How a Channel Marketing Agency Can Help Build Your Deal Registration Program

Introduction:

Deal registration programs can be a great way for brands to incentivize and reward their channel partners for bringing in new business. However, building a successful program can be a challenge. This article will explore how a channel marketing agency can help a brand create a successful deal registration program; it will also explain the benefits of using ZINFI’s solutions for this purpose.

Building a Successful Deal Registration Program:

1. 1. Product Selection: Determining which products will be sold as open versus closed offerings to certain partners is a crucial step in building a successful deal registration program. Open sales give all partners the opportunity to sell a product, while closed sales limit the offering to a select group of partners.

  A channel marketing agency can assist a brand in determining which products to offer as open sales and which ones to offer as closed sales. Factors such as product complexity, partner expertise, and sales goals can all be considered when deciding which products to offer as closed sales. Closed sales can provide benefits such as increased exclusivity, higher profit margins, and greater control over the sales process. However, it is essential to carefully select the partners who will be offered the closed sales to ensure they have the expertise, resources, and motivation to effectively sell the product. Open sales, on the other hand, can provide a broader reach and increase the chances of finding new customers. A channel marketing agency can help a brand determine which products to offer via open sales, taking into account factors such as product demand and market saturation. By carefully selecting which products to offer via open versus closed sales, a brand can maximize its sales potential while also ensuring that partners are incentivized to sell the products that are most valuable to the brand. A channel marketing agency can provide valuable insights and guidance to help a brand make informed decisions about its deal registration program.

2. 2. Designing Commissions and Rebates: Determining the commissions and rebates for each product line and area is a crucial step in building a successful deal registration program. The commission structure incentivizes channel partners to sell the brand’s products, while rebates provide additional incentives for achieving specific goals.

A channel marketing agency can help a brand determine the appropriate commission structure that will incentivize channel partners to sell more products. The agency can analyze the market, the competition, and the brand’s goals to develop a commission structure that aligns with the brand’s objectives. The commission structure should be competitive enough to motivate partners to sell the brand’s products, but not so generous that it becomes unsustainable for the brand. A channel marketing agency can help a brand strike the right balance between incentivizing partners and maintaining profitability. Rebates can also be used to incentivize channel partners to achieve specific goals, such as meeting sales targets or increasing market share. A channel marketing agency can help a brand determine the appropriate rebate structure to incentivize partners to achieve these goals. By determining the appropriate commissions and rebates for each product line and area, a brand can incentivize its channel partners to sell more products, which can lead to increased revenue and market share. A channel marketing agency can provide valuable insights and guidance to help a brand create an effective commission and rebate structure that aligns with its overall objectives.

3. 3. Defining Incentives Structures: Creating incentive structures based on the point of engagement is an essential step in building a successful deal registration program. Offering different incentives based on where the partner is in the sales process can motivate partners to retain and upgrade customers.

  For example, a partner might receive a higher commission for a proof-of-concept sale than for a Phase 1 sale. This type of incentive structure encourages partners to put in more effort and resources to make a successful proof of concept sale, which can increase the chances of retaining and upgrading the customer in later sales phases. A channel marketing agency can help a brand create incentive structures that align with the brand’s objectives and motivate channel partners to achieve them. The agency can analyze the market, the competition, and the brand’s goals to develop incentive structures that are effective and sustainable. The incentive structures should be designed to encourage partners to put in more effort and resources as they progress through the sales process. By incentivizing partners to retain and upgrade customers, a brand can increase its revenue and market share. Creating effective incentive structures based on the point of engagement can be challenging, but a channel marketing agency can provide valuable guidance and expertise to help a brand create an incentive structure that aligns with its overall objectives. By working with a channel marketing agency, a brand can create a successful deal registration program that motivates its channel partners to sell more of its products and retain and upgrade its customers.

4. 4. Driving Behavior Changes: Giving more commission for a registered deal if a partner is willing to invest more time in technical selling, post-sales support, and other related activities is an effective way to motivate channel partners to put in more effort to sell a brand’s products. This approach not only incentivizes partners to invest more time in selling, but it also encourages them to provide better post-sales support and technical expertise, which can increase customer satisfaction and loyalty.

