As sales VP for an emerging growth company, you understand that your channel partners play an invaluable role in your sales process because they not only represent your brand but act on your behalf (often as the voice and face of your company). Under your sales direction, your channel partners establish strong customer relationships by listening to customer needs, offering personalized support and ultimately providing products essential to their success. However, your channel partners have been neglected by your growing business structure due to a lack of resources and automation prohibiting comprehensive customer service and sales. In addition, your company’s paper-based reporting methods have only worsened the problem by cluttering your communication channels and creating an immense administrative burden for all of your sales people.
As your company continues to grow – so will problems in your communications. In today’s fast-changing market, your existing issues will continue to escalate. Such as; your end-customers will continue to raise their demands, your channel partners will continue to adapt to their needs and your partners will be left with a limited ability to track all of their activities and opportunities. Unfortunately, this often results in flawed sales systems that focus only on their top performing channel partners who generate the most revenue for the company, leaving the remaining partners virtually untouched and ineffective. As the sales leader for an emerging growth business, it is your responsibility to evaluate and implement a solution early on which prevents such outcomes.
Such a system should at least:
- Make it fast and efficient to on-board new channel partners
- Manage lead registration and Improve lead distribution which will decrease channel partner conflicts
- Provide sales incentives for your channel partners. And, sees who’s reacting to which incentives.
- Deliver training and certification programs. Know who’s trained to represent you well.
- Enable regular two-way communication so your company remains top of mind with your channel
- Reduce channel management costs
- Enable your partners to better service the end-customer
For an emerging growth company such as yours, the most effective solution is found via a Partner Relationship Management (PRM) solution. Utilizing cloud-based technologies and a robust partner portal, you can engage your entire audience of channel partners so that each can be drawn closer to your strategic goals. And, you can get new channel partners ramped up fast. This type of PRM implementation has been proven to significantly boost your channels effectiveness and assist in achieving a variety of the aforementioned, bullet point goals.
Partner Relationship Management solutions can bring an indispensable change to your channel partner relationships by enabling you to see the partner in real-time, understand their needs and provide them with the appropriate resources via a partner portal. This interaction and customization can improve top-line revenues for your company and create a stronger bond between you and your indirect sale team.
Is getting the most out of your channel important to you? To learn more on how a PRM solution can impact your channel sales, partners and revenues, click here.
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LogicBay’s Partner Relationship Management (PRM) Technology is rich with best practice workflows making it easier for organizations to do business with channel partner re-sellers. The result: More engagement and Mindshare. Greater Efficiency and Cost Savings. Alignment with Channel Partners. And, Performance Improvement for the Entire Sales Enterprise.
|Download this premium white paper to learn Channel Management Best Practices – Make it easy for dealers to do business with you, Heighten dealer engagement, Gain mindshare and maximize financial returns. Learn about LogicBay’s 4Core Best Practice Framework including methods for more effectively training and monitoring dealer employee certifications.|
|Link to LogicBay’s Library of Partner Relationship Management White Papers. These white papers provide best practice ideas on a Channel Readiness and Performance Improvement strategies. Topics include subjects such as: Effectively launching a LMS for the Channel, Applying Lean Principles to Channel Management, Channel Life-cycle Management, Partner Portal Technology Unification, and much more.|
|Link to LogicBay’s Library of Client Case Studies. Learn how LogicBay’s PRM Solutions and Technology have created significant performance gains for clients such as Caterpillar, HP, Daimler Trucks and Outdoor Living Brands.|