High-Tech Companies Are Overspending on Sales Channel Incentive Programs
According to an article I’ve read by Accenture, high-tech companies are overspending more than 10% when it comes to sales channel incentive programs. Accenture also explained that about 80 percent of the turnover for high-tech companies are from indirect sales channels. In addition, 3 to 5 percent of the revenue is attributed to sales channel incentive […]
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How to Create Commitment With Your Business Partners or Intermediaries
How will you foster commitment to your sales relationship? Will you just randomly connect with various business partners or intermediaries, and hope that you’ll eventually get a commitment? If hope is how you plan to build relationships, then you’re in for a tough ride. Hope is not a strategy. When you connect with your business […]
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What Business Partners in Financial Services Expect from Headquarters
Whenever you work with your business partner it’s often crucial to set expectations. You want to be clear about the tasks that they’ll accomplish as a part of the collaboration, but at the same time, you also want to understand what they expect from your business. Understanding partner expectations is important for those that want […]
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How to Stay On Top Of Mind With Your Partner?
A lot of channel account managers find it difficult to stay on top of mind with their partners. After all, it’s not easy to build relationships and keep in touch with your clients. We know that we should follow-up but many tasks throughout the day prevent us from doing so. The good news is staying […]
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How To Be More Efficient With Your Time As An Account Manager
Time is money, especially for an account manager. You can be stuck in traffic whilst filling out your CRM and fulfilling administrative tasks. You might be receiving calls from your partners in the middle of lunch or dinner. While you might not be paid for entertaining your sales partners, it’s all part of the job. […]
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How to Create Great Account Plans?
Account plans help you build a blueprint to make sure that no project, partner or customer is left ignored. It ensures that you have a set of action steps to accomplish your objectives. For example, what does your sales team need to persuade your partners and customers? How will you increase sales? Which are the […]
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How to Find a Great Channel Account Manager?
Channel account managers (CAMs) are the company’s front-line ambassadors. They juggle several indirect sales partners and work closely with in-house marketing teams to create training programs, marketing materials and incentive programs that drive revenue and growth for your company. It’s a vital position however hiring an efficient and committed account manager is another story altogether. […]
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Why Should You Make An Account Plan?
Why Should You Make An Account Plan? Account plans are often used to provide structure for sales and create a blueprint for you and your customer’s success. A lot’s been written about how to create good account plans and their characteristics. We’re sure you’ve created your own account plan before the end of last year, […]
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The Road To Results
How to achieve great business results? In one of our videos, I’ve explained the common dysfunctions of a business relationship. There’s trust, fear of conflict, lack of commitment, accountability and attention to results. Today, I want to discuss how you can put this into practice in your organization. Let’s start with a few observations. We […]
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How to Add Value to Your Partners
How do you improve your relationship with your partners? I often hear from sales managers and account managers that their sales partners are only interested in more commission. Of course, every business and entrepreneur is interested in increasing their profits, right? But it’s not the only way to increase the value of your business relationship. […]
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