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Channel partners

Channel partners

Noun

A channel partner is an independent partner that collaborates with another company to market and sell their products or services through indirect channels. These partnerships leverage the partner's expertise, network and resources to create a mutually beneficial scenario where both parties benefit.

Channel partners come in various forms, including affiliates, resellers, value-added resellers (VARs), managed service providers (MSPs), and systems integrators. Each type of partner brings unique strengths and capabilities to the table, allowing companies to tailor their channel strategy to their specific needs and target markets.

Channel partners often engage in co-marketing activities, such as joint campaigns, webinars and content creation, to promote the company's products and generate leads. Channel partner programs provide a structured framework for managing these relationships, outlining expectations, incentives and support. By creating a well-developed channel partner program, companies can streamline their sales and marketing efforts, reduce customer acquisition costs, and tap into new markets, driving sustainable growth and profitability.

Example:

A cloud-based HR software company partnered with two types of channel partners, a global IT consulting firm (VAR) and a network of independent HR consultants (referral partners) to expand their reach into the west coast market.

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