Channel Management Strategies:
The channel itself is at the heart of any sales function since it is primary influence on what consumers experience with a product and what they hear about the product from a source other than directly from the sales team of the organization who are ought to support. At most of the Companies, Channel Partner does not get the same attention as Sales done by its Internal team itself. Most of the Companies focused on investments in streamlining the direct sales rather than focus on developing Channel Partner Sales. This used to heavily impact the respective organization’s go-to-market strategy.
In addition to different partner modes, a business should have a range of deals coverage models to overhaul the needs of these channel partner types and tiers. The same may be done on the basis of their performance. This approach could help the organization’s to identify broad selection of partner types and tiers in a customized, cost-effective and flexible manner.
Effective Channel Management:
When we analyse the various factors that are influence the sales force either by internal sales team or Channel partners, today’s situations are not the same as it was earlier, the Direct Sales team who had face to face meetings with clients and provided the factual response from the ground and timely feedback. It will be other way of round with Channel Partners, who expect the organizations to show their level of commitments to them to make the tie-up a huge success and strengthen the relationship to take it to next level.
Professional Managers who manage Channels used to go with optimal utilization of the Channel practices and will work with them very closely to align them with organization’s strategy at an appropriate cost. They used to show the interest on the Channel Partners wellbeing and take up their feedback on the workable areas, constraints and concerns and speed up the resolution. Their professional collaborative methodologies with leverage of technologies help them to strengthen the tie-ups. This approach will improve the productivity and improvise the efficiency levels over a period of time.
In order to ensure the business continuity Professionals proactively ascertain the level of risks involved and comes with appropriate back-up plan to mitigate the risks before sign-off the contract. Continuous facilitation and knowledge transfers with the channel partners in all the areas of operations that will improve the quantity of trade, response timelines used to be the business secrecy behind the success in Channel Management.
Efforts Vs Rewards:
For an Organization – Sales & Channel Partners are two eyes who are playing crucial role for organization’s success. Recognitions for the hard works used to inject positive energies that will prompt the people to go extra mile. At the same time, the said recognition should reach the respective beneficiaries on time that will increase the touch points. Any delayed recognitions used to create abrasions over a period of time and may end up with cracks in the engagement or bonding that shall be unnoticed.
Building the high-performing Sales force:
In today’s globalized economy and technological advancement state, many organizations tend to target the customer’s world-wide and make their sales force spread across accordingly. To boost the effectiveness, competent Channel Management, identify the potential improvement areas, evaluate, benchmark and collaborate to transmit the concrete ways to achieve them.