5 Paths To Consistent Channel Growth

“Growth is not just one thing. It isn't just partnerships. It isn't just competition. It isn't just customer experience. It isn't just getting better about selling. It's about all of these things.” — Tiffani Bova

If you want to talk about growth strategies, it’s hard to find a better source than Tiffani Bova. Tiffani is the growth and innovation evangelist at Salesforce and one of the top 50 management thinkers in the world.

I recently interviewed Tiffani on my Channel Journeys podcast to discuss one of her favorite topics – the channel. Driving consistent channel growth in 2020 requires new ways of thinking. Tiffani shared 5 proven paths to channel growth from her bestselling book Growth IQ.

Key Take-Aways

Growth isn’t about one thing. It’s about applying the right growth strategies in the right sequence.

1. PARTNERSHIPS

The question is not whether you should have partners. The question today is, what kind of partner do you need? As business models evolve, we have to continue looking at new partner models.

2. CO-OPETITION

Many vendors have a protectionist, shortsighted view that prevents them from partnering with companies perceived as competitors. Figure out what and who it takes to provide the end-to-end solution that gives your customers the business outcome they are seeking.

4. MARKET ACCELERATION

Market acceleration is about expanding into new markets with existing products. Leveraging local sales and delivery partners is an excellent way to open new markets without the heavy investment of doing everything yourself.

4. PRODUCT EXPANSION

Product expansion is about selling new products into existing markets. Leveraging partners to build new offerings on top of your product or platform allows you and your partners to both focus on what you each do best.

5. OPTIMIZE SALES

Streamlining your sales efforts to increase productivity can be even more effective than adding more sales resources. In the channel, look for ways to automate the administrative tasks that can consume over 60 percent of your channel manager’s time.

Take Action — One Thing You Can Do Today

Analyze which of these 5 growth strategies you will use in 2020 and ask yourself if you are applying each of them in the right sequence. Do you have everything in place to ensure success? Work backward from what the customer needs to spot holes in your strategy. And be sure to listen to the complete Channel Journeys podcast with Tiffani Bova.

About The Author

Rob Spee is founder and CEO of Channel Journeys Consulting and host of the Channel Journeys podcast. Rob applies his channel expertise to help clients create and execute channel strategies to accelerate revenue growth. His global channel experience spans from building channels at startups to vendors and distributors like Arrow, BMC, Carbonite, and SAS. Follow Rob on Twitter and LinkedIn.