Today’s business infrastructure is in the midst of an identity crisis
Confusion regarding the Digital Age and its ever-evolving development has coerced executives to reassess their marketing strategies.
Consumers have become reliant on social media as a purchase decision-making-tool, and businesses are finding difficulty “humanizing” their brand that better relates to their audience. The abundance of marketing content showering our every move, whether it be from the computer monitor to the moment we walk outside the door, has grown into a numbingly excessive business practice—and its affect has turned off countless “would be” customers.
In the b2b marketplace, the shift from conventional managerial processes to cloud-based solutions or SaaS (service as a software) providers is imminent. The gap between vendors that deploy cloud-based programs and data storage ‘virtual’ ecosystems—and those that don’t—is only widening. Distributors and resellers are more likely to work with vendors that offer modern channel management services—viewing manual managerial processes as an archaic, counterintuitive business practice.
3 Channel Management Strategies Vendors Can Implement Today: With the acceleration of PRM software providers only increasing, channel partners are becoming more accustom to using technologies that hasten business needs. In effect, vendors participating within the indirect sales funnel not only need to offer SaaS to help manage channel programs, but also implement strategic (and unique) solutions that fit into a specific partner’s business needs.
1.) Portal Training
The business-to-business landscape is convoluted. Entrenched with channel conflict, modification in consumer demand, competitive pricing structures, market undercutting etc.—the business world can be overwhelming. With that said, it’s imperative to develop clear and concise communication between you and channel partners. Walk them through the data implementation process and how to efficiently use each facet of the portal experience. The faster they can digest the complexities within the portal, the more productive your channel will become.
2.) Eradicate Channel Conflict
Channel conflict is one of the most common, yet easily avoidable obstacles in channel management. Nothing might discourage a fruitful b2b partnership more than channel conflict—and many companies seem immune to noticing its negative impact. However, various tools and strategies exist today that can help you rid your sales funnel of channel conflict:
- Implement a deal registration system that provides visibility into the indirect sales funnel.
- Employ a competent channel manager to actively monitor account activity.
- Use a fixed price point (when dealing with direct sales).
- Segment territories and/or “off limits” marketplaces.
- Discontinue direct sales strategies.
3.) Motivation thru Incentive
The ultracompetitive b2b marketplace is just that…competitive. In order to not only maintain, but also transpire new partnerships, your channel programs need to be robust and engulfed with valuable incentives. The more a channel partnership entails diverse promotional opportunities, your likelihood of word-of-mouth referrals increases—and additional opportunities with distributors and resellers whom seek a partnership will surface.
Leverage the Power of Automation Thru Experienced PRM Provider
Computer Market Research (CMR) brings 32 years of experience into the indirect channel sales industry. Through our state-of-the-art automated software, businesses can amplify their B2B marketing efforts via a clear and concise platform that robustly and intuitively assists the managerial process of channel partnerships. From optimizing trade promotions to customizing unique program guidelines, from building effective distribution channels to establishing transparent and objective B2B communication—CMR helps businesses maximize their marketing efforts with distributing partners that is built around a common goal of success. Our cost-effective SaaS application is the perfect tool for any business looking to strengthen their bond with channel partners through innovative solutions, which converts data into intelligence.