Best Practices Articles
The Right Deal Registration Program Can Boost Your Channel Sales

The Right Deal Registration Program Can Boost Your Channel Sales

If you are selling through the channel, then chances are you have a deal registration program or are considering one. The rationale for putting together such a program is basically two-fold. First, drive accountability, visibility and predictability from the partner base to own a set of opportunities and close them. Second, protect the end customer (buyer) from being pursued by too many channel partners for a specific opportunity. However, in addition to these two primary reasons, there are multiple other factors that make deal registration important.

In most cases, the intent of deal registration is to reward specific partners who are pursuing a business opportunity in a focused way, and prevent any potential conflicts with other channel partners and the vendor’s internal direct sales force when it comes to that pursuit. However, despite this simple and focused objective, deal registration programs often fail to work properly—and when they don’t work properly, they really can’t have any positive impact on sales.

In an earlier article I discussed how deal registration can drive partner satisfaction, so I won’t belabor that point here. However, I do want to discuss briefly a few factors that can seriously impact—in a positive way—channel sales. These are tied to the following areas:

  1. New product launches – Instead of rolling out a specific new product or service for the entire channel, you may want to pick a specific geography or a group of partners selected for certain opportunities. While your mass marketing engine may be driving leads from all of over the place, when it comes to closure you may want to distribute those leads to a specific set of partners to pursue, and make sure when they do so their efforts are protected via deal registration programs.
  2. New customer acquisition – Perhaps you are trying to expand your current customer base and incentivize your partner base to bring in new accounts. In those cases, if a partner brings in a new account from their existing installed base, you very likely have to protect those relationships for a certain period of time via your deal registration program. In fact, it may make sense to broaden that from deal registration to an account registration program. It is essential to build trust with partners who bring you new accounts and ensure they are not threated by the possibility of losing their installed base to another channel partner.
  3. Existing product sales boost – Sometimes your flagship products or services may be floundering because your partner base has lost its focus and is trying to do too many things. We all know that it happens from time to time. In response, you may want to bring focus back to your core products and services by providing extra margin or training or some other incentive mechanisms. As a part of that effort, you can provide partners that bring in deals above a certain size or contract duration with extra points or some other kind of reward. This kind of incentive can light a fire under partners and generate big deals—provided that the partners know your true intent.

I could keep going and discuss various other aspects of deal registration programs, and I will do that in subsequent articles, but here I just wanted to take a moment to share three simple examples of how a deal registration program can incentivize partners to sell more when the programs are thought through. In addition to providing protection to partners when they bring opportunities and end buyers from multiple partners pursuing the same deal, a properly designed deal registration program can truly align a partner’s business interest with your own organization’s interest to boost sales via channel.

For more information, please check this article.

 

Best Practices Guidebook

Partner Ecosystem Management: A Guide to Strategic Tools and Best Practices Thumbnail Partner Ecosystem Management Best Practices
Download Guide

B2B Marketing in the Age of Intelligence Best Practices Thumbnail B2B Marketing in the Age of Intelligence Best Practices
Download Guide

Mastering Co-Selling Best Practices Thumbnail Multi-Partner Co-Selling Best Practices
Download Guide

A Guide to Enhance Channel Sales Efficiency Thumbnail A Guide to Enhance Channel Sales Efficiency
Download Guide

Mastering Affiliate Marketing Thumbnail Mastering Affiliate Marketing Best Practices
Download Guide

The Ultimate Guide to Channel Partner Management Thumbnail The Ultimate Guide to Channel Partner Management
Download Guide

Partner Relationship Management Trends to Watch in 2024 Thumbnail Top 10 Trends in 2024 Partner Relationship Management
Download Guide

Partner Relationship Management Best Practices Thumbnail Building Bridges: Best Practices in PRM
Download Guide

Mastering Channel Marketing: Strategies image Mastering Channel Marketing Best Practices
Download Guide

Digital Marketing Strategy for SaaS Leaders Digital Marketing Strategy for SaaS Leaders
Download Guide

Mastering Partner Management Best Practices img Mastering Partner Management Best Practices
Download Guide

a Unified Partner Ecosystem Management img Maximizing Efficiency and Cost Savings with Partner Ecosystem
Download Guide

AI-Driven Partner Marketing AI-Driven Partner Marketing Best Practices
Download Guide

New Strategies for Channel Management Guide thumb Agency Partners Best Practices
Download Guide

New Strategies for Channel Management Guide thumb New Strategies for Channel Management Best Practices
Download Guide

PRM Software Best Practices & Core Capabilities thumb PRM Software Best Practices & Core Capabilities
Download Guide

AI-Powered Marketing Strategies Best Practices thumb AI-Powered Marketing Strategies Best Practices
Download Guide

Partner Onboarding Best Practices Partner Onboarding Best Practices
Download Guide
All Guidebooks