If you are greenhorn in the industry of technology and marketing looking to set his own path, you may want to know these few terms that you should really, really understand if you ever hope of competing in the market. As a fellow newbie, I just started to understand this stuff and had a hard time figuring things out. So here goes the definitions:
Channel software
Every channel sales strategy needs one. As the name implies, it is a program developed to organize the different channels that your company has. The channels usually only differ into two: direct selling types and indirect selling types. Regardless, these branch out into more complex and specific branches which have their own properties, like retailers, resellers, wholesalers and telemarketers. The software is basically to help you keep in track of what is happening in the channel network that you possess.
Channel Conflict
When two or three of your channel members have encountered each other over the same prospect, be aware that you may want to change your channel software. This is what it means when there is a channel conflict –two channel forces that you own that are competing each other they supposedly shouldn’t. There are many ways to avoid this but keeping track of your channel management is the best way to do it.
Channel Management
As the name suggests, this is the process of keeping everything under control with the use of channel software. It used to be that the Excel sheets were one of the best ways to list which is to be listed like sales per day, quota expectations and whether they were met, etc. Now, the software provides various functions for managers to let themselves be updated without really looking at every last detail by the end of the day.
Partners Portals
Portals are applications used by the associated members outside of your own company. They provide an all around solution to manual channel sales strategy. The channel members can access the data you have given them and even update their own information on the website. Good management provides this accompanied by other marketing data and their own accounts and passwords.
Showing posts with label channel management solutions. Show all posts
Showing posts with label channel management solutions. Show all posts
Monday, September 13, 2010
Tuesday, August 31, 2010
Why should I Care about Partner Loyalty?
For any business owner, managing your own business is hard and it only gets tougher when you also have to care about other people’s business. I am taking about partners and not exactly their partner profiles. Its basic knowledge in any channel management strategy that administering some of your partner’s operations is a given, especially if your company is considered the parenting one. The channel distribution network is dependent on the performance of the partner. However, just knowing that they are important to keep the business flowing is not enough.
Whether you like it or not, partner loyalty actually plays a big role in this triangular, web relationship. If loyalty is strong within the partners, that would imply that the members are committed enough or sometimes more than willing to make the business work for everyone in the relationship. The more they are loyal to the relationship, the more you can expect your productivity and sales to increase. However, this is often not the case.
So what do we do? If you are someone who ranks high within the organization, there is only one thing to do: inspire them. Although this is easier said than done, there are a lot of ways to do this.
First, putting incentives in various aspects of their performance such as a perfect attendance or a “beat the record” kind of incentive would definitely boost their performance. Competitions that promise and guarantees huge prizes or rewards within the company will also help them in increasing their efficiency at work. Although be aware though, as this type of strategy is a double edge sword because some workers may put down their skills if they usually see the same people winning the contest. Add benefits or privileges to their work. Everybody loves working when they know that their work has something to offer that other people can’t have or do outside the company. Even freebies are a good push to the will when it comes to the labor of hard selling.
The bottom line of this is that the overall business relationship will strengthen, hold and grow if the members are more than willing to improve the status of the company. So for all you managers out there, be more sensitive and understanding to your partners and employees and not merely pay attention to their partner profiles.
Whether you like it or not, partner loyalty actually plays a big role in this triangular, web relationship. If loyalty is strong within the partners, that would imply that the members are committed enough or sometimes more than willing to make the business work for everyone in the relationship. The more they are loyal to the relationship, the more you can expect your productivity and sales to increase. However, this is often not the case.
So what do we do? If you are someone who ranks high within the organization, there is only one thing to do: inspire them. Although this is easier said than done, there are a lot of ways to do this.
First, putting incentives in various aspects of their performance such as a perfect attendance or a “beat the record” kind of incentive would definitely boost their performance. Competitions that promise and guarantees huge prizes or rewards within the company will also help them in increasing their efficiency at work. Although be aware though, as this type of strategy is a double edge sword because some workers may put down their skills if they usually see the same people winning the contest. Add benefits or privileges to their work. Everybody loves working when they know that their work has something to offer that other people can’t have or do outside the company. Even freebies are a good push to the will when it comes to the labor of hard selling.
The bottom line of this is that the overall business relationship will strengthen, hold and grow if the members are more than willing to improve the status of the company. So for all you managers out there, be more sensitive and understanding to your partners and employees and not merely pay attention to their partner profiles.
Sunday, August 15, 2010
My Tips on Making a Good Partner Portal
As a newbie associate manager, I have learned today that designing partner portals wasn’t that easy of a task. I’ve come to realize that partner portals have become an integral part of any channel management program, not that all software focusing on management needed one
However, I think such portals have an essential role in solving conflicts between channels. I can imagine how hard it is just to think about manually handling these types of organizational arrangements within the company. My boss said there are certain characteristics which I have to follow in order to gauge if a portal would be efficient enough for the business. Now, I figured, I should make my own tips on making a partner portal simple but good.
channel management solutions
First, I think a portal should ensure a free flowing content and that it should be free from any complex sentences since this type of sentence is sometimes more than a hindrance to the reader. Simple sentences give much more emphasis as well as memory retention. The portal should be simple and easy to read but should still convey the accurate meaning of any data or information shared. As they say, less is more.
