What to Look for In Partner Portal Pricing

Investing in a partner portal is the right choice when it comes time to scale your business. With many options out there, it can be difficult to narrow down the right portal for you, and how it will impact your bottom line. Before committing to a partner portal, take time to examine their pricing, and the short-term and long-term value that you will get from the portal. Look for a B2B Saas company that can easily, and willingly, speak to the below points to make sure that you’re getting the best value for your monthly spend.

Set Up and Implementation Time

Time is money. And any time that is spent setting up your partner portal and walking through the training is time that isn’t spent on furthering business development. Get a detailed timeline on how long it will take the partner portal to be fully functional, and how quickly your team should feel confident when using it. Are training hours included in an initial setup fee, or are they extra? What if additional training is required? Ask these questions to make sure you don’t get any surprise fees tacked on at the end.

Customization

The level of customization required will depend on your business’ needs, but be wary about being upsold on customization features that might look nice, but not add a lot of value. Do you need a fully branded setup, or is a generic layout suitable for your needs? Can you upgrade the level of customization at a later date, or are you committed to your choice for the long term? Understanding your customization needs before signing up for a partner portal helps you narrow down what options are right for you.

Cost Breakdown

When it comes to the dollars and cents of your monthly bill, make sure you understand why the charges are what they are. Know whether or not you’re being charged per user, or by bulk sign-on. Ask how pricing is impacted if you bring another user on, and how quickly they can get access to the system. Ask if there are discounts for bulk users, or is it a flat fee regardless of the number of users you sign up. While the deliverables and usability of the product are integral to consider, the final pricing dictates your bill at the end of the month.

Contract Terms

The terms of your contract can often have an unforeseen impact on the cost of the partner portal if it needs to be amended for any reason. Understand how long your contract is in place, and look for the nuances in it. What penalties do you have to pay if you break your contract early? Are you guaranteed any price protection if your contract is extended? The fine print will give you a big-picture understanding of any contractual costs that might be incurred.     

A partner portal will help you seamlessly grow your business, but it comes at a cost. Understanding your business needs prior to engaging with a portal provider will help you understand the right questions to ask so that your portal provides you with as much value as possible. xAmplify provides advanced partner solutions your company cannot afford to live without. Learn more about our PRM pricing.

The Next Big Thing in Partner Portals in 2023

Implementing a partner portal is a game changer for many companies. As technology and partner needs evolve, the components of your partner portal need to adjust accordingly. Keep your partner relationship effective and profitable by looking for a partner portal that can provide tools that keep up with demand. 

Cloud Security

The increased normality of a mobile workforce demands that cloud security be a large component of a partner portal’s security measures. With 81% of companies experiencing a cloud security incident, the vulnerability of the cloud is real, and apparent. With a large increase in zero-trust practices across businesses, partner portals will follow. Zero-trust forces credential validation, regardless of the user. 

Partner Experience

The ease of doing business is one of the biggest drivers that influence companies when choosing a PRM. The usability of the product often ranks higher than the profit potential when selecting a partner portal. Partner portals need to implement easy-to-use practices and tailored experiences to stand out in the partner portal space. 

In addition to prioritizing overall experience, PRMs also need to ensure that the experience is as smooth for non-transacting partners. Partners who influence the customer need to be able to have easy access to product data and resources to finesse any customer interactions. 

Partner Analytics

In today’s data-driven world, quantifiable information is seen as an integral way of measuring success. Partner portals need to make data easily accessible, and easy to analyze. A focus on real-time, relevant data that can easily be extracted makes creating reports a breeze. Partners will both be able to understand profitability centers, as well as areas of opportunity. 

Specialization

Related to the importance of easy-of-use is partner portal specialization and customization. Partners don’t want generic portals; they need portals that help them understand their clients, and how they can best be served. To be the most effective, a PRM will provide niched-down resources and information that allows partners to be engaged and enabled to meet client needs and demands. 

Seamless Integration

With businesses requiring multiple applications to effectively run their business, PRMs understand the importance of aligning their product with others on their partners roster. Being able to pull data directly from a CRM allows the PRM to act in the most efficient manner for both vendors and partners. Clients are no longer satisfied with a piecemeal technology stack; they want seamless integration that scales their effectiveness. 

