A lot has changed in the past month as to how companies do business. In these volatile times companies are looking for any edge they can gain to improve efficiency and effectiveness in their business.
Three questions to determine if sales technology is enhancing or hindering hindering partner productivity.
Proax Technologies calls LeadMethod’s CRM Connector the ‘Holy Grail’ of software platforms for industrial distributors Facing a rapidly increasing volume of leads, Proax today announced its partnership with LeadMethod to improve visibility into its sales pipeline and accelerate revenue opportunities. Proax currently works with more than two dozen manufacturing partners worldwide. As a leading […]
If your goal in 2019 is to hit new revenue targets, improving the productivity of your channel partners and distributors can help get you there. In fact, nearly 80 percent of sales executives believe increasing the productivity of an existing sales force is critical to reaching revenue goals.
Best practices for improving engagement, loyalty and performance. To improve the engagement, loyalty and productivity of your channel partners, it’s critical you take the time to focus on their satisfaction.
5 strategies to convert more leads into paying customers. If your marketing efforts and lead volumes are in good shape, and your external sales team is handed a healthy list of sales leads, but your conversion rates aren’t keeping pace, the problem may be your lead follow-up process.
Latest industry research uncovers what sales channels need for double-digit revenue growth. B2B enterprises more often provide tools and training to their direct sellers, while frequently overlooking their indirect or partner channels. That’s according to recent findings by Forrester Consulting, in a survey of more than 200 sales enablement leaders at B2B companies across the U.S.
Manufacturers reps and distributors: Here’s how to optimize your profile to engage prospects Last month, LinkedIn — the business-focused social network — reported it has 562 million users. That’s up from the 500 million figure it recorded in 2017. While the total number of LinkedIn users is interesting, what’s more relevant for today’s sales rep […]
Here’s how to build a sales pipeline that converts opportunities into revenue. At its most fundamental, a sales pipeline is simply insight — the ability to see every stage of your sales process front and center from prospect through to deal closure. Why should today’s distributor define a formal sales process? The more control […]
Inherent in a distributor sales force model is a lack of communication and understanding between separate entities on the status of their leads and sales pipelines. Manufacturers send leads to their distributors, but rarely get feedback on what happens with those leads, the opportunities they represent, forecasted sales, or the pipeline as a whole. In […]
Sales managers understand that channel partner engagement is the lifeblood of successful indirect sales. The more effective your channel partner engagement program, the easier it is for your distributors to do their job of selling and servicing your products every day. Market fluctuations and rapidly changing customer needs, however, have created an increasingly challenging environment […]
Business leaders today rely on data in order to make calculated, smart decisions for their organizations. To stay ahead of the competition and constantly changing business environments, seasonal trends or economic indicators are no longer good enough — particularly with the technology tools available today. Data is the new currency of the digital age. Whether […]
Imagine you want to buy a car on a Saturday. You go to dealership A and the salesperson says he’ll call you in 24 to 48 hours. Meanwhile, you go to dealership B, test drive the car you want, ink the deal, and drive home. When the salesperson from dealership A gets around to calling […]
As a distributor or channel partner, you work with dozens of different manufacturers — maybe as many as 500 — who send you sales leads in various formats on a daily basis. Some of those leads arrive via email, others in spreadsheets. Your manufacturing partners might even ask you to log-in to their CRM to […]
In a typical B2B or B2C environment, an internal marketing department provides leads — ideally qualified ones — to its counterpart down the hall in the sales department. It’s well known and certainly well documented that the process of sales and marketing alignment is both a challenge and a great source of opportunity. Just try […]
If you’re a distributor that partners with manufacturers, odds are that a few of them generate and share sales leads with you. This indirect sales distribution model has numerous benefits for both you and the manufacturer. You obtain sales leads at little or no marketing expense, and the manufacturer enjoys expanded market share without the […]
When we think about companies that sell via channel partners, we often think of traditional industrial manufacturers who create a product and then sell that product through distributors or independent sales reps. It’s not uncommon, however, for Software as a Service (SaaS) companies to operate using a similar model — partnering with value added resellers […]
