Channel Partner Management Pointers

In the highly competitive and global economy, manufacturers, especially in the Information Technology world compete to get the largest slice on the consumer pie. Competition means survival as well as staying ahead of the pack. Manufacturing companies, software development, and other producers need marketing allies to compete and increase sales. That marketing allies are called channel partners or resellers. Resellers are firms that sell the manufacturer's products or services to the end users or consumers. What companies have to realize is that recruitment is not the end of the partnership; when the papers are signed and handshakes are over and done with, the process has just begun. Like a marriage or a friendship, as long as the business is alive and kicking, the partnership is evolving and changing.

In order for the partnership to last and prosper, channel partner management is required. There are practices and pointers to help guide the company in dealing with their partners and here they are:

* Knowledge. The channel must know your product and be up-to-date with the latest technology. Software companies develop products almost every year and sometimes even just months after the latest version came out. What the partner must be aware of are the constantly changing versions of the product or service they are selling. The internet has made it possible to predict or preview a product that is not even out in the market. Consumers today are very information savvy. If the partner cannot keep up, the buyer will know and will be turned off by the lack of knowledge.

* Connection. The partner is not obligated to feel loyalty towards the company but it certainly helps a lot. The relationship between the partner and the company must be built on trust and respect just like any other relationship. They have to connect in order to promote the company's products and services better. If the salesman believes in the product, the easier it will sell.

* Access. Vendors usually have a marketing department ready to promote any new product or service. It's a good idea to provide the partner with access to the marketing programs. Access to marketing campaigns will mean that the partners and the vendor are in the same page and are in-synch with one another.

* Big Picture. The business plan is an important tool to any business. The plant outlines the company's future and growth and an important part of that growth relies on the partners. The channel partners should be included in the plan and their roles should be clearly defined. Omitting their presence in the business is to have an incomplete picture of what lies ahead.

* Independence. While the importance of channel partner management is emphasized time and time again, the vendor has to let the reseller sell how they see fit. Giving them a chance to grow without hindrance from the vendor is a good way of ensuring development for both parties.

* Channel Programs. Partners need MDF (Market Development Funds), and Deal Registrations to help with sales. Another useful tool for the partnership is partner portals. It can help with lead forwarding and communicating up to date information from the vendor.

* Channel partner management is an important aspect of the business that cannot be taken for granted. All it needs is a little time and attention from the vendor and cooperation from the reseller. In the end, everyone benefits from the relationship and everyone profits.

Channel Management Strategies - Maximizing Sales Channels Through Partner Relationship Management

Sales channels being agents in distributing products to end-users, comes in various forms from direct, to web, to the traditional retail environment. Competition is tough and I mean when it comes to generating sales. So what do successful and big time sales channels do to maximize their productivity level? What type of approach do they use in doing business? One way is through managing their partner segments, in the sales and marketing lingo this procedure is called "Channel Management".

It is a process by which a company formally creates a program for selling and servicing customers with a specific partner. Where specific segments for customers is assigned by studying and taking consideration of factors like customer's need, buying pattern, economic status and the likes. To improve sales and productivity companies try to devise an effective channel management strategy.

An effective strategy in Partner relationship management could make a great positive impact in the company's status. One thing, there will be an alignment of customer needs, services, and agency priorities which will greatly improve the company in reaching their goals. The cost efficiency of service delivery across multiple clouds can also be improved if they are properly managed. Another benefit of having a good strategy in managing one's partners is having a seamless, integrated and consistent delivery of services across clouds. The company will also be able to develop informed and prudent future investments will be properly managed.

Coming up with a strategy for effectively managing clouds takes a lot of study and planning. The first step in properly managing affiliates is through segmenting base on the buyer's characteristics. A good program should have the following components.

Goals
It is hard to improve something without setting a goal or objective that must be met within the proposed time frame. Each segment should have specific goals which must be achieve by the end of the program. Always keep track of your progress in related to your goals; always reflect on the objective for both acquisition and retention.

