How To Build A Long-lasting SaaS Channel Strategy?
SaaS channel sales is the process of collaborating with a third-party organization to ensure that your products are delivered to your target audience. The chief objective of this approach is to increase revenue generation in an effective way without investing efforts and resources in scaling a sales team of your own. The ability to choose the right partners that have strong and efficient sales teams can save you a lot of money and time, amplify your company's existing credibility and connections.
When your company partners with some other business, the latter creates distinct selling channels that principally increases the reach and impact of your products. These partnering systems, in particular, are known as channel partner programs and they mainly comprise of three things:
- A certain company permits its "partner" to sell some of its yields along with a few other services.
- Two companies sell their products parallelly.
- One organization outsources its sales needs to another to assimilate more manpower and competence.
The benefits of forming a SaaS channel will surface only when your business opts for the right kind of partnership.
To make your tasks a tad easier, we will be delineating the top six ways of achieving the ideal channel partner strategy for the years to come.
It Is Important To Know Where Your Company Stands At the Moment
Before you start looking for sales partners, it is important to be thoroughly acquainted with the needs of your company. Begin with figuring out your company's performance in the present day. Transfer the responsibility of selling your products to a well-established third-party only when you know your company cannot achieve the desired goals by itself.
Apart from this, your sales partner is familiar with the appropriate approaches of pitching about your products to the customers. Easier said than done, the process of sustaining a partnership that is especially related to sales will take a lot of patience. Instead of blindly taking the leap of faith, set the seal on the verity that your company is structurally stable and there are no internal inconsistencies.
If there's room for improvement, work on them and make sure they are delivering desired results. Investing in a SaaS channel is a long term commitment thus, it should be an informed decision.
Choose the Right Partner
In this day and age of varying needs and technologies, you must have realized that the one size fits all policy is now a thing of the past. A company that proved fruitful in catalyzing the sales efforts of a different organization might fail to bring about the same impact for your business as well. If you feel directionless, here are a handful of questions that you can start out with:
- Is the company capable of fully exploring the strengths of my organization?
- If the company has a large inventory of products, which of them will complement my yields the best?
- Who would be a suitable fit for filling in the deficiencies of my business?
According to experts, in an ideal situation, your partner company should reverberate with the similar workplace culture and value system as yours. In order to select the most worthy SaaS partner, gauge the market value, overreaching goals and weaknesses of the shortlisted collaborators and determine whether or not it would create a landscape for sustainable business alliance.
You Are Not Bound To Be Partner With Just One Company
SaaS channel partnerships aren't meant to be with one company only. Depending on the size of your business and its gamut of objectives, you can assign different roles to different organizations. Here, the size of the ecosystem wouldn't matter as much but, its dexterity would.
During the initial months, if you feel that the idea of idea of partmering with multiple companies can take you a long way, we would suggest you resort to this option and give it some time to develop. Even though building an advanced channel calls for lots of planning, comparmenting and implementing a teired partnership structure, you will still have an entire lineup dedicated to marketing your products and pushing your company towards the limelight.
There are a few things that you must bear in mind while forming an expanded ecosystem - the first of which is the verity that the partners must be assigned responsibilities corresponding to their market value and size of the workforce. Needless to say, the headliner partners will demand most of your time and attention whereas, the temporary collaborations such as guest posts, podcasts and bytes and link exhanges will be reserved for the smaller partners.
Streamline All the Activities With Your SaaS Channel Partner(s)
The goal of making the most out of a SaaS channel partnership can be achieved only when you and your partner (or, partners) are on the same page and have a definite plan to follow. Regardless of the domain your business deals in, there are some rudiments that must be in place under all circumstances.
A To-do List
First things first, both the parties should be clear about each other's needs and expectations and be aware of the path that the companies are heading out on. If you are allocating the liability of selling your products to a third-party, naturally the latter will exercise its authority and have its say. Nonetheless, before this discretion is handed over to a different organization altogether, generate decisive decisions about distribution of funds and resources, target demographics, technical updates, crisis management plans and the like.
Clear Lines Of Communication
Your sales partnership wouldn't last for long if you do not set up clear lines of communication where the two companies can transparently exhange ideas and pay heed to each other's feedbacks. There are numerous SaaS platforms available in the market today that simplifies communication between two business partners and guarnatees that the messages are not lost on their ways!
Rely Only On the Proven Training Techniques
When you have a new sales team operating with you, it would be wise to rely on the same techniques that you did to train the employees of your business. This is because, after they start rolling, if a member from your partner company loses his way, your existing workers can help them resolve the issues without any additional assistance from your side. When you are posing as an instructor, share as much information as you can with the new team to optimize your brand image and messaging for maximum ROI.
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