RelayWare Blog » Deal Registration

Deal registration lets you know more about the sales lead

Brad — Tue, 29 Jun 2010 10:37:10 +0000

Deal registration will help you track, report and assist sales leads generated with your partner. This ensures better organisation and the sales leads are carefully administered. A productive program would help you and your partner to keep a tab on sales leads gained in accordance with an associate, vendor or channel.

The benefits of deal registration

• Builds strong relationships with your network of vendors or associates
• Lessens channel conflicts
• Increases business opportunities
• High deal closure rate
• Improving the ROI by closing the loop on marketing
• Understand the sale strategies adopted by partners
• Enhances forecasting and resource allotment.

Delivering Return on Investment (ROI)

Deal registration is the most cost effective program, automating the whole back office. This helps in reducing the cost of operations. Along with this, it delivers good results.

Improves relationships with your associates

Deal registration helps you and your partner’s sales division to work in finding opportunities and closing the deal. This increases the ability to complete the deal quicker and eliminates channel conflicts. It lets you know how your partners are selling, and to whom.

Transparency in the entire process

Choosing an indirect sales model makes sure that the major sales chances are veiled from the dealer. An automated system on the other hand will allow associates to record opportunities and will permit you to track them and help in concluding them.

Ease your channel management with deal registration programs

Brad — Mon, 28 Jun 2010 10:23:57 +0000

Within the past few years, deal registration programs have developed from simple methods for offering extra margins to partners to closed loop systems. A deal registration program is specially designed to influence partner behaviour that impacts major business objectives. Moreover, deal registration programs that were previously targeted when the sales cycle was complex and price point was high are now aimed at products with shorter sales cycles and lower price points.

With the changing landscape of channel programs, many companies are re-thinking and re-launching deal registration management initiatives. The major objective behind deal registration was to help vendors increase their channel sales. It provided information about existing opportunities that offer additional or guaranteed margins to partners who register a deal. Deal registration also protects end users from a barrage of sales people.

Avoid partner conflicts with deal registration

When deal registration programs were initially introduced, it was believed that they could only work in circumstances where the sales cycle was long and price point was a bit high. Deal registration provides the complete visibility of channel sales to both partners and manufacturing companies.

Deal registration is generally employed to minimise the chances of channel conflicts. With a well designed deal registration program, partners can work with their clients without worrying about other companies or salespeople trying to provide similar products at considerably low cost. As deal registration programs are beneficial for manufacturers, end users and partners, it should be well planned and executed in a sales channel.

Want a better channel network? Opt for a deal registration program

Mary — Sun, 27 Jun 2010 13:17:47 +0000

To handle a distribution channel network properly, it is important to track the activities of various business partners. With the help of the latest business or marketing strategies, vendors can increase their sales and profits. One of these strategies is deal registration which can help by reducing conflicts.

Deal registration is a program which allows channel partners to send a message to the vendor or business owner about the new lead.

The significance of deal registration for your business

The main aim of the deal registration program is to reduce conflicts between channel partners and the vendor’s sales team. This program helps partners to develop new programs and increase their profitability. In most cases, business owners also offer channel incentives to partners for their pre-sale investments. These incentives are only for the partner who registers first for the lead.

There are many companies who have opted for deal registration to protect their partners’ profit margin. The latest deal registration program also uses online software. By using this feature, the business owners can increase their indirect sales to some extent.

Once you have decided to opt for a deal registration program it is important to educate your partners regarding the new program. Proper training will help them to understand all the facilities of the program. Even briefing your partners about your business objectives is important.

Improve your business productivity and efficiency using a deal registration program.

The Need for Deal Registration and Partner Portal Solutions

Brad — Tue, 22 Jun 2010 17:48:28 +0000

Deal registrations are very essential for large companies. This is necessary for a growing channel because some channels can get overcrowded. This will lead to a reduction in their price margins. Many a times, the profit margins can decrease if too many partners chase the same deal or lead. This will only put pressure on your prices and can make your partners hesitant to put your products on sale.

