Channel Deal Registration Best Practices for Channel Partner Programs - Channeltivity

PRM Best Practices: Deal Registration

More a more in-depth discussion on deal registration best practices for your channel program, please check out http://help.channeltivity.com/support...


Full Transcript:

Hi, this is Zach Smith. In this PRM best practices video, I'm going to show how Channeltivity can help you implement a successful deal registration program.


Let's look at the best practices that make a deal registration program successful:
1. The program has to be fair to all partners,
2. The program needs to provide an incentive for partners to register deals, and
3. The program needs to encourage partners to keep registered deals up-to-date.
I'm now going to illustrate how Channeltivity can help you implement these deal registration best practices by taking you through our deal registration module.


The two areas that affect the fairness of a deal registration program are first and foremost your program rules, and second, the system to manage and facilitate the deal registration and approval process, and ensure the enforcement of your rules, which is where Channeltivity comes into play.


Channeltivity provides the framework for tracking both deal data and activity. All deal registration records are stored in the system along with date stamps and a log of changes. In many partner programs, the timing of when a deal is registered is important, especially if you have multiple partners registering the same deal, so knowing who came first is key. Any supporting documentation and decisions that were made regarding a registered deal can be easily logged. An added bonus is that the transparency of having a central system creates accountability and encourages people to follow the rules of your channel program.


In order for your partners to be active participants in your deal registration program, you need to provide an incentive to register deals, which is the second best practice. In most deal registration programs registered deals receive better pricing, support during the sales process, and so on.


Channeltivity supports this process by providing a central record of deal registrations along with joint sales collaboration and communication functionality. Each deal registration is taken through a review and approval process, leaving a digital paper trail. The workflows can be customized to fit your particular program needs.


The final best practice consists of getting your partners to update deals they've registered. This is key, because it greatly affects the quality of your data and as a result your ability to do accurate reporting.


Channeltivity's approach to getting partners to update their deals consists of making it really easy, and then also setting reminders. You can see here that the deal list interface allows partners to update multiple deals at once with very little work. There's nothing worse than having to click into each record to update it.

On the reminder side, we have automatic emails that get sent to the partner if a deal hasn't been updated in a certain number of days.


As you can see, these best practices are easiest to implement when you have a central system like Channeltivity. The structure and accountability provided by a deal registration system are key to implementing a successful program.


Thank you very much for your attention. I hope this video was helpful. Please get in touch to ask questions or give feedback.