Is your partner portal ready to take you into 2023? xAmplify is poised to optimize your partner relationships with automated and integrated functionality that facilitates sales and partner success. We understand the nuanced needs that you have when scaling with partners. We’re ready to help you have the best year yet in 2023. Contacts us to learn more.

5 Things To Look for When Choosing Partner Relationship Management Software

When it comes to scaling your business, an integral component of your growth strategy will likely include channel partnerships. With that comes the need to manage those partnerships to make sure that the relationship is beneficial to both parties, that KPIs are being met, and that your channel partners are adding value to your company. There are so many elements of integrating and maintaining channel partnerships, that it is almost impossible to manage it all manually without gaps or errors. 

Enter Partnership Relationship Management Software (PRM). PRMs help you seamlessly integrate channel partners into your workflow from onboarding onwards, without missing a step, while also keeping track of metrics. With hundreds of PRM options available, it’s important to know what to look for when choosing a PRM, and how it will impact your bottom line. 

Ease of Use

One of the most important elements to consider when choosing a PRM is how easy it will be for your team and your partners to use. Consider your team’s daily activities, and how the PRM will help facilitate their roles. Do the same for your partners; are training files easily accessible? Can they easily register new sales?     

Implementation Timeline

You’ve decided to use a PRM because you’re ready to continue to scale. Don’t choose a PRM with a long lead time for implementation, or that requires excessive support or costs to install. Look for a company with an engaged team that helps walk you through demos and setup so that you’re not left trying to search for answers to your new program.

Integration of Current Programs

Don’t redo work already in place in your CRM or ERP. A good PRM will allow for easy integration of your files and tools to give you access to all necessary documentation. This will make things easier for staff and partners knowing they are using up-to-date data in familiar formats. 

Functionality for Company Needs

With so many PRMs available, you need to understand what features you want from a PRM, and how they will benefit your company’s growth. Some areas you will want to consider are: 

  • Onboarding: Central location for all training and introductory materials
  • Training: Easy access to training material for varying products
  • Marketing Programs: Ability to share data, launch new campaigns, and automatically co-brand materials
  • Sales Leads: Manage leads in a consistent way that allows access for you and your partners
  • Stats: Define and measure KPIs for success management  

Cost and ROI

The full cost of a PRM cannot be measured solely in monthly charges. Evaluate what processes are streamlined, and how much time will be freed up, allowing you to focus on areas with higher returns. The same will be true for your team as processes are optimized, giving them the flexibility to focus on nurturing their leads. 

Finding the right PRM is a chance for you to evaluate your immediate and long-term channel partner needs, and understand how different features will help you reach your goals. A PRM should help you strengthen your relationships with your channel partners by making processes and procedures easier for you both. 

xAmplify is a PRM designed to make your channel partnerships easier to manage, and more profitable. Set up a time to talk to one of our representatives to see how xAmplify can help take you to the next level. Contact us today.

Will Channel Sales Rule the World?

With channel sales representing 75% of the world’s sales, this sales model already rules the world. But most companies don’t do it until they have proven their direct sales model and have created a repeatable sales process. It’s the great force-multiplier to scale a good operation to great. Channel sales allows for growth, even at a time of economic uncertainty. If you think that you’re ready to add channel sales to your sales program, learn more about how xAmplify can help you create lasting partnerships.  

What are the Pros and Cons of Using Channel Sales?

Companies often hesitate to move to a channel sales program as they don’t fully understand how it works. We’ve broken down some of the most common pros and cons about channel sales to allow you to understand how channel marketing will impact your business. 

Pros

Scale Faster: Between optimizing lead generation, training salespeople, and streamlining closing practices, the ability to scale can feel like an uphill battle. Channel sales let you take the pressure off most of those things, and send them downline to your channel partners. Hiring and onboarding new sales reps is costly and time-consuming; channel partners have numerous reps at their disposal to help facilitate your growth. 

Expanded Customer Reach: Channel partnerships allow you to enter new markets without the costly effort and time that it takes to break into them. Use their current positioning in new markets to integrate yourself into them, without the effort that is usually required. Reach customers previously unavailable to you and expand your presence. Using channel partner marketing in a new market also lends an element of built-in trust to your product as it is promoted by a reputable source.  

