Time to Start an Efficient and Lucrative Deal Registration Program
A thorough deal registration incentive is a program built to flourish; a limited or objectively deployed channel encouragement assures catastrophe.
Deal registration is arguably the most valuable and effective incentive program in channel partner marketing.
Why, you ask?
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Well, for one, deal registration demonstrates the power of blending sales and marketing into a closed-loop singular vehicle. The perfect catalyst to efficiency and lucratively instigate partner pre-sale activity as well as “off the shelf” productivity.
The combination of eradicating reseller pain points (i.e., channel conflict) and solidifying the bond of partner enablement (i.e., b2b longevity) makes deal registration an easy choice for manufacturers and vendors to implement repeatedly.
However powerful and obvious deal registration may be, it is not immune to failure. Deal registration requires a methodical approach; a partner program that is designed with thorough dedication and objective guidelines; an incentive that is transparently offered to all partners and done so without mandating endless loops or unreasonable requirements for eligibility.
Although deal registration is a channel industry best practice, a substantial percentage of manufacturers and vendors still struggle to facilitate partner participation. Here are a few reasons why:
- Unclear Margin Advantage – When a tangible, numerical percentage for registering deals is not provided or clearly stated, you can expect resellers to disregard your juicy incentive. Remember, channel incentive programs are marketing strategies, so use terminology that is visually enticing to capture the interest of resellers.
- Inadequacy of Resources –Ultimately, your resellers represent an extension to your own internal sales team. And like your in-house team—who received comprehensive training on product functionality, customer FAQs, go-to-market strategy, executive support and technical consultation—they mandate the same or similar treatment. An inability to provide resellers with competency for registration risks not only program failure but demotivation to sell.
- Questions on Eligibility—What are the rules and objective parameters established by your company in order for resellers to participate in deal registration. Having an “all applies” approach to deal registration risks a catalog of potential and harmful issues; for example, erroneously submitted registrations, unwarranted partner compensation; channel and territory conflict; incapability to distinguish end-user and/or market trend of a product; etc.
- Poorly Designed Partner Portal Platform—Like you, your partners are exceptionally busy. If your incentive is more of an inconvenience and less of an incentive, you can expect your deal registration program to suffer. Confusing partner portal platforms are largely to blame for this common b2b dissatisfaction. It’s important that your user interface is easy-to-use and highly intuitive; in addition, registering opportunities should be simple and preserve an “A to Z” formula.
- Elongated Turnaround Time
Within any moment, an opportunity can vanish into the channel abyss. Partners depend on a timely, methodical process where their proposals are quickly reviewed and responded with a “yes or no.” If a registered deal is not responded within a 24 hours’ window, it shouldn’t be an available incentive.