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FinTech is the amalgamation of the words finance and technology and refers to the use of technology into the services offered by financial service companies with the aim to improve their usage and ease of access to the client. The modern period in the financial industry, therefore, can be divided into two eras: before FinTech…
Tag: Channel Partners
How to Keep your Channel Partners connected during COVID-19?
The pandemic has impacted various business verticals in different ways. Some of them had negative impacts, and some had increased positive growth in their business. With the change of working structure and remote working in place, channel partners feel more isolated now. According to a study, 56% of channel partners feel isolated and less engaged…
Channel Incentive Trends in 2021 – building the Best Channel Partner Program
2021 brings with it a The Channel Partner Journey Mapping out the company’s desired much-needed tide of hope and optimism. While 2020 has been a rollercoaster, it has allowed us to understand the importance of channel partner programs. They have had to be reimagined and redesigned to provide more diversity in the last one year. …
5 Key Pitfalls to Avoid for Building the Best in Your Channel Partnerships
Introduction Channel partners are invaluable to businesses as they can generate a large portion of the revenue. Incentive programs are integral to channel partnerships to support the company’s sales objectives and boost sales by increasing loyalty and motivating channel partners to sell. However, the inherent risks in the incentive programs must be mitigated by instating…
Effective Channel Partner Incentive Planning for the Pharma Industry
Traditionally, the channel partner model generated significant sales in the pharmaceutical industry. However, in today’s digital world, physicians and other medical professionals are already armed with prior research, making it difficult for channel partners to influence them to buy. In many cases, physician access creates an issue, limiting the number of visits sales representatives can…
Overcoming the challenges of channel incentives in the new normal
Owing to the COVID-19 pandemic, today’s highly competitive digital landscape has transformed how B2B buyers purchase products. A significant share of B2B revenue comes from channel partners. However, by the time channel partners begin their work, the buyer has already done comprehensive research on the product and the brand and may require additional persuasion. Therefore,…
Smart Onboarding to Maximize Partner Performance
A structured and seamless partner onboarding program forms the backbone of strong relationships with your channel partners. After all, channel partnerships open avenues for market growth by providing access to new customers. Smart, impactful onboarding is the key to building the partner relationships you desire and maximize partner performance. Poor onboarding of a new channel…
Change the face of automotive sales with channel incentives
Successful automotive sales rely largely on incentivising and motivating channel partners’. With increasing competition, it is essential that the channel partners are on top of their game. Selling through channel partners opens organizations to new markets, making the launch and subsequent customer service smoother. It is essential to establish clarity over mutual expectations and value-based…
Best practices for channel partner management
As the bridge between customers and vendors, channel partners play a crucial role in the company’s success and growth. Adopting a strategy for optimal channel partner engagement may seem confusing, but it is essential to maintain channel partner relationships. Although gradual, channel partners are experiencing a change in the way their relationships are sustained. This…