Cons

Sharing Revenue: Obviously the largest negative, channel sales means that you share revenue with a third party, instead of keeping it in house as is the case when selling directly to customers. Your partnership contract will outline the specifics of the financials, including the revenue they retain, and any other costs. That being said, with the potential for your channel partner to generate a large number of sales, the overall benefit will exceed the percentage that they retain. 

Less Control Over Your Brand: By giving another company access to your brand’s products, you make the decision to put your brand’s reputation in their hands. A daunting idea. However, doing your due diligence and properly vetting potential partners will reduce this concern. Find partners whose values and mission align with yours. Create clear guidelines about how the channel partnership relationship will work, and use partner relationship management software to facilitate the implementation and sustenance of the relationship. 

A key component to channel sales is enablement or giving channel partners the ability to learn and understand the repeatable sales process your company has developed. The advent of the PRM allows partners to know everything they need to know about your product and how to sell it. That can be daunting for partners. It’s the partner equivalent to going to medical school to learn how to administer CPR or nurse a cut. This is where TCMAs or platforms like xAmplify help. Their enablement platform helps with just-in-time help for partners and micro-learning. These next generation partner communications platforms are revolutionizing how channel teams are working with partners. For instance, xAmplify enables partners with a 360 degree view of customers from the angles of marketing, sales and customer success. Channel management and marketing teams can communicate to and through their indirect sales partners. Plus the entire platform is architected to ensure GDPR/CCPA compliance. No other partner platform is able to do that. This approach helps companies drive greater levels of partnership success and revenue, than ever before while increasing the lifetime value of customers.  Want to learn more about xAmplify, contact us.

Why is Partner Relationship Management Software Critical for Your Channel?

In the ever-evolving professional landscape, and the total integration of cloud applications, using a quality partner relationship software is more important than ever. A PRM takes you from partners to teammates, integrating and managing complementary priorities as you manage goals, targets, and sales.  xAmplify is a PRM designed and built with partners in mind; we eliminate friction, and implement automation for engaging, managing, and educating partners.

What is a PRM?

A Partner Relationship Management program streamlines the process of companies that engage in channel partner programs. PRM software allows for portal management so partners can easily access your company’s program, while also allowing them to access leads, register deals, and analyze sales metrics.  {link to article about PRM}

How does a PRM Impact Business?

Using a PRM reduces duplication of work, and creates a standardized, yet customizable, process for all channel partners. A PRM gives you control of your partner program and allows you to optimize it as a revenue-generating asset.

A PRM establishes strategic business standards and provides easy access through a partner portal where partners can find a number of resources.

Onboard Partners

Training documents and resources can be housed in a PRM to ensure your partners have access to all required onboarding documents. From product orientation to marketing briefs to lifecycle statistics, a comprehensive training program can be uploaded to the partner portal.   

Lead Management

Minimize the duplication of leads through a lead management component in a PRM. Eliminate having to track down a lead status, or asking for updates; both you and your partners can see and share leads as they come in. 

Reduce Length of Sales Cycle

With efficient lead management, and deal tracking, sales cycles are reduced, resulting in faster sales. Deal registration lets partners register deals that syncs directly with Salesforce without any customization or hassle, removing yet another barrier to finalizing the deal.

Partner Insights

Take the guesswork out of your partners’ engagement. Built-in analytics let you assess your partners’ engagement with your program, campaigns, and content. Eliminate partnerships that don’t serve you, and reward ones that do. Evaluate partner growth and impact on revenue from your partner dashboard.

Integrated Content

Marketing asset distribution is made easy with a PRM, as you can create and upload marketing materials directly to the PRM. Reduce the amount of time spent managing marketing materials; partners can download content as a PDF or HTML.

xAmplify’s partner program solutions help you unlock revenue potential across your partners, while also establishing sustainable revenue growth, and end-to-end pipeline transparency. A PRM is a great first step in your program maturity. To learn more about how to digitally transform your channel business, contact us at xAmplify. 

The True Measure of Partner Engagement

Partner engagement is how you know that your partners are invested in you and your products. If your partners are engaged with you and your content, it’s a sign that things are going well. If they’re not, then it’s time to talk to them and figure out what’s going on. 

So how do you measure partner engagement? If you’re like most companies, you do it through the number of times they logged into your partner portal and the number of times they downloaded content. Those metrics are good. They show that your partner is at least logging in and looking at the content you give them, but they’re not the best to measure partner engagement. 