Do you find yourself guessing what the revenue contribution from your channel partners will be at the end of the month or quarter? Do you look at historical performance and “hope” it continues or even increases over time? For companies that sell through channel partners, separation between financial forecasting and a channel partners’ actual performance […]
This is the second in a two-part blog series that explores the differences between passive and active channel engagement, and provide tips on how to create a high-functioning, outcome-driven channel sales engine. If you missed our first blog that explains the characteristics of a passive approach, check it out here. 6 Steps to Active Channel […]
This is the first blog in a two-part series that explores the differences between passive and active channel engagement, and provides actionable steps to help manufacturers create a high-functioning, outcome-driven channel sales engine. 5 Characteristics of Passive Channel Engagement Selling through channel partners and distributors is an established, proven, and scalable go-to-market approach for manufacturers […]
The role of today’s CFO is evolving. Once upon a time, CFOs and budget managers were tasked with preserving the assets of an organization by minimizing risk, getting the books right, and running a tight financial ship efficiently and effectively. In today’s fast-changing digital workplace, CFO’s increasingly play a more diverse role as strategic decision […]
Struggling to motivate an underperforming network of distributors or channel partners? Looking for ways to gain a strategic advantage over your competitors while maximizing channel sales? The problem may not be the distributor(s). The problem may be a lack of support. Sure, any business with a network of indirect sellers can build revenue. But are […]
Challenging times are an opportunity for organizations to review their current processes and implement new strategies to drive growth for their businesses. The key to instituting a change you can actually keep is to identify low-hanging fruit where achievable gains can be made quickly and easily. The most common goal for companies who operate in […]
Google “channel conflict” and top results and definitions all relate to unwanted competition between business partners — sales reps, retailers, distributors, etc. Perhaps channel partners unnecessarily compete with one another for customers, or possibly even with the brand itself. What typically follows is financial losses and low morale. Here at LeadMethod, when we share best […]
In a channel sales model, manufacturers generate leads for their channel partners and distributors. Done right, these leads are first scored based on their priority and then passed to the appropriate channel partners for follow up. What’s happens next, might be less clear. Were the leads contacted? How fast? Was a quote offered? Did the […]
According to SiriusDecisions, as many as 78 percent of sales leads receive no follow-up. That’s a figure sure to keep CFO’s and VP of Sales awake at night. But that 78 percent number also represents a source of incredible opportunity. By simply creating a process to contact more leads — and therefore better understand why […]
Are your distributors receiving sales leads that are clearly ranked in terms of their sales potential? Treating all leads as equals is not only inefficient, but also inhibits revenue potential (spending time and resources on an unlikely buyer, while a higher-potential opportunity sits idle). This is why prioritizing sales activity — known as lead scoring […]
Not all sales leads are created equal. Some leads, because they match your buyer persona or because they have shown a strong interest in your product or service, have a higher probability of becoming conversions. Other leads, because they don’t fit that criteria, are less likely to convert and may actually end up costing you […]
If you depend on channel partners to take your products to market, you know how important it is to identify, recruit, and retain the best distributors. When it’s time to acquire new partners, or replace under-performing ones, approach the process as you would hiring a new employee. When hiring, you consider the experience, background, skills […]
Customer Relationship Management (CRM) software has long been considered one of those must-have applications to help businesses sell to customers. After all, it’s a billion dollar industry that’s as ubiquitous in sales departments today as telephones and rolodexes were of yesteryear. Yet, CRM’s usefulness as a revenue optimization tool has its limitations. In particular, as […]
This is the second in a two-part series on how to build a successful ChannelTech Stack. In our first installment, we discussed the four key elements required to develop a results-driven channel partner technology stack. If you missed it, catch up here. Leveraging today’s technology to enable channel sales requires an approach that goes beyond […]
