Companies selling their products or services need to be smart when choosing vendors and implementing strategies to avoid poor sales. A Company’s overall sales strategy depends on a good channel sales strategy. So, by implementing a solid plan with the right tools, companies can expand their channel sales team and boost sales.
Following are the steps involved in creating a plan to increase sales:
1. Understand the Goals of Channel Partnerships: Goals not only push channel sales and flourish relationships, but create a better partner experience. So, before you get started with partners’ recruitment and on-boarding process, have complete goal transparency amongst your channel partners and sales teams to drive maximum performance.
2. Consider the 4 P’s of a Winning Channel Sales Strategy: A blueprint for channel partnership is important, as you can not only recruit partners, hire a great channel team, but also get a good chance to maximize your returns. So, when you put together a channel sales strategy with an individual partner, consider the 4 P’s, i.e. Place, Promotion, Product, and Price.
3. Ensure Success at Each Stage of the Partner Life cycle: When partners manage multiple vendors, they expect their experience to be effortless with easy access to information, one-to-one engagement, and personalization. To ensure partners’ success and increase sales, it is important to meet their expectations so that they can keep their focus on selling your service or product.
4. Track Partner Performance: Apart from a winning channel strategy, it is important to have a process that can help you measure partner performance. So, when you track and share partner success, include some metrics such as partner pipeline for the quarter and the year, total revenue driven, total marketing funds used for ROI, and partner leadership scoreboards.
5. Build the Partnership Leveraging Sales Cloud and Partner Community: With a partner community, your partners can find information and get the data they require. Salesforce community cloud allows you to develop a partner community, easily modify and extend the community for each individual partner, set up groups within the community to provide seamless collaboration, share files in context with Salesforce files. You can also customize settings within the community to ensure what data your partners can see and what they can’t.
Whether you want to boost your sales or build your channel management strategy, follow these steps to build a successful plan that can help you grow your pipeline and close deals faster with partners.