How to Build and Sustain an Effective Service Channel Strategy

How to Build and Sustain an Effective Service Channel Strategy

Technology vendors have long looked to channels to broaden their access to markets expand their geographic reach and enhance their skills and resources. While many vendors form channel relationships to sell products, more than two-thirds (69.7%) of technology vendors surveyed by ServiceXRG use channels to sell, deliver and renew support and maintenance services.  This Playbook describes the seven fundamental best practices for developing and sustaining successful service channel partner relationships.

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Technology vendors have long looked to channels to broaden their access to markets expand their geographic reach and enhance their skills and resources. While many vendors form channel relationships to sell products, more than two-thirds (69.7%) of technology vendors surveyed by ServiceXRG use channels to sell, deliver and renew support and maintenance services. Vendors that have active channel programs rely heavily on their partners for critical service sales and delivery functions. The majority (84.4%) of partners that sell service contracts are involved with the delivery of these services and nearly three quarters (73.4%) are responsible for renewing contracts. The success or failure of channel partners to sell and deliver services can have a profound effect on a vendor’s ability to achieve strategic service objectives and meet financial performance goals. Therefore, technology vendors that look to partners to perform critical service functions must have a well-defined and executed channel strategy. A successful service channel strategy for services requires several elements: a clear vision for the role that partners will play, an established program and criteria for attracting and retaining the right partners, the commitment and capabilities to support partner success, and the means to monitor the effectiveness of the channel program and the performance of individual partners. ServiceXRG has identified seven fundamental plays for developing and sustaining successful service channel partner relationships:

 

  • Develop a Formal Service Certification Program
  • Establish Clear Sales and Account Ownership Guidelines
  • Offer Equitable Channel Compensation
  • Insure Effective Skills and Knowledge Transfer
  • Enable Partners with Tools and Resources
  • Maintain Open Communications with Channel Partners
  • Establish Success Criteria and Performance Monitoring Capabilities

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