Are you throwing technology darts at a wall and hoping they land near the bulls-eye? We all know that technology can play a critical role in fixing challenging business processes. But technology — by itself — isn’t a magic pill. Anyone who has dealt with the data silos, underutilized technology, and integration headaches all caused […]
Strategies for better engagement, participation, and results Effective communication between colleagues and co-workers who all work under the same roof is tough enough. For companies that operate using an indirect sales model, the hurdles that stand in the way of effective communication can seem overwhelming. For all the obvious reasons, communication has long been […]
The ability to see a clear view of current and anticipated sales has long befuddled companies who sell through distributor or channel partners. And for good reason. The challenge Unlike traditional B2B or B2C sales models, companies that sell through distributors or channel partners often deal with a host of different systems, processes and even […]
For companies that sell their products through a network of channel partners and distributors, engagement is king. That’s because the more actively you engage, the more you sell. According to SiriusDecisions, a whopping 79 percent of sales leads generated by the manufacturer are not contacted by the channel partner. And traditional forms of engagement, such […]
We recently conducted a survey to more than 3,200 manufacturing sales and marketing professionals and the message was clear: They need more engagement and feedback from their channel partners on sales leads. Here is a key stat that we uncovered: Only 36% of companies get feedback from their channel partners on leads and opportunities. The […]
There is no magic bullet when it comes to increasing the performance and revenue contribution from your channel partners. It takes an integrated, systemic approach that brings together information sharing and performance reporting into a shared view. Current “functional” approaches to lead sharing and deal tracking rely on emails and spreadsheets that lack a shared, […]
W. Edwards Deming was quoted as saying “A goal without a method is nonsense.” If your 2017 revenue plan called for increase channel revenue by some percentage or dollar amount, you have a goal. Great. But do you have a method? We work with companies who rely on their channel partners for a significant portion […]
If you sell through a network of channel partners and distributors you understand that keeping them updated on the latest sales pitch, product positioning or new features is a challenge. And it’s no surprise that they are missing a lot of your new training material because they have to navigate your website or search through […]
Our CEO, Justin Johnson was recently interviewed by Sales Pipeline Radio. Here is a link to the 20 min interview on the challenges and opportunities of selling through channel partners – distributors, manufacturers reps, dealers, or resellers. In the interview Johnson discusses why having a clear process and the right software product for engaging channel partners […]
Suppliers that start to leverage data and metrics to optimize their channel partner relationships will see huge gains. Strong results will come when suppliers start to proactively manage and communicate with their channel partners in order to drive more revenue. Understanding channel partner engagement with leads and opportunities is critical. For example, research conducted by […]
You’ve worked hard to establish and build your channel partner and distributor relationships. Selling through channel partners is expensive and requires a lot of time, but, if done correctly, can yield significant revenue growth and profits. Getting the most out of the relationship requires a focused and defined approach. In reality, doing this correctly often is […]
Boost Distributor Sales with Playbooks If you sell through channel partners and distributors, then you know they are likely juggling dozens of products — yours included – as well as the related product info and sales messaging. Make it easier for them to access the most updated product information, and you stand to increase not […]
When it comes to selling through channel partners and distributors, most manufacturers cite a critical problem: They don’t get enough distributor feedback on their sales leads. In fact, our clients report they only hear back on 10 to 20 percent of their leads. That’s a major problem, and manufacturers are losing thousands if not millions […]
LeadMethod is a software company focused on channel partner engagement and sales enablement, two factors that drive the most ROI and channel partner loyalty. LeadMethod works with more than 23,000 suppliers, reps, and distributors to better align their businesses for growth. LeadMethod clients see between a 10-20% increase in revenue and have stronger communication and collaboration with their channel partners. LeadMethod can be used as a stand alone system or integration with more than 65 CRM, marketing automation or ERP systems for a total solution.