For one thing, they don’t show you if your partners are using your content. Are they sending your lead magnets as campaigns? Is the downloaded content just sitting on their hard drive? Measuring the number of downloads and tracking the number of logins doesn’t tell you that. 

How to actually measure partner engagement

There are 4 metrics that really give you an idea of how engaged your partners are. These metrics measure the actions your partner takes with the materials you give them and lets you know how frequently they take those actions. What each of these metrics measure will be unique to each company, but here are some broad examples. 

  1. Marketing Activities

This metric measures how much partners marketing your partners do on your behalf. Do they send out an email campaign to their customers when you introduce a new product? Do they promote your joint event through social media, email, or both? Are they keeping in touch with their customers via a newsletter that includes your best practices? The more marketing activities your partners do, the more mindshare you have. 

  1. Lead Generation

This metric measures how many leads your partners share with you. If your partner isn’t sharing a lot of leads with you, then it’s time to talk to them. It may be as simple as your criteria for a qualified lead not matching your partner’s criteria or as complicated as your partner feeling that you wouldn’t treat their customer well. 

  1. Social Sales

This metric measures the types of sales and marketing activities your partners conduct and gives your partners an activity score. For example, you may measure the number of cold calls your partners do along with the number of marketing campaigns they send. The higher this measurement, the more engaged your partners are. 

  1. Partner Meetings

This metric measures how often your partner does marketing and sales activities. It takes into account how frequently they have discovery calls, how often they send out campaigns, and how often they cold call prospects. It also measures how often they meet with you. This measurement shows you how communicative your partners are with you and with their prospects. 

xAmplify vs PRMs

xAmplify is a PRM and Through Channel Marketing Automation  (TCMA) platform. Due to this, we measure engagement differently than most PRMs. Most PRMs store partner education material and sales and marketing content. As a result, engagement is typically measured through the number of times the partner logs into the PRM and by the number of downloads for each piece of content. 

With the TCMA features of xAmplify, we measure how many of your campaigns your partner has redistributed. We’ve found campaign redistribution to be a reliable indicator of partner engagement because it shows what your partners are doing with the campaigns you give them. You know your partners are sending them out to their contacts and how often they’re doing it. 

For more about campaign redistribution and the platform, schedule a demo

Conclusion

To truly measure partner engagement, you need to track 4 metrics: marketing activities, lead generation, social sales, and partner meetings. Tracking marketing activities shows you how much your partners are marketing on your behalf. If they’re launching event campaigns to promote every single one of your events, sending their customers an update every time you have a product release, and constantly promoting your new products then they’re as excited as you are about you. 

Tracking lead generation lets you know how successful partners are at generating leads and sharing them with you. If they’re generating and sharing a lot of leads with you, they’re a highly engaged partner with a lot of confidence in how you’ll treat their customers. Tracking social sales shows you how willing your partners are to market and sell your products. 

Finally, tracking partner meetings gives you an idea of how your relationship with your partner currently is. If they’re always receptive to meeting you and proactively asking you for meetings, then you’ve got a great relationship. If they keep brushing you off and never want to meet with you, then you have a problem. 

These 4 metrics will give you a great overview of how engaged your partners are with you and how great your relationship with them is. If you want to learn more about these metrics and how xAmplify can help you measure them, schedule a demo.

Do PRMs Still Work for Today’s Channel Landscape?

In our previous post, we talked about what PRMs were and the benefits of using them. However, with the channel landscape changing, do PRMs still give you the same benefits or is it time to try something different? In this post, we discuss how your partners actually use PRMs, the challenges of the modern channel landscape and what tools your partners might need now. 

How PRMs are actually used

When you check your partners metrics in your PRM do you notice a trend? Are your partners excited early and logging in frequently but then dropping off? Have they complained that your PRM can’t find information, there isn’t anything new, implementing marketing plans is challenging? For a lot of vendors, this is a familiar scenario. 

PRMs are meant to improve your partners’ productivity as they provide the material needed for partners to sell a vendor’s product. But in reality, partners spend hours trying to find the material they need and even more trying to figure out what they should be doing with it. 

The modern channel landscape

The channel landscape has come a long way since the 1990’s. Products take less time to implement and partners are starting to switch from being resellers to managed service providers, who offer support and best practices for their customers. These providers become consultants for their customers, providing information about the products their customers are interested in and helping them find the best fit for their needs. 

