Implementing Loyalty Programs to Enhance Your Indirect Sales Program

Posted by Seth Jacobsen on Jan 17, 2017 10:20:00 AM

Loyalty programs aren’t just for B2C markets any more!  They’re also an excellent way to incentivize partners in your indirect sales channel, building loyalty and engagement among their sales staff and helping to collaborate on opportunities to accelerate sales.

Remember, keeping mindshare among your partners is critical for inspiring them to promote your products & services ahead of other vendors they may also be representing.  And in an environment where increasing numbers of businesses are looking towards the indirect sales program, that means it’s becoming increasingly important to find ways to differentiate yourself.  A loyalty program can do a lot to keep your existing partners happy, while acting as a nice recruiting tool for bringing new partners on board.

Topics: Optimize Your Channel, sales partner incentives, partner loyalty

Top B2B Trends to Watch in 2017

Posted by Seth Jacobsen on Jan 12, 2017 10:10:00 AM

It’s an exciting time to be in business, with new techniques coming along every day.  The rapid progress of technology is turning into equally-rapid changes to how we do business, meaning the field is wide open for nearly any company in any field to succeed.  Those who can stay ahead of the curve by paying close attention to -and meeting - their customers’ wants and needs will be the ones who thrive. This can be especially important for those that rely on reaching the customer through their sales channel partners.

What strategies should you be adopting into your own sales ecosystem to keep up with the times while providing innovative solutions?  Below are some of the trends we’re following closely here at LogicBay, and we'll continue to keep an eye on their impact in the world of B2B sales throughout 2017.

Topics: channel sales, channel marketing, b2b, scaling your sales channel

Successful Account Based Marketing In Channel Sales Systems

Posted by Seth Jacobsen on Jan 10, 2017 4:35:00 PM

One of the most talked about trends in marketing today is Account Based Marketing, or ABM.  ABM represents a targeted outbound approach that can be segmented by large national accounts, industry, or even product category. It also serves as a nice complement to inbound marketing efforts which can cast a larger net, but may take months (or more) to pay off. 

However, there are aspects of ABM that can make it tricky to execute within indirect sales systems.  ABM requires a lot of focus and coordination between departments, which can be difficult within a channel ecosystem.  Today, that’s what we want to look at:  Ways to make ABM easier to achieve within channel sales.

First, a quick definition for those who haven’t encountered ABM before.

Topics: marketing, channel sales, account based marketing, scaling your sales channel

Hitting the Brakes: When Growing Too Fast Starts Impacting Channel Sales

Posted by Seth Jacobsen on Jan 3, 2017 10:25:00 AM

First and foremost...welcome to 2017!

As you may have seen in the past, we like to write about the stages of growth that are often seen within a channel ecosystem, and how a well-run indirect sales program can smoothly grow from its beginning stages to one of stability and sustainability.  There’s also the undesirable situation of sub-optimized sales channels where internal issues are holding it back from further profitable growth.

However, there’s another situation which isn’t often talked about but which growing ecosystems should watch out for:  instability brought about by too-rapid growth.  It’s very easy for a channel manager or VP of Sales to become overly enthusiastic about growth and expansion, particularly if they’ve identified an under-served market and are trying to establish themselves as the key service provider within it.  In such cases, it may seem like there’s no such thing as too much growth… but there is. In these situations, the solution is to slow down.  Hit the brakes. Take the time to understand what challenges are likely ahead and prepare yourself to meet those head on.

Topics: channel sales, channel performance

The Most Common Inefficiences in Sales Channels and How to Fix Them

Posted by Seth Jacobsen on Dec 28, 2016 3:40:00 PM

Everyone wants a well-optimized channel sales program, but you don’t get there without clearing away some of the common challenges that can lead to gridlock and a general lack of productivity.

It's not at all uncommon to be aware that your sales channel is under-performing, but knowing where to begin to address this issue is another challenge altogether.  This can be tricky, since in many cases, the underlying cause of inefficiencies can be separate from the underperforming areas.  In other words, it’s easy to mistake symptoms for the disease.  But without identifying and addressing the underlying “diseases,” the symptoms will never entirely go away.

So, based on our own experiences, we wanted to talk a bit about common issues we see in channel ecosystems leading to larger systemic issues preventing true efficiency. And one piece of advice if you find more than one of these apply to your organization: start by focusing on one area of improvement and work on that until you have gained a competitive advantage. 

