Interaction- Manish Verma, National Channel Manager- India, Eaton Power

An exclusive interview with Mnish Verma, National Channel Manager - India, Eaton Power. Here, he shared his views on their relationships with channel partners and how it is evolving with the changing technology.

1. Can you give us a brief introduction about Eaton and how it works with the channel partners?

Ans: Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, operate sustainably, and help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and society. Founded in 1911, Eaton is marking its 100th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries.

A crucial component of our business strategy is collaboration with its channel partners. We work extensively with channel partners, including distributors, resellers, system integrators, and value-added resellers (VARs), to broaden its market reach and provide solutions to clients worldwide.

The following summarizes the way Eaton engages with its channel partners:

• Training and Support: We provide our channel partners with comprehensive training programs, equipping them with the knowledge and skills that provide them with the details needed to sell successfully and service Eaton's products. The technical components, product features, applications, and installation techniques covered in these trainings ensure that channel partners can provide superior solutions and top-notch customer support.
• Channel Programs: We leverage channel programs to incentivize and reward the performance of its partners. These programs could offer unique pricing, discounts, or performance-based incentives. We encourage our partners to actively market and sell our products and solutions by building mutually beneficial programs.
• Fostering Collaboration and Relationships: We have cultivated a collaborative relationship with our channel partners through regular communication and exchanging feedback. Through these conversations, we aim to effectively adapt to market dynamics, enhance product offerings, and successfully address customer needs.
• Marketing and Sales Support: We work with channel partners on the marketing collaterals that will help boost sales. Together, Eaton and its partners can increase visibility, provide leads, and boost sales.
• Product Distribution: Eaton partners with authorized distributors who stock and distribute its products to customers. These distributors play a crucial role in ensuring that Eaton's broad range of electrical, hydraulic, and mechanical components, systems, and solutions are readily available to end-users.

Eaton's channel partner program aims to create a strong network of knowledgeable and capable partners who can deliver Eaton's solutions to end-users efficiently. By leveraging the expertise of its partners, Eaton extends its market reach and ensures customers have access to high-quality products and excellent service and support.

2. What are Eaton's future strategies for expanding its partner network, and how is Eaton embracing digital technology to drive its growth?

Ans: We have outlined several strategies to expand our partner network and leverage digital technology to drive its growth. Here are a few key aspects:

• Partner Recruitment and Enablement: We aim to attract new partners across different regions and industries. We emphasize on providing robust partner enablement programs that include training, certifications, and resources to equip them with the knowledge and tools needed to promote and support our products effectively.
• Digital Collaboration and Engagement: At Eaton, we foster collaboration and engagement with its partners. We have invested in digital tools and platforms that enable efficient communication, knowledge sharing, and joint problem-solving. We enhance the overall partner experience by leveraging technologies such as partner communities and collaboration software.
• IoT and Data-Driven Solutions: The Internet of Things (IoT) and data analytics are two areas of digital technologies that Eaton is aggressively incorporating into its product line. We enable partners to provide improved monitoring, control, and predictive maintenance capabilities to their clients by creating smart and connected solutions. Along with increasing the value of our products, this digital revolution also gives partners new chances to offer cutting-edge solutions that promote efficiency and sustainability.

Overall, we are committed to growing our partner network by engaging with partners, equipping them with digital resources and capabilities, and utilizing digital technology to spur growth. We aim to lead the power management sector and provide value to clients across the world by embracing digital transformation and building strong collaborations.

3. What are the programs you are running for the existing partners?

Ans: At Eaton, we believe in continuous partner engagement and collaboration. We have Eaton’s PowerAdvantage Partner Program (PAPP) a dedicated program for all our partners globally. Through this program, our partners have exclusive access to resources that will help them build a more efficient and rewarding power management practice which will, in turn, save more time, provide better rewards, and reduce risks.

This program enables our partners to:

• Engage: We not only provide partners with access to the most cutting-edge, technologically advanced products, but we also provide them with all of the resources required to sell them efficiently. Attractive margins, unique rebates, and additional discounts and promotions to aid in deal closing are a few of the program's financial incentives. Additionally, partners who find, develop, and win new Eaton businesses are eligible to receive financial incentives through Eaton's Deal Registration Program.
• Empower: We are committed to making sure our partners have all they need to thrive in the power business, from our national sales and marketing teams to our devoted staff of inside sales engineers.
• Execute: We assist our partners in growing their companies by offering a wide range of beneficial incentives that are especially created to bolster sales. According to the partner’s program level, they receive benefits like leads, access to market development funds (MDF), co-marketing materials, value-driven rewards, and digital marketing campaigns that let them create the ideal sales and promotion plans.
• Educate: We understand that customers turn to our partners for guidance. Hence, we provide a wide range of specialist training materials, like online tutorials, webinars, and program/solution training through our PA Academy, to help them advance their knowledge.
• Elevate: We encourage maximum engagement with our partners. With three levels to our program (registered, authorized, and certified), we make leveling up fast and easy. Accredited members participate in rewarding incentive programs and enjoy greater purchasing discounts.