partners?

The process is at the same time simple and hard. It is simple to find channel partners because there is not that many experienced channel partners in cybersecurity space that knowing what the are doing. Especially in Australian market which all the cybersecurity partners are known and the ones that are growing have their mark on the industry.

2. Recruit Channel Partners

The key lays in education, education and education. Have killer content in cybersecurity space and hold conferences, seminars, events, webinars and strong online presence to education your targeted personas.

3. Enable, Enable and Enable

Now that you find your potential partners, it is time to enable them. This is very important as channel partner enablement is an ongoing continues process and it does not finish. You have to constantly feeding your partners with the latest products updates, battle cards, marketing campaigns, technical workshops, sales training and so on and making sure that your partners deliver the right messaging to your customers as well.

4. Monitor and Measure Success of Channel Partners

There are lot of KPIs that we can use to measure the success of the channel partners. Such as:

5. Hire Great Channel Managers

This is no brainer. You need channel champions who are capable of recruiting new partners, enabling them and show them the value of working with your company. People who can come up with strategies to grow a business and execute on those strategies. People who can work with internal stakeholders such as support, marketing and product team to make sure partner has everything they need.

6. Channel Partner Program

Invest on a solid partner program. Have the partner portal and equip them with comprehensive marketing and sales collateral, partner performance in terms of sales numbers, certifications achieved and deals status.

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