Attempting to manage a channel partner network? Swamped in the administrative tasks that accompany network complexities? Unable to break through the data to find out what is really impacting your channels?
You’re not alone! A study from Aberdeen found that 1/3 of organizations support indirect sales channels, but struggle to provide their channel partners with the technology and content that they need to sell effectively (Accent Technologies, 2016).
This is why it’s time to recharge your partner network with channel enablement!
In today’s shifting B2B marketplace, it’s no secret that efficient channel partner management is critical to your revenue success. When a channel partner network is utilized correctly they can be a vital component to your sales success, improving revenue and allowing your business to expand globally.
When maintaining a sustainable partner network there is no such thing as a one size fits all solution, especially in larger B2B organizations! This is because every organization has their own unique problems, channels, and customers, and there is often misalignment or disorganization when it comes to delivering tools or content.
For example, “at best, each [channel] partner comes up with their own marketing message and sales tactics, creating a disjointed company image and wasting significant business resources on redundant materials and efforts. At worst (and far more likely), the channel partner moves on to other products that are easier to sell.” (Accent Technologies, 2016).
In order to enable your channel partners to fulfill your business needs you must properly train them to sell or resell your service, and you must arm them with the best tools for the job. This includes information and content about your products, buyers, business models, and more (CGS Inc., 2015).
This is why we need effective channel enablement!
Wait a minute… what is channel enablement?
Channel enablement is the process of empowering your channel partners (individuals or organizations who sell your products or services) to improve the way they sell, to increase revenue, and to expand your business (CGS Inc., 2015). This is typically accomplished by using a sales enablement platform with channel enablement features such as content management, analytics, and presentation tools.
The main objective of channel enablement is to help channel partners operate independently while always maintaining branding and message alignment. Channel enablement empowers you to handle the details of your partner network and regain control of your program, making life easier for you and your partners.
The benefits are clear, according to Aberdeen Research, when channel partners are empowered with channel enablement platforms, they achieve:
- 28% shorter sales cycles
- 13% more sales reps achieving quota
- 12% higher lead conversion rates
- 10% better attainment of team quota
- 8% higher acceptance of marketing leads
- (Accent Technologies, 2016).
Recharge Content Control
Your responsibility as an organizer of channel partners is to provide them with content toolkits full of the relevant information that they need to sell your products or services. A channel enablement platform is an efficient way to distribute, advertise, and track these toolkits (Elastic Grid, 2014).
These content toolkits should contain a comprehensive range of internal partner facing, and external customer-facing assets. Including, professional digital campaigns, personalized emails, co-branded presentations, current case studies, automated ROI calculators, and other powerful communications.
Additionally, you should provide your channel partners with professional training modules, to improve their understanding of your solution, turning them into skilled resellers.
A channel enablement platform is a convenient way to store and distribute your content to all users, channels, or groups, no matter where they are in the world, from one simple platform. With channel enablement you only have to update, create, or delete an asset once, and that change will be synced to all users with access to that asset. Alleviating the stress of having to manually update thousands of pieces of content and worrying about out-dated materials.
Recharge Sales Insights
To ensure that your channel partner network is successful you must have unprecedented clarity into channel partner activities, including efficiently monitoring and managing key accounts.
The best channel enablement platforms offer comprehensive analytics, such as insights into user behaviour, content usage, and presentation tracking. These analytics allow you to make critical decisions and determine the best communication strategies for your channel partners to help them reach and convert your customers.
There are many benefits to having an efficient channel partner network; one in particular that is worth noting is the global capability. With established partners set-up around the world you no longer have to worry about cultural differences or language barriers, because your partners can localize content deployment. Channel partners allow you to target new leads and customers from a diverse pool, improving global reach and revenue (CGS Inc., 2015).
When going global with your partner network it’s important to have a channel enablement platform, because when content is inaccessible it exacerbates channel sales, creating an inefficient partner network that is a drain on valuable time and resources. Inaccessible content can also lead to users creating and distributing their own off-brand materials!
Channel enablement provides content accessibility assurance, providing channel partners with a way to view, present, and share content both offline and online, from one platform. It allows them to only see content that is relevant to them in a specific selling situation, ensuring that what they are presenting or sharing is helpful, pertinent, and appropriate.
One platform for everyone!
Channel enablement is a one-stop-platform that helps your channel partners to improve their understanding of your solution, to allow them to work with prospective buyers, and to close better deals more often.
If you're interested in learning more about the stratgies for building an effective channel partner network or the benefits of a complete channel enablement platform then contact one of our business development representatives today!