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.
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