Much like the internet and social media, Artificial Intelligence (AI) has caught the fancy of the technological world by storm. With digitization increasingly becoming a norm, organizations across the world are upbeat on inducting the latest tech wonders to give a mileage to their business.
Artificial Intelligence along with machine learning is making lives simpler by analysing customer needs and dishing out solutions based on their choices and preferences.
Businesses wearing the AI garb are overcoming repetitive, time-intensive activities by identifying, optimizing & automating processes, thus increasing efficiency and saving labour costs.
Studies say that marketers who are focusing on increasing revenue through AI are at an advantage. Though most businesses use an efficient sales team to drive a chunk of their sales, the significance of channel partners cannot be ignored.
Channel partners are excellent conduits to get in touch with & acquire new customers to extend your brand products and further the image of your business.
They are the fastest route to scale your sales and earn more profits since they are already embedded neatly among your target audience. The right channel partners can bring the same amount of revenue as five or six sales reps. Not to mention the expansion of your business into new markets and customer segments, which would have otherwise burned a hole in your pocket if you went the conventional route of paid advertising.
Channel partners are highly proficient in their trade. They can fathom the needs of customers better and at the same time elevate your business by improving the range of products and services for consumers.
Today, businesses consider channel partners as savvy revenue drivers and are empowering them with AI to augment revenue generation efforts. With the right technology tools like AI and machine learning, channel partners can gain exclusive insights about customers and business competitors and formulate strategies to boost their revenue.
Let’s look at how AI can be leveraged to support channel partners and increase revenue.
- Automate induction and engagement process: Onboarding a channel partner in a business, acclimatizing him with the products and talking about the strategies to be implemented for selling is a time-consuming affair. What’s worse is you cannot avoid that. Thankfully, AI can get that pain sorted by automating the induction journey. With AI, you can tailor strategies according to the learning levels of the channel partner and include lessons on new products and services in the learning process. This accelerates the performance of a channel partner and increases his value.
- Empower them with tech tools: With the advent of AI capabilities, personalization of services has become a new normal. Studies say that 83% of buyers expect businesses to personalize their offerings according to the preferences of users. With the aid of AI-enabled tools, channel partners can get access to various personalized email templates. This will put them at an advantage at selling your products by providing tailored experiences that suit the brand image of your business. On the other hand, with AI, they can optimise their offerings by tapping into insights gathered.
- Share actionable data: AI along with machine learning can show insights by ingesting data gathered from marketing campaigns and come out with winning probabilities. This will help channel partners engage with the right customers by identifying needs from insights. Those insights would enable channel partners to work on different personalized experiences for customers through email and social media.
- Measure channel partner performance: AI can give you powerful insights on the working of different channel partners and how much revenue is generated by each channel partner. With the help of different metrics like partner performance, market spending ad spending, you can strategize your plans and increase revenue accordingly.