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

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

How to Distinguish Yourself to Recruit Sales Partners

Posted by Seth Jacobsen on Nov 30, 2016 8:30:00 AM

One of the toughest challenges facing any Channel Manager is recruiting new sales partners in markets with a high level of competition.  These markets may have an excess of vendors competing with you, specifically, or else they offer many different alternative solutions for buyers to choose between.  In either case, the more competitive the market, the more you need to work to truly stand out and make yourself attractive to potential channel partners.

In most cases, it's important to always think from the partners’ perspective.  As independent organizations, they’re looking out for their own bottom line, just like you are.  The better you can understand their needs, motivations, decision-drivers - and figuring out how to support those - the more likely you are to form a successful partnership.  

Topics: Build Your Channel, channel sales

Where To Begin With PRM in 4 Easy Steps

Posted by Seth Jacobsen on Oct 6, 2016 10:35:00 AM

So, you've invested - or are about to invest - in a new Partner Relationship Management platform. A good PRM system will provide a lot of functionality to support your channel program, which means there are some complicated decisions to be made about implementation.

Trying to start using PRM without a plan for how you're going to use it will end up creating a lot of unnecessary challenges down the road. Likewise, simply throwing open the floodgates and trying to implement everything at once will almost inevitably lead to confusion.

While every business's needs will be different, we have some suggestions for how to get started, and which aspects of a PRM solution to focus on early.

Topics: Build Your Channel, prm implementation, prm strategy

5 Key Steps to Bringing on the Right Sales Partners

Posted by Seth Jacobsen on Sep 14, 2016 3:15:00 PM

An indirect sales channel lives or dies based on the success of its sales partners, but it's up to you to support them effectively to strengthen your business. Clearly, success is the end result. Getting there usually starts with selecting the right partners.

This can be a tricky balancing act, especially for companies relatively new to indirect sales. It's easy to take a "beggars can't be choosers" attitude, and onboard any potential partner simply for the sake of building an ecosystem quickly. However, such an indiscriminating recruitment strategy will eventually create real problems that could have been avoided by being more selective.

Today, we wanted to take a look at some of the issues surrounding the matter of partner selection, and offer up some suggestions for how to find the best sales partners for your business.

Topics: Build Your Channel, channel partners

Great Partner Engagement Begins With The Channel Manager

Posted by Seth Jacobsen on Aug 9, 2016 5:30:00 PM

For any organization focused on an indirect sales model, one of the single most important roles is that of the Channel Manager - the direct link between themselves and all their partner channels. In a sufficiently large ecosystem, they may actually be directly responsible for more departments and workers than anyone else below the COO!

A company selling through an indirect channel cannot build partner engagement without having a great channel manager actively engaging those partners. That's why it's so important to recognize just how vital the Channel Manager role is, and to ensure they have the right tools and resources they need to do their job.

Topics: Build Your Channel, channel manager

Examining The Phases Of Sales Channel Development

Posted by Seth Jacobsen on Aug 3, 2016 12:30:00 PM

In our years working with vendors to create effective channel partnerships, we've identified several key phases which just about any vendor will pass through at one point or another. Three of these are good, the other indicates areas of concern.

If you're looking for best practices at various stages of your own channel development, this is a good place to start.

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

6 Keys to an Effective Channel Strategy

Posted by Seth Jacobsen on Jul 6, 2016 10:40:00 AM

There's little doubt that for new vendors on the market, the first year or two of building a productive collection of channel partners to help you grow is a challenge. With so much competition for channel attention, you need to stand out from the start to help attract and enable new partners.

That's precisely what Partner Relationship Management (PRM) software is built for. A single SaaS-based solution for channel management, which can scale from small to large organizations just as quickly as your channel program grows. But we've learned that success doesn't actually start with a PRM solution.

Based on our experience working with small-to-mid-size businesses in the developing phases of a channel program, we've identified six key areas which are necessary for rapid and successful channel growth.

Topics: Build Your Channel, channel strategies

Four Major Challenges Facing Indirect Sales Channel Management

Posted by Seth Jacobsen on Jun 28, 2016 10:30:00 AM

It's little wonder that as businesses expand and revenue targets increase,  companies turn towards an indirect sales model for moving their goods and services. In the Internet age, there are no boundaries for consumers to be exposed to your line of products, but without local representation it may limit your ability to actually serve them. Channel sales simply make sense in a digital on-demand world.

Eventually the decision to build out an indirect sales channel of distributors, resellers, VARs, or dealers becomes an easy one. After all, well-implemented channel sales models have three clear benefits over most direct-sales models:

Topics: Build Your Channel, channel management, channel sales

The Three Stages Of a Sucessful Partner Ecosystem

Posted by Seth Jacobsen on May 19, 2016 3:35:00 PM

As they say, a journey of a thousand miles begins with a single step. Great sales channel ecosystems don't spring up overnight; they require care and attention to cultivate over a period of months and years.

In our 13+ years of working with companies to grow their partner channels, we've noticed that the successful ones all share a fairly similar pattern of growth. Obviously, every company's story is going to be different, but there are definite trends that suggest when an organization is on the right path towards success.

We've broken this down into three basic phases. A company which can successfully pass through these stages without too many missteps is one whose future is looking good.

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

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