Customer demands are changing at a rapid pace and the successful companies are the ones who can keep up. This involves actively collaborating and eliminating friction areas with partners to seize new opportunities, drive growth and generate revenue.

The easier companies can make marketing their products for partners means greater activations and more companies selling their products and services. Key ways they can do this by co-branding, co-selling, complete marketing plans and automation. A typical PRM just isn’t designed for this type of collaboration. 

Going beyond a PRM

Today’s companies need to use platforms that are intuitive and easy for their partners to use. It needs to have the best features of a PRM, while making it easy to market and co-sell. This tool is a combined PRM and Through Channel Marketing Automation (TCMA) platform.

TCMA platforms enable companies to send campaigns and other marketing messages through their partners instead of just handing the messaging to partners and expecting them to figure it out for themselves. These platforms let companies easily and quickly collaborate with partners as partners can add their own material to their vendor’s campaigns. They also allow partners to easily leverage their own networks through the integrations they offer. 

A combined PRM and TCMA platform enables partners to find everything they need in one place. It contains both the benefits of a PRM and the automation of a TCMA platform enabling a partner’s workflow to be seamless. Partners get to learn about their vendor’s product, then use that information to better market their services in co-branded campaigns.  

Here at xAmplify, we were partners once. We thought PRMs were outdated and weren’t designed for how channel partnerships were evolving. That’s why we built xAmplify.

Our platform offers

  • Cross channel and partner activity tracking

Our platform provides detailed and comprehensive analytics on how your partners are using marketing campaigns and the downstream metrics for those campaigns. Plus you get to compare activity across partners. 

  •  Co-branded campaigns 

When you send your campaigns through your partner, our platform automatically inserts your brand and your partner’s logo into video, email, social, event and landing page campaigns. 

  • Seamless syncing with Salesforce

Leads, deals and activity automatically syncs your CRM without any manual entry or customization. 

To learn more about our platform, schedule a demo

Conclusion

PRMs have their place. They’re excellent for storing marketing and sales materials and training partners. They are not designed for the future of the channel sales. PRM +TCMA platform is designed for evolution. These platforms are built for collaboration, marketing and sales. 

What are PRMs?

Partner Relationship Management (PRM) platforms are commonly used in the channel space. But how did they come to be? Here’s a quick rundown of how PRMs came to be, what they are and the benefits of using one.  

PRM platforms are typically self-service platforms. They’re used to educate the partner about the product and used by partners to communicate with and get support from their vendors. They’re also used by partners to request Market Development Funds (MDFs) and to share leads with their vendors. 

The History of PRM

Indirect Sales really took off in the 1990’s with the tech boom. People all over the world wanted server infrastructure, hard drives, databases, ect… Unfortunately, manufacturers like Cisco couldn’t just open up a new office in every region that wanted their products, so they had to find other ways to sell them. 

Distributors are companies who stock a product and sell it to their customers. They were the perfect companies to sell the manufacturers products. However, to sell the manufacturers’ products, the manufacturers had to allow the distributors access to their systems so they could place orders on their clients behalf, submit service tickets and track shipments. But that caused all sorts of problems like distributors having access to systems that the manufacturers didn’t want them to have access to. This created an opportunity. Why not create a separate system for those distributors?

By creating a separate system for distributors, the manufacturers were able to keep their systems private while still giving the distributors what they needed. Eventually those distributors became partners and manufacturers turned into vendors and that separate system became the Partner Relationship Management (PRM) platform that we use today. 

What does a PRM platform contain?

PRM platforms are customized for each company based on their partner programs. However, they all allow vendors to upload and store the content they want to give their partners. Partners can then login, download the content they need and then use that content elsewhere such as in an email. PRMs also offer a deal registration form so that the partner can register any deals and leads they develop for their vendors. 

PRM content storage can be divided into many sections, but here are 4 of the most common ones. 

Marketing 

Your partners will need marketing material to promote your product. Marketing plans, campaigns, social posts, ect… will be put in this section for your partner to download and use in their own marketing system. Partner engagement material such as newsletters will also be put in this section as well. 

Sales 

Your partners will also need to know how to sell your product. Sales enablement material such as price lists, sales scripts and battlecards will be put in this section. The deal registration form may also go in this section as well. 

