image source: business2community.com Definition of Business Intelligence: Business intelligence (BI)…
Take a look at the picture on top. You can see two massive beech trees growing next to each other. They are very considerate in sharing the sunlight, and their root systems are closely connected. When one dies, the other usually dies soon afterward, because they are dependent on each other. Also, forest trees have evolved to live in cooperative, interdependent relationships, maintained by communication and a collective intelligence similar to an insect colony.
“All the trees here, and in every forest that is not too damaged, are connected to each other through underground fungal networks. Trees share water and nutrients through the networks, and also use them to communicate. ” This is what Peter Wohlleben, a German forester and author mentions sharing his knowledge about the communication between trees here
This example can describe pretty good where the channel management strategy of your company should focus. Communication and collaboration are the keys to succeed. An established network of channel partners is not enough. Imagine that you are a channel manager in a SaaS company that has 50 channel partners. What do you expect from your partners? Sales and high profit.
But why your channel partners should promote and sell your SaaS instead of other SaaS products that they offer on their portfolio services? High commission is not enough. Don’t expect from your partners to sell independently if you initially haven’t built a fruitful relationship with them and if you don’t build this relationship every day.
Effective and efficient interaction between your company and your channel partners, and even between channel partners directly, has many benefits for all involved. These benefits that mentions the article here and we totally agree with that, include the following:
- Greater consistency and predictability of the interactions
- Increased productivity
- Increased loyalty and engagement
- Greater profitability
So, build trust, a sense of collaboration, help them when they need you, provide them incentives to sell more.
- Distribute product updates,
- Distribute marketing material,
- Provide training and sales material for your SaaS on the onboarding process,
- Chat with them when they need you and invite them on the PRM software that you use in order to manage effectivelly your partners and provide them the opportunity to have an easily access to you when they need you.
- Provide them the deal registration opportunity to secure their sales
- Provide leads to your channel partners to sell more (lead distribution)
- Let your channel partners communicate each other and win more sales!
- Communicate with their vendors in order to offer a more complete product on the market and win more clients!
All these features are included on Elioplus’ Partner Relationship Management software that gives you the opportunity to manage up to 20 channel partners and provides you a 2GB library storage for free.
The objective of this article is to inform you about the importance of collaboration and communication in the channel industry that unfortunately many channel managers are not giving the necessary attention, most of the times because of lack of experience.
Don’t let your channel partners struggle to increase sales alone. Grow a forest, channel management and enablement gives you this great opportunity.
The Elioplus Team