The covid-19 pandemic has impacted businesses all over the globe. The IT industry remains the strongest, and there will be plenty of opportunities that partners have in 2021.
The pandemic has shown that businesses are trying to invest in their IT infrastructure as the digital transformation will survive. Therefore, to assist channel partners in enhancing more business opportunities, we have top trends that channel partners should look out for in 2021.
Hit Digital accelerator in 2021
2020 has been a tough time for everyone; while customer’s pockets have shrunk and projects have dropped, it’s all happening for digital transformation investment.
Gartner group of analysts pointed out: “Companies are accelerating digital innovation to come out stronger on the other side of the pandemic.” Despite a global pandemic, digital investment is growing at a compound annual growth rate (CAGR) of 15.5 percent from 2020 to 2023 and is expected to reach $6.8tn.
According to IDC, the worldwide computing market will reach $25bn in 2024 with a compound annual growth rate (CAGR) of 12.5 percent over the 2019 – 2024 period.
Heel-and-toe shifting to maintain IT infrastructure resiliency
While it’s important to know that the short and mid-term growth should be the primary focus for the longer-term growth in digital transformation.
There will be a long straight track to accelerate into 2021, but it will continue to be chican to steer around as recent experience has shown.
As the IDC forecast has shown, an increase in spending will be time-consuming to return to the pre-covid stage and be tough. The trick is to retain momentum while tackling the obstacles. Formula-1 drivers use a maneuver known as the heel-and-toe technique, which helps maintain a balance between the accelerator and brake as they change the gears down. Maintaining balance is what we need to learn as there is a balance to be struck between digital acceleration – the gas pedal.
In 2021 customers will be looking for a channel partner loyalty program to hit the pedal and accelerate digital transformation. But there will also be a lot of stopping the activity and an urge to secure digital projects.
Customers need guidance to balance digital acceleration in the right places to ensure that digital transformation makes their business more innovative. Here’s where we see three areas in which channels can differ themselves:
- New digital tech Channel engagement: partners can cut the gap with the end customers.
- Adding channel partner loyalty: partners who can add value to the customer supply chain can charge a premium price
- Customization growing: Channel engagement can bring customizable solutions that will win on simplicity and speed
The continuous uncertainty from the pandemic and implementing advanced new digital projects will double the potential risk for some customers. Given a chance, trust can be gained by a channel partner loyalty program if they like to keep going.
No digital transformation without Digital resilience
2020 has had its load of challenges. In short, business disruption and budget cuts have impacted the Channel engagement and will continue into 2021.
Channel engagement must be a master to keep balance in digital acceleration and resilience. From February to March 2020, a 568% growth in malware and phishing and a 789% growth in high-risk registrations were detected by the private sector. The Channel engagement can help customers’ concerns and add value by pre-empting this transformation’s impact and managing these risks.
Digital Dust Will Be an Even Bigger Deal
Every person leaves digital dust imprints – known as digital footsteps – showing hackers how we see the web, the forms we filled out, the Email we give, etc. Tracking the dust, companies harvest the data and using it against us in both good and bad ways, from commercializing, adds in 2021, focusing on our privacy will be a matter of fact.
As more laws must come out to protect our digital dust, companies must let us know what data they have, where it is, and how to ensure privacy-aware governance. There must not be any sweeping of digital dust under the rug.
The salesman is now a customer care pro
Business priorities are changing, and customer adoption has always been significant; with an increase in subscription licensing models, there is pressure to earn customers every day or every year by channel partner loyalty program. Now salespeople are not just selling but building trust. Adopting a customer is the first part of this long game of customer support.
Channel Partners Loyalty Is The New Influencers
The traditional model of reselling is under pressure. Some partners are changing their business to provide more advisory and subscription services, while others try to innovate and sell their new solutions.
Vendors are now challenged to change their Channel Engagement benefits to reward partners that can transform customer decisions to cope with their technology with the customers and help end-users make a purchase. If Channel Engagement can influence the end-customer, companies will have to shift their model and affect users.
2021 has a massive list of changes that many companies, partners, and channels at large – have not changed in the last few years, but they have to do it in such a short time frame. By adopting new technologies and renovating sales strategies, the companies can cope with the post-Covid era. Else, they will never be able to touch the recent highs.