Partner Support and Management 

Product support guides, documentation and other support material for the product will go in this section. Partner management material such as contracts, onboarding material for the partner program and partner territory assignments will go in this section as well. 

Partner Rewards 

Information about partner rewards will go in this section. This will be information on how to obtain commissions and rebates. If the vendor offers any growth incentives such as bonuses, information on how to obtain them will be in this section as well. 

The Benefits of a PRM?

PRMs offer many benefits. Here’s a non-exhaustive list of some of the benefits you and your partners get from a PRM. 

  • Content is stored in a single place for your partners
  • Promotes trust as partners know that their vendor is giving them support in the form of sales and marketing material
  • Improves your partners productivity as they have access to a lot of information they can use for marketing and sales purposes
  • You can track partner engagement by seeing how many times your partner logs in and the number of downloads each piece of content gets. This shows you which pieces of content your partners are using the most. The number of times your partner logs in gives you an idea of how often they are using the platform. 

PRMs came about because manufacturers wanted to give their distributors a separate system to prevent them from having to access the manufacturers’ systems. As more and more companies got into the channel marketing space, this became the PRM that we use today. PRMs allow partners to access vendor content in one place. Vendors can track their partner engagement by tracking how a partner is interacting with the content they upload into the PRM. PRM content typically consists of marketing and sales material, partner reward information and partner support and management documents.

Deal Registration, the Good and the Bad

Deal registration is a big deal. It’s one of the most important KPIs for the health of your channel. The channel runs on partnerships. These partnerships occur when companies repackage/resell products from another company (the vendor). Partners make money on these transactions through commissions, discounts, etc…In order to ensure they actually make money, partners will fill out their vendor’s deal registration form. 

Having your partners fill out a deal registration form gives you data on a potential customer and lets you know what your partner is offering that customer. With this, you can measure partner performance and reduce channel conflict. Without it, you’re flying blind.

Why is deal registration so important?

Deal registration is a way for partners to share leads and deals they have been developing for you. It also lets them claim a lead for a set period of time and prevent other people including their vendor from stealing the lead. Once that period of time has expired the lead opens back up. 

This is a way to reduce channel conflict as others can’t bypass the partner and sell to that lead for that period of time. Vendors may also offer their partners help in closing that deal. 

Deal registration also offers insights into the partner’s performance. Vendors know how satisfied their partners are and who are their most active partners. Partners know how well they work with a particular vendor and can identify potential areas in which they can improve. This allows both the vendor and the partner to evaluate their relationship and see if it is worth continuing.

How does it work?

Deal registration programs, which are run by the vendor, often offer additional incentives for partners to register the deals they make. This increases the profits of the partner. Each vendor will have their own rules on who can take part in the deal registration program and what incentives they offer.

Elements of a good deal registration program 

A good deal registration program has 3 key elements

  1. Forms

Your deal registration system should be easy to use. Keep your partner’s time in mind. Make sure your deal registration forms are simple, easy to use, and don’t ask for any unrelated information.

These forms should contain the name of the deal, the type of deal, the potential amount of the deal and the estimated close date of the deal. If you are giving your partner the forms through a PRM, they should not need to ask about your partner’s contact details as those should already be in your system. 

 Here’s an example of a simple deal registration form below. 

Caption: xAmplify deal registration form

  1. Rewarding Incentives

Make sure you’re making the process rewarding. Most vendors offer their partners monetary incentives. Monetary incentives can be product discounts, commissions, rebates, ect. 

 If your incentives aren’t the right ones, then your partner has no reason to register a deal with you. They may even take that deal to your competitor if they offer better incentives. 

To make sure your incentives are right, make sure they reflect the degree of effort involved. If a deal is more complex, then you’ll want to offer more of an incentive. These incentives can also motivate less active partners to become more active. You’ll want to think about this and select the most appropriate incentive that works for your partners and you. 

  1. Clear Rules

Your deal registration program rules need to be clear. This prevents abuse. Communicate these rules to your partner and enforce them.

These rules typically consist of the eligibility criteria of a deal, any exceptions to the process, and the potential reasons for rejecting a deal. Each vendor will have their own rules and partners should check them before registering a deal. 