What is deal registration - Deal registrations will provide you and your partners with a secure and reliable partner portal. This process will allow your partners to register deals online and will also provide protection to your deals or leads. A deal registration can also be equipped with a partner portal.

Partner portal – This is a web-based application that permits a company’s partner to attain a direct access to the company’s pricing and sales information, marketing resources, etc. You can also obtain technical details that might be unavailable to the common public. A partner portal can also update your partners on various new promotions and discounts that will be beneficial for your partners.

This can increase your company’s revenue- Thanks to deal registrations and partner portals, your partners may readily put your product on sale. This will increase your sales and profits. A partner portal can be accessed on the manufacturer’s website. You will have to provide your partners with secure logon credentials and this will help them to monitor the progress of your channel.

Use partner portals to create a feeling of mutual trust and this will help you strengthen your relationships with your partners.

Want to reduce channel conflicts? Opt for a deal registration program

Mary — Fri, 18 Jun 2010 17:37:44 +0000

Partners play an important role in all businesses as they help to increase sales. If you run a business then you need to be aware of channel management, which can increase overall business profits by a great extent. Also, if you have partners that are situated in different parts of the world then reducing channel conflicts must be your main aim.

High value products and few customers give rise to competition and there are cases of a lead being stolen before the actual deal is finalised. Sometimes, channel partners also have to compete with the vendor’s sales team. The main reason behind these conflicts is to gain more profit. If you are searching for a perfect solution which will help you to reduce the conflict rates then you should opt for deal registration.

Deal registration is a web-based application which allows business owners to keep a check on the activities of all channel partners.

What beneficial features are offered by deal registration?

Deal registration programs are designed in such a way that all channel partners can register their leads and improve their workflow by a great extent. By doing this, they can easily turn leads into sales opportunities. The process of deal registration begins when partners submit a deal which can be seen by channel managers and business owners. Whether the manager has accepted or rejected the deal, the partners will receive the notification automatically via the deal registration program.

If you have decided to use deal registration then make sure that it is implemented and executed by your sales department properly.

How deal registration can help your business grow

Stefan — Thu, 17 Jun 2010 13:49:48 +0000

Deal registration is actually a feature of channel program wherein channel partners inform the vendors about leads and are given priority for it. Once the channel partners register a lead with vendors, they get specific period of time for closing the deal. During this time vendors or other channel members are not allowed to negotiate the same deal with that lead.

The main purpose of using deal registration is to minimise the chances of channel conflicts. With the help of deal registration program, channel partners can work with their clients without worrying about other companies trying to provide similar products at low cost. Some vendors even help partners in selling products, and with the help of deal registration the possibilities of vendors stealing the leads are lowered to a great extent.

Why integrate deal registration in channel management?

As your channel starts growing, it can become more crowded and the margins may get squeezed with more and more partners chasing the same deal. This can not only put a pressure on its pricing, but also make your partners unwilling to sell your products.

Deal registration offers a reliable process and secure portal through which your partners can register their deals online to get deal protection. With the help of deal registration software, vendors can monitor progress, approve deals and view their channel sales pipeline.

Increase your revenue with deal registration

If you have deal registration integrated in your sales channel, partners will more likely take your products into sale. Deal registration offers numerous benefits like:

Strengthens your relationships with partners
Creates trust
Protects against margin erosion
Avoids channel conflicts
Eases and speeds up sales cycle
Improves visibility of sales pipeline

With all these above advantages, integrating deal registration in your sales channel can prove to be extremely helpful.

Deal registration – Important for good partner management

Mary — Wed, 16 Jun 2010 17:28:32 +0000

Deal registration is a process where a channel partner informs the vendor about the deal results. This is one of the major aspects of channel management. It is important for the partners to set a closing time for the deal as soon as it is agreed upon by the lead. The channel members and the vendors of the lead are not allowed to negotiate on any other deals as long as the current deal is not closed.

Systematic management of deal registration

Channel conflicts are handled in a systematic manner because of the deal registration procedures that are put in place. This deal registration will also allow the company and the partner to work together without the fear of their competitors who may offer services at cheaper rates. So, channel partners can register deals whenever they want with help of the vendor throughout the sales cycle. If the deal is closed successfully, then there is a chance that channel partners may reap some extra benefit.