Topics: Scale Your Channel, channel sales

Supporting A Growing Sales Channel Throughout Its Lifecycle

Posted by Seth Jacobsen on Dec 20, 2016 10:40:00 AM

One of the philosophies we feel strongly about here at LogicBay is the need to support companies through the various phases of sales channel development.  While it’s common to talk about a “sales lifecycle,” it’s far less common to see similar discussions of businesses and their sales partnerships. 

However, this belief that sales channels should be treated as growing ‘organisms,’ so to speak, is at the heart of our Partner Relationship Management technology and services. It’s not a platform specifically designed for small, medium, or global organizations.  Rather, LogicBay PRM is designed to grow alongside your organization, with scalability to support your efforts at each stage of channel growth.  

Specifically, based on our interactions with hundreds of companies since 2003, we have identified four key ‘phases’ of growth:  Three which represent the normal, sustained, healthy growth of an ecosystem, as well as a fourth which indicates sub-optimal performance.  Our goal is to help support best practices across all these phases, while assisting those that are looking to turn things around.

Here’s how it breaks down.

Topics: Scale Your Channel, Optimize Your Channel, Build Your Channel

Reviewing 2016 To Create A Better 2017 For You And Your Sales Partners

Posted by Seth Jacobsen on Dec 15, 2016 10:20:00 AM

The end-of-year is coming up, which makes this an excellent time to review the performance of your indirect sales channel.  One of the most critical aspects of managing a network of channel partners is continually monitoring key performance indicators for areas of improvement. 

At the end of the year, you also have the opportunity to evaluate what's working - and what's not - as you establish goals for the upcoming year. By taking a critical look at 2016’s performance, you can help ensure that 2017 looks even brighter for yourself and your partners.

Topics: Scale Your Channel, sales partners

Millennials:  Reaching Out To The Youngest B2B Buyers

Posted by Seth Jacobsen on Dec 13, 2016 9:30:00 AM

Millennials are no longer just “the kids these days.”   They are already the largest generational group in America - by 2020, they'll represent about 50% of the workforce - and with each passing year, more and more are entering positions of responsibility in businesses. After all, the oldest Millennials are now in their mid-30s, which is prime age to enter management roles even in larger organizations.

Millennials - sometimes also known as Generation Y - are particularly important for small-to-medium sized businesses, which often have a large percentage of younger employees.  Plus, according to Forbes and other sources, Millennials are one of the most entrepreneurial of all recorded generations.  They are already launching more businesses, at a younger age, while employing more people, than the Boomers ever did.

In short, Millennials absolutely should not be overlooked in B2B sales simply due to their relatively young age.  Their value as customers within your sales ecosystem will only grow, year by year, potentially for decades to come. There is a catch, however:  Millennials are also radically unlike any previous generation in terms of their tastes, preferences, ideals, and buying behavior.

Topics: channel sales, b2b

Sales Channel Challenges - and Opportunities - Facing Today's CMOs

Posted by Seth Jacobsen on Dec 8, 2016 10:20:00 AM

Chief Marketing Officers have a lot on their plate these days.  Markets and technology are changing rapidly. Their job is to stay on top of both and find ways to keep their organizations on track  toward better ways of doing business.

Recently, SiriusDecisions conducted a survey of CMOs around the world, and got a lot of insights into what’s on their mind these days. We found it very interesting, in large part because many of the challenges facing CMOs today are magnified by the complexities of supporting a sales channel. They have a lot of opportunities to improve performance, and are continually looking for creative solutions to help support them.

Topics: Scale Your Channel, channel sales, channel marketing

LogicBay: Supporting Our Own Partners with PRM

Posted by Seth Jacobsen on Dec 6, 2016 1:15:00 PM

When a company creates a product or service aimed at a certain niche market, it’s easy for them to get caught up in the potential benefit to the end customer.  They offer advice on using the product which may not be realistic, or that doesn’t really mesh with on-the-ground experiences of those using the product.  In short, they’re focused on sales pitches over practical utility.

In the case of LogicBay, though, we've decided to practice what we preach, by supporting our own network of channel partners to help drive home the value of a PRM solution.  We’d venture to say that part of the reason LogicBay offers such a strong end-to-end PRM solution for our customers is the services our partners offer - coupled with our PRM technology - to create a comprehensive channel program solution.

When a partner comes to us looking for a technology platform to help put their plans into motion, we can immediately demonstrate PRM as a use case, which in turn, helps inform their advice and strategies for their own clients.

Topics: prm, Build Your Channel, channel partners

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