  A channel marketing agency can help a brand determine the appropriate commission structure for registered deals—one that incentivizes partners to invest more time in selling the brand’s products. The agency can analyze the market, the competition, and the brand’s goals to develop a commission structure that encourages partners to provide high-quality post-sales support and technical expertise. This type of commission structure rewards partners who invest more time in technical selling, post-sales support, and other activities that contribute to the success of the brand’s products. Partners who invest more time in these activities are more likely to provide better customer support and ensure a higher customer satisfaction rate.

5. 5. Aligning Deal Activities to Commissions: Linking deal registration and commission amounts to a partner competency tier and past performance is an effective way to incentivize channel partners to improve their performance and reward top-performing partners. This approach encourages partners to invest more time in technical selling, post-sales support, and other activities that contribute to the success of a brand’s products.

  By linking the commission amount to a partner competency tier and past performance, a brand can reward top-performing partners with higher commissions and incentivize lower-performing partners to improve their performance. This approach creates a sense of healthy competition among partners and encourages them to invest more time in improving their skills and expertise. A channel marketing agency can help. The agency can analyze the market, the competition, and the brand’s goals to develop a competency tier system that motivates partners to improve their performance and provides an effective incentive structure for registered deals. By linking deal registration and commission amounts to a partner competency tier and past performance, a brand can create a win-win situation for both the brand and its partners. Partners who invest more time in improving their skills and expertise can earn higher commissions and receive more rewards, while the brand benefits from higher sales, improved customer satisfaction, and increased market share. A channel marketing agency can provide valuable insights and guidance to help a brand create a competency tier system that aligns with its objectives and provides an effective incentive structure for registered deals.

6. 6. Building a clear communication plan for both the internal channel sales organization and the outbound partner base is a crucial step in building a successful deal registration program. A clear communication plan helps to ensure that everyone is on the same page and understands the program’s requirements.

  A channel marketing agency can assist a brand in creating a communication plan that is clear, concise, and easily understandable. The agency can help a brand develop messaging that is targeted to the internal channel sales organization and the outbound partner base. This messaging can include information about the program’s goals, the incentive structures, and the registration process. The communication plan should also include a clear process for registering deals and receiving rewards. This process should be easy to understand and should be communicated clearly to partners to avoid confusion and frustration. Effective communication is crucial to the success of a deal registration program. Clear communication can help to ensure that partners understand the program’s requirements and are motivated to participate. Additionally, clear communication can help to ensure that the internal channel sales organization is aligned with the program’s goals and is working effectively to support the partner base. A channel marketing agency can provide valuable insights and guidance to help a brand create a communication plan that is clear, concise, and easily understandable. By communicating effectively with partners, a brand can ensure the success of its deal registration program and increase its revenue and market share.

7. 7. Measure and Optimize Program Performance: Tracking performance and optimizing a deal registration program is the final step in building a successful program. By monitoring the program’s performance, a brand can identify areas of improvement and quickly adjust to ensure that the program achieves its goals.

  A channel marketing agency can help a brand track performance by providing analytics and insights into the program’s performance. This information can be used to identify areas where the program is performing well and areas where it needs improvement. The agency can then work with the brand to optimize the program by adjusting the incentive structure, the registration process, and the communication plan. Optimizing the program can also involve making changes to the products that are offered, the commission structure, and the competency tiers. Tracking performance and optimizing a deal registration program is a continuous process that requires ongoing attention and analysis. By working with a channel marketing agency, a brand can stay on top of the program’s performance and make adjustments as needed to ensure its success. Using ZINFI’s Solutions ZINFI’s solutions can help a marketing agency become a channel marketing agency and help a brand build a successful deal registration program. ZINFI was recently ranked as a leader in The Forrester Wave™: Partner Relationship Management, Q4 2022 report and received high rankings in G2 Crowd’s 2023 Winter Grid Report for Partner Relationship Management software. ZINFI’s solutions can help automate and optimize a brand’s deal registration program, making it easier for partners to register deals and receive rewards. Conclusion Building a successful deal registration program can be challenging, but working with a channel marketing agency can make the process easier. By following the steps outlined in this article and using ZINFI’s solutions, a brand can create a successful program that incentivizes and rewards its channel partners for bringing in new business.