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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. My answer: salestraining initiatives. Salestraining has grown in importance in the past decade.
For the uninitiated, channel sales refers to the process of partnering with third parties to get your product into the end user’s hands. Part of the appeal of this approach is that it’s a very effective way to scale revenue without having to go through the expense and effort of scaling your directsalesteam. Garbage out.”
Key challenges include: Channel Conflicts: If a distributor sells at a lower price than the directsalesteam, it can create internal competition and damage relationships. Discrepancies between directsalesteams, online platforms, and channel partners can lead to confusion, customer dissatisfaction, and even lost revenue.
Aimed at enabling sales managers to sharpen their abilities, meet team objectives, and maintain a competitive edge, these training programs stand out as transformative experiences that could greatly impact your professional trajectory.
Adapt a new mindset for sales recognition. One major question mark for sales leaders that stands out for 2021 is how they intend to orchestrate President’s Club incentives. As sales organizations think through creative solutions, they’re focused on the need to creatively recognize and incentivize employees.
Onboarding New Partners It is essential to implement a well-structured induction process for new channel sales partners to ensure they are equipped and in sync with the company’s objectives. Secondly, allocate a greater investment in materials for channel partners compared to directsales representatives.
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. By training and equipping them with the proper tools, you increase their confidence.
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. Training and enablement are key.
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