Partnering In Growth: Strategies For Channel Success

(MENAFN- Khaleej Times) Partnerships are essential for businesses to grow and succeed in the channel ecosystem. In today's fiercely competitive business environment, the role of partners has never been more important. There are a few key trends driving partner growth: purpose-driven business models, the transformative potential of optimized insights, and adopting future-ready strategies. These trends are changing how businesses work together and helping them achieve more success.

Focusing on purposeful partnerships: Embracing sustainability

Sustainability has become a vital strategy for businesses in the Middle East and Africa. With consumers placing more emphasis on environmental considerations when making purchases, collaborating with purpose-driven partners has gained exceptional significance. Just two years ago, only 58 percent of consumers of all generations were inclined to opt for sustainability over cost. Now, two-thirds of consumers, including in the UAE, are eager to invest more in sustainable products.

Businesses shared a collective responsibility and interest in safeguarding the environment and making a positive impact on the local communities where they operate. Being able to leverage collective resources extends our capacity to make a more significant impact on shaping a brighter future. Furthermore, it propels growth, with 83 percent of businesses recognizing that sustainability initiatives directly create short-term and long-term value for their organization. Sustainability partnerships have yielded impressive business results for channel partners as well. Programmes such as HP Amplify Impact, have played a central role in nurturing positive change and elevating the overall channel ecosystem. HP Amplify Impact has empowered more than 3,500 partners to drive transformative change and leverage sustainability as a competitive advantage.

Furthermore, in 2022, more than 60 percent of HP's revenue met the Corporate Knights standard for sustainable revenue. This success underscores the fundamental role of sustainability as a key business driver. Through collaboration with like-minded businesses that share our vision, we have the potential to generate a significant ripple effect, fostering sustainable practices that strongly connect with our customers.

In this digital era, data serves as the foundation of modern business, offering a competitive business advantage that should not be underestimated. Partners who depend on data-driven decision-making are witnessing growth rates that are twice as fast, and they are also attaining superior sales conversion rates in contrast to those who are not using data insights.

Data analytics partnerships have become imperative for business success. When partners operate in isolation, they often lack access to the extensive data required to uncover meaningful trends. The trend of data collaboration is on the rise, with a recent McKinsey study predicting that by 2025, data-driven companies will practice data pooling to develop more valuable insights for all members. Presently, HP's Amplify Data Insights program grants access to an extensive repository of over 20 billion data points, updated on a weekly basis. By merging partner data with HP's data and employing advanced analytics, partners gain concrete strategies for boosting sales.

Over the past three years, an impressive 98 percent of eligible partners have chosen to contribute data. This collaborative approach allows partners to identify emerging trends, grasp customer preferences, and pinpoint market gaps, placing them in a leading position within the industry.

Navigating the future: A proactive approach

Amidst economic uncertainties and changing consumer behaviours, partners are reevaluating their business strategies. The shift towards online and digital markets has compelled partners to think ahead and embrace a forward-looking perspective. To thrive in these changing times, partners are turning to innovative channel partner programs aimed at boosting flexibility, streamlining operations, fostering growth, and encouraging collaboration. These initiatives are useful in the era of digital transformation, addressing the shifting preferences of socially aware consumers.

Recognizing the importance of empowering its partners, HP has launched a range of new partner benefits and program enhancements within the HP Amplify framework. These efforts are aimed at enhancing capabilities, fostering collaboration, and boosting performance. Notably, the HP Amplify Program sees participation from 99 per cent of revenue partners worldwide, including within the UAE. By stepping up efforts on a channel-focused business model, HP remains committed to adapting its strategies based on customer feedback and its unwavering dedication to driving sustained partner growth.

With a forward-looking mindset and the backing of innovative partner programs, organizations are not only well-equipped to tackle current challenges but also positioned to emerge from them stronger and more prosperous.

The writer is Head of Omni Channel, Middle East, Saudi Arabia and Africa, HP

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