| m-link"> | | | | sales team can go a long way. |
| B2B or Business to Business relationships, just like in | | | | Forecasting — In forecasting trends in the |
| any other relationship, need support from both parties | | | | market, channel partner have to have tools to predict |
| to work. A channel partner’s relationship to the | | | | consumer behavior and market demands. Tools for |
| vendor company is symbiosis mainly driven by profit | | | | analysis like graphs and charts with updated |
| and incentives. Loyalty, honesty, integrity and ethics are | | | | information are at the center of marketing and sales. |
| all ideal values that could support the longevity of the | | | | Communication — Relationships need open |
| partnership but in all honesty, there really is one goal in | | | | communication to develop trust. Partners need to be |
| a capitalistic economy and that’s profit. B2B or | | | | able to communicate with vendor representatives like |
| Business to Business relationships, just like in any other | | | | channel managers when issues and concerns arise. |
| relationship, need support from both parties to work. A | | | | There has to be multiple lines of communication to |
| channel partner’s relationship to the vendor | | | | prevent disruption of sales activity. When previous |
| company is symbiosis mainly driven by profit and | | | | generations use a mere telephone and fax machine, |
| incentives. Loyalty, honesty, integrity and ethics are all | | | | with the Internet, there is email, VoIP, chat, etc. |
| ideal values that could support the longevity of the | | | | Marketing Funds — There has to be an efficient |
| partnership but in all honesty, there really is one goal in | | | | and fast way to approve requested funds to support |
| a capitalistic economy and that’s profit. | | | | marketing efforts by channel partners. An effective |
| Vendors rely on channel partners for the bulk of their | | | | record keeping feature is necessary to avoid legal |
| sales revenue. Through the complex business activities | | | | woes and promote transparency in terms of financial |
| involved in channel sales, vendors need strong alliances | | | | matters. |
| with partners with objectives aligned with the | | | | Lead management — To avoid channel conflicts |
| company’s goals. While abstract values are | | | | that are so prevalent in this type of relationship, an |
| good to have, concrete channel management solutions | | | | automated system that does not discriminate should |
| are the most reliable tools to ensure that partnership | | | | be integrated. An automated system will prevent any |
| will prosper. | | | | duplication of leads and will neutralize any conflicts |
| What are the features of strong and effective channel | | | | resulting from too much competition between partners |
| management solutions? | | | | and even between the channel partner and the |
| Training — Fortune 500 vendor companies | | | | vendor. |
| demand potential partners be certified in various | | | | POS or Point of Sale — A POS System directly |
| regulatory organizations. Training is very important for | | | | updates inventory when deals are closed. The system |
| sales team to succeed in closing deals. Especially in | | | | streamlines not only the sales but also the stock |
| the area of high-value products, a knowledgeable | | | | management of the company. |