Policies
Constructing well-defined policies for account set up, order management and product fulfillment is a vital component for a partner relationship management program. However in constructing policies, always keep in mind the buyer's characteristic assigned to each segment.

Products
Designating the proper product to each segment could greatly maximize the potentials of your pipeline. Identify which product best fits an affiliate then assign that product to it.

Marketing Program
Devising a marketing program can be complicated. Most companies fail to create an effective marketing and sales program because they base their actions on what their own idea of what their pipelines need instead of following what they really need. Customer surveying is the first step creating an effective sales program, 2nd step is making sure that the actions of the program will be based on the customers' feedback.

Channel Management Strategy determines the success or in some cases failure of a company. However a properly executed strategy could greatly boost the performance of a company.

Channel Partner Strategy - Return the Favor and Increase Your Partners' Traffic

A channel partner strategy is an effective way for a parent company to boost the profitability of its channel distribution network. The partners' role is so important to the channel, but parent companies often forget to return the favor. By using organic strategies for an online search as party of a channel partner strategy, they can allow partners to benefit from increased traffic.

The reason why people emphasize the importance of sales strategies is because the staggering competition of today's marketplace requires companies to gain tactical advantage. In the past, products alone can keep channels afloat. But now, it's not about what goods and services you sell, but rather the method by which you sell them. This is where an effective strategy comes in. It provides companies with a blueprint of getting things done. It is a marketing guide that will lead them towards making the right decisions that will allow them to realize their set business goals and objectives successfully. Usually, these goals are centered on increased profitability, and selling is one of the biggest generators of revenue for any business.

Partners play an important role in the selling and marketing of parent company products. In channel distribution network, they are the ones who greatly contribute to profit generation by selling goods and services down a pipeline towards the end consumers. Heavily versed in consumer needs and demands, they know how to deal with the target market effectively. This makes them indispensable to a channel and companies are usually dependent on their activities. Parent companies usually repay the favor by providing them with the support, programs, tools and resources they need to function well. However, they lack more effort in driving traffic to them. But how will a manufacturer increase the traffic of their partners? They can accomplish this through the optimization and enhancement of partner Google Map locations and websites.

• Partner Page Optimization

Parent companies should create landing pages so that they can help drive more traffic to their channel member websites. This is particularly useful for organic searches that are specific to geographic location. If there is increased traffic, then partners can take advantage of selling more products so that they can realize their own specific business goals, and at the same time help the parent company accomplish its own. The bottom line is that this kind of business relationship should always be mutually beneficial for increased motivation and better results.

• Partner Location Information Availability via Google

The location information of partners should be made available through the Local Business Center of the top search engine, Google. Uploading such essential details will help customers find partners who conduct business in specific, preferred locations. This will help boost sales and increase customer interaction. End consumers will become more aware of whom to approach in case they have needs for a certain product or service.

It is important for various companies to remember that partners are not employees. They are individual businesses that have their own strategies, goals, objectives, mission and vision. This means that they can act entirely on their own accord. It implies that parent companies should give them a reason to perform at their best, because they will not expend unnecessary energy on something that will not benefit them significantly.

Essential Partner Portal Modules

Successful channel partner programs usually have clear channel partner strategy and technology backing their every activity and the technology involved with channel partners are called partner portals. Partner portals are web-based applications usually using cloud technology hosted by third parties with expertise on PRM or Partner Relationship Management software. Specific modules for different purposes create a comprehensive portal to cater to the needs of channel partners and keep them motivated. Do you need such a portal? If you want success for your business, this investment is necessary. Standard modules of a reliable partner portal include:

Partner Profile Page
The very basic things to have are individual pages unique to each partner that generally enumerates their company profile. As an administrator, you will be able to view their business activities, assess their progress and predict sales trends. Partner profiles are important business indicators that will enable you to make informed decisions.

Marketing Resources
Third party software developers of portals create a customizable resource library where channel vendors can easily change the themes to reflect their own company's themes and logos. It is very important for channel partners to have access to marketing materials that could enable them to sell more products.

