Ad budgets can be really tight for a small business. Trying to reach a large audience with no money for marketing can be one of the most challenging tasks your business will face. Likewise, competing against companies with massive ad budgets can make it virtually impossible to get your products in
Volume Incentive Rebate Strategies & Best Practices
When it comes to offering partner incentives, volume incentive rebates (or VIRs) are considered the most common. These are also usually the most effective, designed to create a mutually beneficial relationship between vendors and distributors. While incentivizing distributors to achieve high sales
Your Partner Relationship Management System
For many vendors, managing partners can be a frustrating process. Small companies with only a few vendors may get away with manual processes or using spreadsheets. However, when the main goal is to grow, this can become rather daunting and costly. For larger companies, dealing with numerous
Best Practices For Managing Successful MDF Programs
Market Development Funds (or MDFs) are funds provided to channel partners designed to use for sales and marketing programs. When the goal is to sell more products, introduce new ones, or increase local awareness, MDF programs encourage partners to do just that. In this post, we share the
Best Practices For Successful Distributor Incentive Programs
Distributor incentive programs can be an extremely effective tool to boost loyalty, maximize profits, and reach sales goals. Properly managed programs are beneficial not only for distributors but vendors as well, leading to: Stronger relationships Repeat purchases Reaching more
Improve Your Ship & Debit Process With Automation
Incentive programs are a great way to encourage distributors to sell more and meet end-user demands. Rebates allow partners to receive money back from a purchase after the sale is complete. Ship & Debits are special pricing agreements where distributors debit suppliers for goods shipped below
Boost Profits & Loyalty With Distributor Rebate Agreements
When relying on distributors to get your products in the hands of your customers, there are a few things that you need to consider. What are you doing to entice your distribution partners to sell? And how will it benefit you? Offering incentive programs for distributors can make a
How to Create an Effective and Resilient Supply Chain
A supply chain is just like any other chain. Kinks can screw it up for everybody, so you want your supply chain to be as resilient as possible. A global pandemic, inclement weather, you name it – just about anything can disrupt your chain and throw your whole system into disarray. And a system in
5 Tips to Boost Morale and Improve Channel Sales Performance
Low confidence can chip away at your channel partners' sales performance, and the result is one that will probably be a drain to your bottom line. As the late football great Vince Lombardi once said, “Confidence is contagious and so is lack of confidence, and a customer will recognize both.” So,
How to Shorten Your Channel Sales Cycle to Increase Revenue
Every salesperson’s dream is to shorten the time between generating a lead and closing the sale. Trust me when I say it is easier said than done. But the quicker you get your customers through the sales funnel, the better for your business. A shorter channel sales cycle frees up time for your sales
Guidelines to Build or Reboot Your Reseller Partner Program
There are undeniable benefits to channel partnership. Brand recognition, more revenue, and increased ROI are just a few. Understand that building any channel partner program takes work. But you are in luck because we have outlined steps to help you along in creating your reseller partner
B2B Value Proposition: The Importance and How to Create One
As a vendor, your brain is constantly computing ways for your business to stand apart from your competitors. Competition is stiff out there in the B2B world, and you must make your business – and yourself – desirable to any potential channel partners. You can start by creating a bomb.com value
Channel Sales Performance Management Best Practices
Channel sales performance management is not for the faint of heart. There are many things to consider, including how you will manage each of your channel partners and their respective teams. Your sales channel partners are integral to your channel system. So it is in your best interest to set them
Best Methods for Achieving Accurate Channel Sales Forecasts
How wonderful would it be to predict the future with even the slightest chance of accuracy? Welcome to channel sales forecasting! Sales forecasting provides a Back to the Future foundation for leaders’ decision-making about business operations. It also directly impacts how leaders make informed
Important Components of a Channel Management System
According to the World Trade Organization, a whopping 75% of global trade is conducted through indirect channels. So, if you’re conducting business through a channel system, you’ve already got a spot among the popular crowd. However, with the constant changes in the economy and in how businesses
20 Questions to Help Understand Your Channel Relationships
You’ve done your research and selected the right channel partners to build out your channel ecosystem. But how much do you really know about channel partner relationships? The fastest way to partner satisfaction is by building and maintaining your relationship with them. And satisfied channel
SPIF Software – How to Get Better Data and Detailed Analytics
Data doesn’t mean much without analytics, and the type of SPIF software you are using can make or break your channel sales incentive rewards programs. Without detailed analytics, how would you measure ROI to even know if your SPIF is working as designed? There are a ton of advantages to
Factors to Consider When Building B2B Partner Programs
We are quickly approaching the end of the year, and 2020 has been nothing short of a doozy. But one thing that remains the same is the fact that B2B partner programs still make the world go round. With ease, if done right. Selling products through third-party partners extends your products to every
How to Manage Your Partnership with Distribution Partners
If your business is pumping products through a channel pipeline, then you already understand that it is a massive undertaking. But are you doing the best to manage your partner relationships? If not, you could be at risk of losing your partnerships, which will most definitely put a kink in your
How to Measure Your Partner Program KPIs
We're here to give you the rundown on the best ways to measure your partner program's KPIs. Key performance indicators, or KPIs, are used by many businesses’ that sell thru the channel to measure the performance of their channel partners. It’s rather simple: You set a goal. You put tactics in