When developing your rules take common scenarios into account. Consider what the rules are for a potential customer wanting to go with a different partner and other such scenarios. This ensures that you have policies on what to do if channel conflict arises. 

Deal Registration Problems

Unfortunately, deal registration isn’t perfect. For most partners, it’s a necessary but tedious step they have to take. Most deal registration programs make that step more complicated for partners by being inconsistent in enforcement, manual forms and having a complicated approval process. This makes protecting the deal more of a burden than losing it. 

Manual forms

Deal registration forms are mostly manual. This makes it tedious for partners as they have to fill out the entire deal registration form each time and with all the information that the vendor requests. Vendors tend to request the partner’s company information, the prospect’s company information, relationship to the prospect and much more. This allows them to evaluate whether the partner is the right one to pursue the deal. 

With automation and integration, the partner only needs to fill out the necessary information such as their relationship to the prospect and what deal the partner plans to offer the prospect. The system will populate other necessary information such as the partner’s company information which should already be in the vendor’s records. Automation also more easily integrates the deal registration form with your CRM so you can review and track the deal registration.

Without it, you would have to either manually copy the information over to your CRM or it would be created as a lead instead of a deal. If it is created as a lead instead of a deal in your CRM, you would have to add in the necessary information in order to change it to a deal. Either way, it’s more work for you. 

Inconsistent Enforcement

Vendors don’t always protect the deals that their partners register with them. Sometimes, the vendor’s direct sales team poached the deal or let another partner work the lead during the claim period. This destroys all trust between the vendor and the partner. The partner will no longer want to work with the vendor and will warn other partners away.

A Complicated Approval Process

Your partners don’t work for you. Partners are individual businesses and have other things to do. They don’t have the time to jump through the hoops your deal registration’s approval process. If your approval process involves the partner documenting every presale effort they made to that deal, then it’s too complicated. Make sure your approval process doesn’t involve much work for your partners. 

Conclusion

Deal registration enables visibility into partners performance. It allows the partner to claim a lead for a set period of time reducing channel conflict. This process isn’t perfect. Deal registration programs can fail if they are too complex or if they aren’t automated. This creates more work for the partner making them less likely to use the program.

To learn more about easier deal registration, contact us.

Reasons Why Your Partners Don’t Send You Leads

Lead generation is an important indicator of partner engagement. It’s a good sign that your partner program is working. Your partners are keeping you top of mind. Yet getting your partners to send you leads isn’t easy. Here’s 3 reasons why your partners don’t send you leads. We’ve also provided 3 solutions and an explanation of each. 

Problem: Lack of trust

Your partners don’t have any insight into your pipeline, so they don’t know what you do with the leads they send. They also don’t have a guarantee that you’ll pay them once the deal is closed or give them the credit. They also might not know if you’ll treat their customers well. 

Solution: Build trust

Be transparent. Explain how your pipeline works. Outline the process of how they get credit for the leads they give you and when and how they get paid. Take their feedback into account and make sure you consider their needs as well as yours. Build a relationship and your partner will be more comfortable sending their customers your way.  

Problem: They don’t know your product well

Do your partners know how the product can benefit their prospects? Can they explain it? If your partners don’t understand your product, they can’t sell it. They’ll miss sales opportunities and you’ll get less leads. 

Solution: Provide training

Personalize a training program for your partners. This will ensure that they understand your product and can explain it to their prospects. They’ll understand the value of your product and find sales opportunities. They’ll get more prospects and you’ll get more leads.  

Problem: You don’t put your partners first

If you don’t invest in your partners, they won’t invest in you. They won’t feel connected to your company or your products. They’re less likely to be engaged and less likely to give you leads. 

Solution: Invest in your partners

Treat your partners as you would your customers. Put their needs first. Talk to them and find out what they want. Provide places for them to build relationships with other partners. Build a relationship with them. They’ll be more engaged and more likely to give you leads. 

Conclusion

If your partners aren’t giving you leads, your relationship could use some improvement. Take a look at your partner program, your product and the way you treat your partners. Look for ways to reduce friction and ask for partner feedback. Make sure you’re investing in your partner and they’ll make sure they invest in you. 

About Us

We were partners for decades and we know what they want. We’ve used that experience to build an easy-to-use channel marketing automation platform. You provide the material, we provide the automation and your partners do what they do best, sell.