Channel Enablements ultimate aim is to increase an organisation’s growth, in terms of sales productivity and revenue. Channel sales productivity and revenue are the two most important aspects organisations need to keep their eyes on. Digitizing certain enablement processes is the key to ensuring your channel productivity and revenue continues to grow, after all channel partners account for approximately 60% of your total revenue (Channelinsight, 2014).
Balance Channel Investments
Balancing your channel investments is a challenge, do you invest more into incumbent partners you know will deliver results? Or the rising stars, who with some nurturing have the potential to deliver high growth? The key is to find the optimal balance between the two. With the power of digital enablement platforms channel visibility is increased, enabling managers to pin-point the rising stars. This visibility means one can strategically manage investment in pipeline development across ones partners far more effectively.
Continuous monitoring and tracking of channel data, enables channel managers to ensure there is always an optimal balance between their time investment in incumbent partners and rising stars. Thus revenue will continue to grow, as even when revenue from incumbent partners starts to slow, rising stars will pick up their slack.
Shorter Sales Cycles
Channels need to sell the way buyers are buying. Rambling on about a list of feature specifics is no longer effective, buyers want a customised sales conversation, demonstrating a valuable solution benefiting their organisation’s operations. In order to resonate with buyers content needs to align with the buyer’s journey. Digitizing content which is connected to the buyer’s journey results in a shorter sales cycle, increasing productivity by 56% (Forbes Insights, 2015). A shorter sales cycle enables channel sales people to effectively cover a larger target audience with better content delivery, resulting in an increase in channel productivity and revenue.
Better Onboarding Process
Onboarding new channel sales starters effectively is crucial. After seven months in the position new starters are finally up to speed and delivering successful results. But with digital channel enablement your new channel starters can be high performers from day one. Training new channel sales people takes a lot of time. One needs to shorten this time to benefit as much as possible and a platform like Qotient can do this.
So there you have it, three key factors contributing to overall channel sales productivity and revenue growth, as a result of digitizing certain channel enablement processes. Continuously analysing channel data enables managers to ensure there is always an optimal balance within channel investments so the organisation remains competitive. Digital channel enablement platforms ensure managers sell the way buyers are buying with better content delivery. As a result the length of the sales cycle is reduced, thus channel managers can cover a larger target audience. Lastly, digital channel enablement enables a better channel onboarding process, reducing the time it takes for new channel salespeople to be up to speed and delivery successful results.
For more on effectively managing your channels to drive productivity and revenue growth forward, download our guide for The Keys To Effective Channel Sales Management today.
Channelinsight. (2014). What Do Channel Partners Really Want? Retrieved from http://channelinsight.com/wp-content/uploads/2015/03/What-Do-Partners-Really-Want-in-Incentive-Programs-082014.pdf
Forbes Insights. (2015). The Power of Enablement. Bridging the Sales Productivity Gap. Retrieved from http://www.forbes.com/forbesinsights/brainshark/index.html