Business Plan
For every business, a plan is needed to move the company forward. Channel partner strategy plays an important role in the growth of the company so the vendor has to establish game plans that partners can agree upon. Vendors and partner must have company objectives in mind so their activities should be synched towards attaining that goal.

Field Engagement
Disseminating opportunities for your channel partners will be easier with a streamlined partner portal system. Field engagement also includes collaborating with particular channels to secure target accounts. The purpose of this module is to track the progress of the sales activity as well as assign opportunities that will hopefully become deals for the partners. Report generation also allows partners to concentrate on more important activities particularly, sales activities.

Lead Management
This is perhaps one of the most important modules that produce tangible results especially on the sales bottom line. Lead management allows vendors to assign leads to particular channel partners. Channel managers will be able to view the progress the partner is making through their updates so any lag or missed leads are easily picked up and re-assigned.

Deal Registration
The traditional problem of channel conflict is avoided with deal registration. Partners submitting unique deals are protected from other partner and the vendor itself from usurpation. Duplicate deals can be filtered hence avoiding potential competition for the same business from different partners. The system promotes harmonious and trusting relationship between partners and vendor.

MDF Automation
Managing Marketing Development Funds will be automated. Channel partners will be able to directly request MDF from the vendor as needed and the status of their request are easily accessed.

Partner Community
A module for social interaction between partners is a good idea to foster a healthy knowledge and experience-sharing environment where tips and ideas are exchanged allowing for partners' growth and development. Vendor also benefit from having a platform where partners can post their feedbacks so vendors will have an idea on what area they can improve on.

Channel Partner Sales Team

Looking at partner profiles for the right company, creating programs, managing the channel networks, these all need to be handled by a channel sales team. But it is definitely no easy task to get such a team assembled. A lot of companies will already have the resources. With just the right re-assignments, a good team could be assembled. Other companies might have to hire point persons to complete a team right away. So what are the roles that make up this kind of team?

Channel Sales Engineer - One such engineer should be allotted for each major market area. These sales engineers will find it difficult to function well if they all have to keep traveling from partner to partner. These engineers are people who need to be incredibly knowledgeable about the product. Their level of know how should be on par with the channel managers who they would be working with in order close a lot more sales.

Channel Sales Managers - These sales managers will be the ones on the forefront. They will spearhead the entire team. Each territory should have one such manager. They are the ones in the field that should have everything they need to stimulate the growth of revenue by managing the company's accounts. Since they will be on the field, they will be the ones meeting with the partners and communicating with them regarding training and channel program opportunities.

Channel Marketing - Putting together all the partners' info, collateral, as well as updated partner profiles is assigned to channel marketing. Inside sales and sales reps should collaborate in order to create the content that the partners request. A lack of collaboration could result in mismatch in requirements. For example, different marketing personnel make several templates and marketing materials that do not fit under a main theme
The channel marketing team should organize and coordinate trade shows and other events in accordance with new product releases or with new channel recruits.

Channel Sales Representatives - The representatives are the inside section of the sales team. They serve as the anchor to the on field people each assigned to different territories and under the channel manager of the corresponding territory. These sales reps will be the contact person for the partners and their needs. The job covers a whole lot more processes and administration than the on field section of the team.

Inside Sales Representatives - If the company would rather not have reseller sales representatives to manage the sales revenues, then the inside section of the team would be Inside Sales Representatives. Such a strategy will also work for those who want the sales rep role and the inside sales handling role to be done by the same team. Having several of these ISRs will make it easier to handle opportunities and transactions when they come in bulk.

With a complete channel sales team everything will be more organized. Channel marketing, partner profile checking, partner recruitment, and partner development and management are processes that all require the right people in the right roles. Only with an adequate and complete team can a channel network succeed.

Looking at partner profiles for the right company, creating programs, managing the channel networks, these all need to be handled by a reseller sales team. But it is definitely no easy task to get such a team assembled. A lot of companies will already have the resources. With just the right re-assignments, a good team could be assembled. Other companies might have to hire point persons to complete a team right away. So what are the roles that make up this kind of team?