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As a longtime member of the incentives industry, I am often asked what businesses can do to better manage their salesteams and their relationships with their channel partners in the constantly changing world. A closer look at a sales training incentive program. Why is this a trending incentive initiative?
Some of the most successful and influential SaaS companies include channel sales in their go-to-market strategy. For the uninitiated, channel sales refers to the process of partnering with third parties to get your product into the end user’s hands. Channel sales is also a low-cost way to expand into new markets.
The contemporary competitive market poses a formidable challenge to maintain profitability across multiple sales channels. Instead of relying on manual calculations and outdated spreadsheets, businesses can leverage CPQ to implement strategic pricing models that align with market conditions and customer expectations in real time.
I recently caught up with a sales rep for a Fortune 500 company that has rolled out an overly complex comp plan with a complicated series of multipliers and significant number of SPIFFs (Sales Performance Incentives. DON’T pit your DirectSales and Account Management/Customer Success teams against each other.
In this article, I delve into channel sales —a strategy that involves leveraging third-party intermediaries such as dealers and affiliates to distribute products—enabling companies to penetrate new markets without relying on a sizable in-house salesteam.
Conflict can occur for various reasons such as pricing, poor communication, or even deals poached by the directsalesteam. To increase channel sales, it’s vital to keep your product top of mind with your partners. Channel partners should have access to updated, co-branded marketing materials at all times.
This collaborative approach not only enhances overall team performance but also promotes a sense of unity and shared purpose, such as on our training course, FlyMSG sales pro for Teams , for example. For those seeking a longer commitment to growth, consider GetSmarter’s six-week Online Sales Management program.
Those are all things that channel partners, with their established customer relationships, can provide more effectively than directsalesteams alone. Only 20% of channel partners drive 80% of total channel sales, leaving the majority underperforming. What Is Channel Sales?
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