Growth is – or should be – the objective of all businesses, particularly in the channel. Solution providers’ benefits in vendor channel programs are often tied directly to their ability to sell more products and services. And vendors are always pressing their partners to growth their businesses, as growing solution providers mean more revenue for them.
The 2112 Group and Channelnomics recognize the challenge solution providers have in defining and plotting growth. To help solution providers, they’ve developed the “Channelnomics Growth Calculator,” a free Web-based tool that provides solution provider with a means for not just setting a growth goal, but understanding the milestones and how growth ambitions compare to the rest of the channel.
The challenge may solution providers face is how determining what growth really means and how to get to growth targets. Research by The 2112 Group finds 90 percent of solution providers are investing in growth and more than two-thirds of the channel believe solution providers should have a formal growth strategy.
However, only one-half of solution providers say they have formal growth strategies, and only one-third have a business development plan.
When it comes to growth goals, solution providers don’t have an answer. Growth is often seen as something organic, in which doing more than the previous quarter or year is seen as acceptable. For many solution providers, growth goals are often elusive as they have trouble establishing milestones.
The Channelnomics Growth Calculator, supported by Ingram Micro, provides users with a custom report that explains the performance standards for achieving their goals, as well as useful resources for achieving growth.
The Channelnomics Growth Calculator is available to all solution providers. In addition to the individual reports, users will receive a quarterly report showing general channel growth trends.