A Channel Partner is an external organization or individual that collaborates with a business to market, sell, or distribute its products or services. Channel partners act as an extension of the company's sales and distribution network, helping them to reach new customers or markets.
This involves:
- Selling or reselling products and services
- Providing end-user support and maintenance
- Expanding brand presence and market reach
In practice, businesses engage channel partners to leverage their expertise, customer base, and market influence. This partnership allows businesses to scale operations, reduce overhead costs, and increase sales efficiency.
Channel partners are critical because they not only contribute to revenue growth but also enhance market penetration and help build long-term customer relationships. By working with trusted partners, businesses can achieve strategic goals while fostering mutual success.
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Case Study
TMT: Delivering Outstanding ROI and Global Sales Performance
Learn how 360insights worked hand-in-hand with an Information Technology Manufacturer and Fortune 100 Company to integrate partners globally and strengthen long-term relationships.
Using our Channel Success Platform™, partners saw an average of 226% more sales after one month with the program and a 41% increase in the rate of active partner purchases.