For manufacturers who want to generate higher revenue, by onboarding new partners and empowering existing ones to sell more.
Most manufacturers produce 80% of their sales through 20% of their partners. Paths to increased sales are focused around onboarding new partners - but this strategy alone doesn’t ensure increased sales.
5 Things Occur
- Partner has immediate success selling the manufacturer product - moves into top 20%
- Partner struggles with store traffic - doesn’t meet sales expectation
- Partner has strong store traffic - doesn’t meet sales expectation
- Partner offboards the manufacturer’s product due to low sales
- Partnership never materializes
The first outcome is really the only one that is optimal - and even this partner will benefit from support to produce more sales - and increase your revenue.
3 Manufacturer Best Practices
For Partners
- Provide marketing support to drive foot traffic
- Provide marketing support to increase end-user demand for your product
For Manufacturers
- Increase partner demand to carry your product