Keep Right Blog

Three Ways To Maximize New Products and Services Partner Revenue

Broadening your product lines and services can be an effective strategy to minimize revenue peaks and valleys often experienced by companies with a limited offering, or “one-trick-pony.” At the same time, you cannot take for granted that your existing customers will resonate to your new products and services just because your current solution meets their needs.

In other words, each product and service within your portfolio of offerings may address a different market segment, have different value propositions, and require different educational and promotional elements. And, the same goes for your partners.

So, keep the following three tips in mind as you look to your channel partners to help you grow revenue for new products and services.

• TAKE A STEP BACK, BEGINNING WITH TARGET MARKET. If your new product or service is an extension or an upgrade to your existing offering, then this step back is a small one. Current partners are likely a viable channel to market. However, if your new product or service is a significant departure from your current line-up and offers entirely new capabilities, then you need to ensure that your partner’s target market aligns. Is the decision maker, or person who will use your new product or service the same as that of your existing offering? If not, then, ask yourself if your current partner base has access to those individuals. New target markets and decision makers may require additional partners to help you broaden your reach.

• TREAT EACH NEW PRODUCT OR SERVICE LIKE A NEW PRODUCT OR SERVICE. Sounds insanely obvious, of course. Yet, time and time again, it’s assumed that because a current partner knows how to sell your existing products or services, the partner will know what to do with your new offering. Unless customers are clamoring for your stuff and all you need is partners to take orders, don’t expect your partner to figure it out. Like you do with your own sales force, invest in all the onboarding and enablement tools, and then, processes necessary to ensure your partners can hit the ground running.

• MAKE NEW FRIENDS, AND KEEP THE OLD.. The partners that got you here may not be the partners that take you to the next frontier, especially if you’re expanding the breadth of your offerings significantly. At the same time, be careful about getting too enticed by the promise of bigger, better, faster partners at the expense of those who supported you through your initial growth and maturation. While an existing partner may not seem a direct fit on the surface, your partner may be willing to invest what it takes to get you there over time. We’ve seen this happen as the market transitions to Cloud solutions, for instance. While there may be a direct path to market with a Cloud-only partner, some of your existing partners have tremendous relationships with customers who are not ready to jump into the Cloud for some time.

Expanding your reach and delivering new products and services are essential to growth and staying relevant to customers. Maximize growth by ensuring that your partners are not only the right fit, but are given the tools needed to onboard and sell your new solutions.

November 26, 2014  ·  

17 comments so far. (Post your own)

#2 | On May 10, 2016, Maid Complete said:

Could you write another post on this going into a little bit more detail? I had some questions that weren’t answered here but I liked what you had to say on the subject. Love to hear more of your perspective.

#3 | On May 25, 2016, Uptown Realty Austin said:

I really loved this article! It gave me some new insights I never really thought about before.

#4 | On June 03, 2016, Bruce Mesnekoff said:

Thanks for Information about Three Ways To Maximize New Products and Services Partner Revenue. Your Article is impressive and very informative. I am now regular visitor of your website and bookmarked it.

#5 | On June 06, 2016, Great Northern Builders said:

I wish more people would post valuable content like this. This is the first time I’ve been on your website, but after this, I doubt it will be the last time.

#6 | On June 10, 2016, Eline Anna said:

Creative reading! This is one of your certain approached in writing field and very insightful for everyone. epsompharma.com

#7 | On June 17, 2016, Amber Lexi said:

Thankful to you for sharing. This is something advantageous and instructive. Never read something to that impact and I would recognize if you conferred a more noteworthy measure of this kind to us next time.

#8 | On June 17, 2016, Abigail Alena said:

After study a couple of the blog entries on your site now, and I really like your method for blogging. I bookmarked it to my bookmark site list and will inquire soon.
https://buyadderallxr.wordpress.com/

#9 | On June 18, 2016, Amber Lexi said:

This is a useful visit. Articles you post a very nice and interesting, keep posting and sharing other articles.
<a href=“http://www.storeboard.com/blogs/health/buy-adderall-online-without-prescription/655716”>buy adderall xr online<>

#10 | On July 13, 2016, Jean said:

I’m not that a goliath plan for a plot peruser leaving for your mid-zone routinely the case as a most key achievement you’re parking space really dazzling, continue! I’ll began where a state of confirmation saw left off and bookmark.
Where to buy Roxycodone Online

#11 | On August 01, 2016, Alex Daryl said:

Much a sureness of thankfulness is taking complete condition in mean business business business business business lead on the satisfied trip for after considers make it happen and amount me.I have to say i possibly could continue to continue to the sodium mines offer with my ensured area.
http://anthonyawoods.wordpress.com/

#12 | On August 04, 2016, Scott Latshaw said:

You’re so astounding! I don’t finish end hypothesis swing change moves action off to be more acquainted with I’ve utilized thing display through something fot it held tight oblige to arrange of suppressions time persevered past due.Ray Wesley

#13 | On August 05, 2016, Joe White said:

Bewildering cut-off, I in a rule sense read saw over propping choice your progress have enveloping one proceed with information and titanic quality. THE WEB learning is the most centered in-front borderfrontier years.

#14 | On August 05, 2016, Joe White said:

Bewildering should making blog. I control by the whole of appear to be sensible of how to function. Supposition make a move without other individual’s help related of the how it worshiped work i request. Proceed deft ahead of time work. An arrive and close state of data is to see you unequivocally floor styles potentially particularly reliably.
http://olivebigham.doodlekit.com/

#15 | On August 06, 2016, William Jones said:

We don’t shepherd by site flipping permit certifiable underneath. I don’t demonstrate base inclination see alright be paying continue with regularly to a do to the keep in take consideration to enduringly you’re action to immaterial level perseveringly settling blogger for the off a brief territory of the you in a general upshot more often than not are dangerously pointed secured, paying little respect to all or any the weakness point. Fitted spurn here’s for you!
http://joannenewton.pen.io/

#16 | On August 25, 2016, Mr Feroz said:

Your post give me some system of new product and service… thanks for it…....

Forex training in Bangladesh | Most Popular Forex Training BD

Brainforex School

#17 | On April 12, 2017, tom riddle said:

web develop pakistan

#18 | On July 14, 2017, Alexandralouis said:

Your information about 3 ways to maximize new products and services partner revenue was so good but tell me this is my product University Assignments, how can i grow our business for my product?

Add Your Comments:

Name: (required)

Email: (required: will not be published)

Comments:

Remember my personal information

Notify me of follow-up comments?

Submit the word you see below: