• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • About
  • Budget
  • Business
  • Entrepreneur
  • Finance
  • Health
  • Lifestyle
  • Tips
  • Contact

EOTM Blog

Business · October 27, 2018

Build Revenue Streams with a Channel Sales Strategy

 

A picture containing person

Description generated with high confidence

Even though there are many ways to build revenue, most people follow the same strategies that were employed by their parents and grandparents. And, on one level, this makes perfect sense. If it ain’t broke, don’t fix it. Successful strategies should always be duplicated.

However, even though this is certainly a truism of business, every now and then a diversification of your strategies is worth serious consideration. This is the case when it comes to channel partner sales strategies. We’re going to look at what channel partnership means in the sales spectrum and how it can benefit your business.

What Is a Channel Partner Sales Strategy?

Developing a channel sales partnership involves using a third party to sell your product or service. You produce the product or perform the service, but when it comes to selling it, you hand the baton to someone else.

Using the classic lemonade stand model, you could hire your friend down the block who is super popular in school, and all she would do is sell your lemonade. You spend an hour or so making the lemonade Saturday morning, and you give it to her to either hustle throughout the neighborhood or set up a stand to sell it. Your job is then limited to lemonade production, not selling your sweet, tangy product.

How Channel Partnerships Create New Revenue Streams

Your revenue stream—even if it’s strong—is not as diverse as it could be with a channel partnership. To illustrate, let’s say you have a relatively steady stream of sales, and you manage them yourself. Your revenue is coming primarily from the Northeast United States and is powered by women aged 35 to 54. Your business is rolling along, and you’re seeing some growth.

But what if you could access the same demographic in another part of the country? Or how about England? France? Zambia? Australia? If you wanted to make money in those markets, would you know how? Likely, you wouldn’t. However, a channel partnership with a company that focuses on one or more of those markets opens them up for you. All you have to do is find the right one.

Running a Successful Channel Sales Program

A channel sales program is only as good as its plan. There is an unlimited variety of channel sales strategies. One of the biggest factors is determining what level of partnership you would like to foster. Do you want to produce the product and give over selling to your partner like the lemonade example? Or do you want your partner to have more input into both the operations of the business and the nature of the product itself?

This is an important decision. One example of how to do this is through an “enhanced” channel partnership. Here, the partner provides input to help improve the base product. Is this something you’re looking for? Perhaps a slightly different structure of the partnership would be more your speed. Once you decide, you can start putting a plan into action.

If you carefully outline what you need and remain focused on true win-win scenarios, you will be well on your way to increasing your revenue through the use of a channel partnership.

Previous Post: « Office Opportunities – How Virtual Offices Have Provided Work Opportunities
Next Post: About The Essay and its Future »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

About

Hey Guys! It’s Colin. Here at EOTM we have a passion for focusing on start up businesses. We are highly motivated, and fun individuals who are not afraid to take risks!

Let’s Connect!

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Newsletter

Facebook

EOTM Blog

How not to be greedy when trading forex in the UK

Trading futures vs options

For Investors, are Shares or Property the Wiser Choice?

A picture containing text Description automatically generated

F.H. Cann & Associates Inc. Shares Free Options To Help With Student Loans (Including Forgiveness Programs)

Entrepreneurship 101: Ideazon Weighs In On Why Crowdfunding Rocks

3 Things To Consider Before Selling Your House

Footer

About

About

Hey Guys!

It’s Colin.

Here at EOTM we have a passion for focusing on start up businesses. We are highly motivated, and fun individuals who are not afraid to take risks!

Latest Post

  • How not to be greedy when trading forex in the UK
  • Trading futures vs options
  • For Investors, are Shares or Property the Wiser Choice?
  • F.H. Cann & Associates Inc. Shares Free Options To Help With Student Loans (Including Forgiveness Programs)
  • Entrepreneurship 101: Ideazon Weighs In On Why Crowdfunding Rocks

Facebook

EOTM Blog

© 2023 EOTM Blog · Design By Bloom