The Covid-19 pandemic and the ensuing global shutdown turned the global economy all over the world upside down, and Indian companies were no exception. The IT hardware channel industry has been one of the hardest-hit industries, incurring heavy losses during the lockdown. However, it slowly began to recover with a new synergy.
Much of the credit goes to channel partners who have gone to great lengths to keep the business going. Channel players believed that customer communications, innovative marketing approaches, and support from industry stakeholders were key features of its victory over the crisis.
Although vaccines are being developed and used in many countries, we cannot deny that the COVID-19 pandemic is here to stay for the next couple of years, and industries & respective channel partners must adapt to the new normal.
Channel partners have played a vital role in uplifting the business for many industries during and post-pandemic. The channel partners must adhere to the new working norm with restricted physical movement and less personal interactions.
Although the pandemic has impacted everyone in different forms, it has also made us realize that standard workflows and processes need to be flexible enough to fit any uncertainty.
Some of the key learnings that channel partners can learn from Covid-19 are
Digitization
Digitization is the key for the channel partners to survive. Due to the restricted movement and work from home, the only way to stay connected is through the digital medium. Channel Partners must adapt to a new normal working pattern using digital and virtual mediums to connect and interact with their customers and companies. Digital communication and engaging with the community virtually help in retention and increasing the customer base.
Redefining customer relations
Channel partners should focus on redefining their customers’ relations through innovative means of communications. They should make sure that they are in constant touch with their potential customers. Digital is the new norm, and partners are also getting acquainted with the new way of doing business. The partners can leverage the power of social media to expand their customer base and retain the existing ones.
Adaptability
Adaptability is an important element that pandemic has taught us. Adapting to the new process, way, skills, and technology is very important in trying to sustain the business. The channel partners must adjust to the present situation and upgrade their skills to drive the desired results.
Maintaining sufficient contingency funds.
Maintaining the sufficiency of funds is very crucial for channel partners to survive. The main lesson has been to sustain liquid cash to cover unexpected expenses, and many partners are now focused on keeping enough emergency funds to handle unforeseen situations.
The Final Word
While the disruption caused by the pandemic has brought significant changes to all industries, it has also paved a way towards new learnings and opportunities for many. Many business people have hopped on to Zaggle Propel to incentivize their channel partners’ efforts and engage them in the new normal. If you’re a channel partner and want to experience the next-gen Channel Partner Rewards, Propel is here to assist you. Get a Demo today!
