Building a channel sales program, or partner program, can be a major investment for any company. Partnerships, however, can yield a multitude of very beneficial results for both a business and individual if created and managed in the right way. Partnerships can help the company grow and extend their brand, while also helping the individual venture into new markets and expand their network. In order for a partnership to be successful, a company must have the following 3 factors:
- Enable Partners With The Ability To Sell With Confidence: The best way to increase your partner’s confidence is to prepare them with all relevant information about your products, direct competitors, customers, company history and use cases. Channel partners need twice as much content to work with than your direct reps because of their unfamiliarity with your product. Partners should have easy access to a system that contains customer testimonials, case studies, datasheets, e-books, videos, call and email scripts, competitive comparisons and any other company specific knowledge that they can equip themselves to use and study. If your partners feel that they have been adequately supplied with materials to be successful, it will boost their desire to sell, and increase your company’s revenue. Programs like RingLead’s Premier Partner Program, grant each partner account access to a unique, customized Partner Management System which includes sales and product training, co-branded marketing collateral and hundreds of other resources. The Partner Management System also allows partners to easily submit and track deals throughout the entire sales cycle allowing for ringlead reps to be automatically assigned deals as they are registered, making the hand off between partner and sales rep seamless and transparent.
- Provide Partners With Dedicated Support: Once your partners are armed with the right materials, you will want to make sure they have a dedicated team behind them to answer questions, provide training, help close deals and give any support as needed. If partners feel like they have a committed team that they can rely on, they are more likely to recommend your program and bring in new partners. One partner manager paired with several channel partners can bring in the same amount of revenue as five or six salespeople at a fraction of the cost. It’s also typically easier to bring on new partners than hire a new salesperson — especially once you’ve created the program and worked out the kinks. RingLead’s partner program provides a dedicated management team comprised of a Director of Sales and Senior Account Executive to every RingLead partner to help support their growth and development as a partner in order to hit their commit. Directors and AE’s will work on a partners behalf to close all registered deals in a timely and professional manner and maintain transparency throughout the entire process.
- Offer Instant And Highly Valued Rewards: One of the most attractive parts about partner programs are that they reward partners for their hard work through commission checks, e-gift cards, and free products. Partnership programs that are tiered allow you to offer higher valued rewards to partners with higher revenue commits, and give partners the ability to move through the different partnership levels, earning more as they reach specific targets. Once the deal has been closed, partners don’t want to wait days or weeks to receive their rewards. It is important that you have a system in place that allows your partners to be paid accordingly within 24 hours of their deal being closed so that they continue to bring you new deals. RingLead’s partner program issues a $50 e-gift card (that can be used at over 500 vendors), for every partner deal that moves to closed won within a 24 hour period. Partners also have the ability to earn up to 20% commission as they move through the different partnership levels and meet or exceed their revenue targets. Additionally, partner referrals and resellers will have access to the entire RingLead DMS product line for free, to use and leverage to help bring in new business.
RingLead Inc. is the industry leading, cloud-based, data management platform that can capture, clean, protect, enrich and normalize all of the data in your CRM in real time using customizable technology and crowdsourced intelligence. RingLead provides companies the only full stack, 360 degree, scalable data management platform in a market worth an estimated $203 billion, and growing.
Enticing? Want to learn More? Visit www.RingLead.com/partner-program to get more information about RingLead’s Premier Partner Program and how you can sign up today.