Being exhaustive of the data is also a factor to be considered in designing a portal. The inclusion of important matters regarding the company, like certain policies found especially in the company, should be given and readily explained. The comprehensive details of the organization should also be given in order to tell clear information and avoid problems at later stages of any business relationship. Being clear about the sales and shipping facts are also a must if they are to be involved in the information exchange.
And of course, lastly, is the security option. Only authorized personnel should be allowed to enter and roam the premises of the portal. I understand that some companies give out more vital information to their partners which should sometimes be kept secret from their competitors. That is also why some companies pay big just for security of their portals particularly if they have many partners. The link to the portal should be found on the main website where it would entail the representative of each company in the partnership to login their credentials.
However, I think such portals have an essential role in solving conflicts between channels. I can imagine how hard it is just to think about manually handling these types of organizational arrangements within the company. My boss said there are certain characteristics which I have to follow in order to gauge if a portal would be efficient enough for the business. Now, I figured, I should make my own tips on making a partner portal simple but good.
channel management solutions
First, I think a portal should ensure a free flowing content and that it should be free from any complex sentences since this type of sentence is sometimes more than a hindrance to the reader. Simple sentences give much more emphasis as well as memory retention. The portal should be simple and easy to read but should still convey the accurate meaning of any data or information shared. As they say, less is more.
Being exhaustive of the data is also a factor to be considered in designing a portal. The inclusion of important matters regarding the company, like certain policies found especially in the company, should be given and readily explained. The comprehensive details of the organization should also be given in order to tell clear information and avoid problems at later stages of any business relationship. Being clear about the sales and shipping facts are also a must if they are to be involved in the information exchange.
And of course, lastly, is the security option. Only authorized personnel should be allowed to enter and roam the premises of the portal. I understand that some companies give out more vital information to their partners which should sometimes be kept secret from their competitors. That is also why some companies pay big just for security of their portals particularly if they have many partners. The link to the portal should be found on the main website where it would entail the representative of each company in the partnership to login their credentials.
Thursday, June 3, 2010
Improving Partner Performance by Combining Channel Management and Partner Portal
A partner portal is a web-based application you can use to improve partner performance. The continuity of excellent performance within a distribution network is dependent on constant improvement. This is severely important especially during these tough economic times where numerous channel-centric industries are experiencing a wide array of challenges and problems.
channel management solutions
The special design of these portals increases the collaboration and communication amongst partners and between manufacturers and partners. Channel members are able to gain access to important information, resources, leads, programs, incentives and so much more. Moreover, managers will be able to provide them with the support necessary for them to perform optimally and become substantially more productive. Parent companies will be able to enjoy an increased transparency of operations and performance. They will be able to identify high-performing and underperforming affiliates and act accordingly.
However, a company that is equipped with the most recent and best technology, solutions and software cannot successfully vie for success. This is because having a partner portal is not enough. Business owners should do well to use the best strategies in channel management and combine it with an excellent partner portal. This is the best way to overcome a variety of problems such as the lack of communication and collaboration across a channel, failure to collect and analyze appropriate data, lack of business alignment, the vendors’ tendency to focus on high-performance affiliates, and unappealing incentives.
With the help of channel management strategies and a partner portal, companies should do the following to improve the performance of partners: look beyond performance; collect and analyze the right kind of data and information; communicate and collaborate effectively; and provide rewards and incentives. Achieving all of this will most likely guarantee a significant improvement in performance. A great tip that all channel-dependent companies should remember is that partners are essential to the distribution network and deserve fair treatment.
channel management solutions
The special design of these portals increases the collaboration and communication amongst partners and between manufacturers and partners. Channel members are able to gain access to important information, resources, leads, programs, incentives and so much more. Moreover, managers will be able to provide them with the support necessary for them to perform optimally and become substantially more productive. Parent companies will be able to enjoy an increased transparency of operations and performance. They will be able to identify high-performing and underperforming affiliates and act accordingly.
However, a company that is equipped with the most recent and best technology, solutions and software cannot successfully vie for success. This is because having a partner portal is not enough. Business owners should do well to use the best strategies in channel management and combine it with an excellent partner portal. This is the best way to overcome a variety of problems such as the lack of communication and collaboration across a channel, failure to collect and analyze appropriate data, lack of business alignment, the vendors’ tendency to focus on high-performance affiliates, and unappealing incentives.
With the help of channel management strategies and a partner portal, companies should do the following to improve the performance of partners: look beyond performance; collect and analyze the right kind of data and information; communicate and collaborate effectively; and provide rewards and incentives. Achieving all of this will most likely guarantee a significant improvement in performance. A great tip that all channel-dependent companies should remember is that partners are essential to the distribution network and deserve fair treatment.
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