Channel Management Solutions and Methods

Vendors would think resellers are always in search of new technology products from them. The truth is it's the vendors who need resellers more than resellers need their vendors. Channel partnerships would wither away if the vendor is not capable of managing the relationship and that will result to loss of revenue. How important is channel management solutions especially in this unstable economy? Very.

Channel managers and directors are facing tasks that really are vital to the survival of a manufacturing company or the vendor. There are steps to be taken to ensure that the right methods are being followed in dealing with the channel partners.

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Establish clear strategies - In every project, venture and journey, the first thing you define is the objective. It gives a clear goal where all other policies and rules follow. Keep the end in sight to avoid getting loss in this complex business processes. For objectives, vendors must serve the customers. They must offer viable and innovative solutions, concentrate on their core competences and be competitive. Their strategies would include market expansions, regular product updates; acquire new customers, and consolidation of assets.

Evaluate your partners - Evaluate their impact to the vendor by reviewing their coverage or territory in the market, capability to sell the product or services, commitment to the vendor's objectives and their capacity to handle leads especially major acquisitions. With all these factors considered, a channel manager can conclude the total impact and performance the reseller has on the vendor. Educated decisions regarding recruitment, termination and retaining of channel partners can now begin.

Streamline your sales processes - Channel management solutions like partner portals are now available to deliver a more smooth flow of sales activity in an organization. Partner portals are usually web-based software applications where channel partners can log in and register deals, access marketing resources and training videos. The site auto-generate reports that frees partners and the manager from tedious tasks such as producing regular sales reports.

Drive your partner to the right behavior - Keep your channel partners motivated. Provide necessary incentives to encourage high channel sales. No matter how long you have had a relationship with your channel partners, if the reward they are getting does not validate their worth to your company, they would leave in a heartbeat. High performing partners are one of the most valuable assets a vendor can have. Vendors should also provide marketing resources and training to help resellers promote their products to the right customers.

Strengthen team results - Asses all your channel partners' result and see if they are aligned with the company's objectives. Have an open line of communication with you partners. Work with the channel partner who maybe missing the goal but remember that you need to acknowledge their strengths as well.

Channel management solutions consist of innovative technology, interpersonal skills, and financial incentives. Vendors have acknowledged the important of resellers or partners in the overall sales of their products and services. Channel sales have risen up especially in the IT sector where it is most needed due to the improved management strategies implemented. Now it's your company's turn to prosper.

Channel Management Solutions and Methods

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