• Channel Partner Management – Key Considerations To Keep Them Profitable

    In order to keep channel partnership programs profitable, you must make sure that your channel partner management strategies are continuously evaluated and refreshed for optimal performance. Here are some key considerations to help you get the most out of your channel partner programs.

    * Create and Maintain Valuable Marketing Materials: Throughout the selling process it is critical that the sales team has access to the most up-to-date marketing materials available. A key part in successful channel partner management programs is to make sure that your marketing collateral is current, and that messaging is aligned with market trends and pain points. In addition to making available impactful marketing materials, make sure they are easy to find and download, and continue to implement awareness programs directing channel partners to these resources.

    * Streamline Lead Generation / Opportunity Management: With channel partners, it is not uncommon to see many leads be handed over, only to sit untouched. Often times this is because a large amount of those leads that have been turned over, have not been prequalified, and many turn out to be a dead end. This unfortunate occurrence, when experienced in large volumes, causes channel partners to make assumptions about the quality of leads received, reducing the likelihood that they will follow up in a timely manner.

    Avoid these assumptions and ensure your leads receive timely follow up. Before passing leads on to channel partners, take the prequalification process into your own hands. With a good inquiry management process in place, you will be able to better direct leads to the most qualified partner, resulting in increased motivation for you channel partner to pay special attention to leads they receive. Note The Lead Dogs provides channel partner management services for several clients – and in many cases, a portion of our services are focused on lead generation and inquiry management so the channel partners get highly qualified leads. Read more about these services>>

    * Implement Compelling Incentive Programs: For successful channel partner management, you need to depend on your partners and remain confident that they are doing what it takes to bring in and close deals. To motivate partners to bring in more self generated leads and help close sales, implement a variety of performance driven incentive programs that incent throughout different phases of the sales cycle. Doing this will not only encourage the sales team to make greater efforts along the sales cycle, but will also make them feel as if all of their hard work has paid off.