First things first, a traditional channel is comprised of a manufacturer, a number of distributors, and their resellers. Channel sales management is the practice of effectively collaborating with your partners by optimizing channel marketing and communication to grow your channel sales. We suggest the three following steps as a way to achieve a successful channel sales management strategy.
Step 1: Be better at communicating and supporting your channel partners
A great way to stay top-of-mind is to offer the best service and support to your partners. What are their needs, and how can I solve their problems? Understanding the behavior of your partners is the key! A vital essence of understanding is great omnidirectional communication. Partnership is a two-way street.
The better informed you are, the better equipped you will be to support your partners. Get to know how your product is being promoted and what the feedback from the market is. This will not only provide insights into which sales and marketing initiatives that generate the highest returns, but more importantly why it is so. This knowledge enables you to support your individual channel partners and their reps with the materials and product training needed. This will increase the sale of your products and promote them in a manner that corresponds to your corporate brand.
Step 2: Use insights to improve channel performance
At the end of the day, the goal is to increase the revenue, and proper channel sales management should do just that. An effective method is to learn from your top-performing partners. What are they doing differently that is resulting in higher returns?
Using streamlined reporting and feedback is a good method, but combine that with monitoring their activities, such as completed product training, attended webinars, etc. and you have a killer cocktail. These are important mechanisms that can be utilized to benchmark your channel partners. When you have a clear overview, it becomes easy to identify your top-performers' practices and apply them to your lower-performing partners.
Step 3: Save money by automating repetitive channel sales management tasks
Traditional channel sales management is no easy task and it is time consuming and costly. The time it takes to make calls, write and read e-mails is only a drop in the ocean of manual tasks required of a channel sales manager. Another dreaded subject for an already overworked channel sales manager is channel expansion. Onboarding and training of new partners often result in more manpower and man hours.
For modern channel sales management to truly be cost-effective, it is essential to streamline and automate the tasks described above.
A solution that addresses all this and more is our platform Siesta. Siesta is automated partner relationship management. Simplify your channel sales management by standardizing reporting, automating training and gathering and digitally distributing all partner communication in one platform.
Don’t miss out on a competitive advantage and higher returns. Automated channel sales management is the future. Contact us now!