Gain more profit

Without a good and well executed deal registration program there will be no profit for the partners or vendors. A poor deal registration program may hamper the partner benefits badly. A well-structured registration program can be very prosperous in the both long and short term. Both vendors as well as partners can benefit hugely from this.

Vendors should take advantage of the opportunities given by partner relationship management or PRM as they can change the partner-vendor relationship in a good way.

Use partner portals to increase your company’s productivity

Stefan — Tue, 15 Jun 2010 14:00:32 +0000

Managing a distribution channel is not an easy task as you have to keep a tab on how much a parent company or its partners have contributed to the overall sales. A channel should be properly managed otherwise it can cause serious harm to your networks. You will have to ensure your system is functioning properly as this will give you better management and will also help to avoid internal conflicts. A partner portal is one such system that can be used alongside a CRM-integrated deal registration program.

How are deal registrations beneficial?

Deal registrations are very beneficial for vendors, partners and end consumers. Deal registration programs have to be planned and executed in an orderly fashion. When implemented properly, deal registrations can deepen and widen relationships between partners and vendors. This is beneficial as it will lead to increased loyalty and sales. Deal registrations are the best way to decrease pipeline conflicts and increase your sales cycle.

Elements of a channel program

Channel programs require definite elements in order to succeed, and deal registration programs are no exceptions. Its key elements include establishing your business objectives, conducting market research, developing executable strategies, and simplicity. These elements can yield profitable results to any company.

Who can access partner portals?

A channel dependent company which uses partner portals can provide their partners with valuable information such as sales cycles, information on leads, market research etc. This information is available only to authorised individuals and can be obtained from a server or the company’s website.

Use partner portals and deal registrations to increase the efficiency and productivity of your company.

The need for deal registrations in channel related businesses

Brad — Tue, 15 Jun 2010 09:00:51 +0000

Your partner channel’s sales can account for a large proportion of your company’s total sales. As your channels account for a big part of your sales, you must ensure that they function smoothly and that there is no conflict between your partners.

Managing Your Channel – Channel management is a complex business process which involves a lot of challenges. A vendor can have multiple channel partners in their country as well as in other parts of the world. Managing so many partners can be quite a task and this will mean ironing out any channel conflicts. A vendor and a company simply cannot afford to have channel conflicts as it can affect sales.

When Do Conflicts Arise?

Channel conflicts often arise due to competition between resellers and vendors. Competition is fierce as there are limited customers and the competition increases if you are dealing with high value products or small markets. Resellers might steal potential leads from other resellers or vendors. All this takes place before a deal can be finalised. In some cases, even the vendors compete with a partner in an attempt to claim the total profit for themselves.

Thankfully, there are web based applications and software solutions that can help a channel manager to assist their channel partner’s activities. Deal registration will help partners and vendors to register a lead. This will improve the workflow and increase the sales opportunities.

Use deal registration to minimise channel conflicts

Mary — Thu, 10 Jun 2010 13:50:54 +0000

The aim of a deal registration is to provide partners with a platform to improve their workflow, register leads, and in turn their leads into sales.

How does it work – The deal registration starts after a channel partner has submitted a potential deal to their channel manager. This deal is then reviewed by the channel’s manager and is checked for errors. The deal is checked on the system to ensure its authenticity. If the system finds a duplicate deal, it will automatically send a notification to the channel’s partner and the deal is rejected. If the deal is unique, it is approved and can begin its sales cycle.

Why do conflicts arise - Conflicts mostly arise due to multiple channel partners in a small area. Deal registration will allow you to assign your partners with unique deals and that will allow you to effectively cover your market. Deal registration prevents your market from getting oversaturated.

Implementation and execution - Your managers must be regular users of this technology. Honesty and fair dealing is a must between channel partners as this will motivate them to make more sales.

Deal registration software is a must have tool for large vendors. It is one of the best solutions to resolve channel conflicts in companies. However the efficiency of the system will depend on how the manager and resellers use it.