- On July 20, 2020
The Trials and Tribulations of Deal Registration
Deal registration is a common feature for vendors’ channel partner programs, where a channel partner informs the vendor of new sales leads. Now, if the vendor approves, the channel partner is normally given priority of the lead. This is certainly a channel industry best practice. But, not all vendors offer deal registration, and some may only offer it to certain qualifying channel partners. So what exactly are the pros and cons of deal registration? Let’s take a look.
Deal registration programs demonstrate the power of blending sales and marketing and have been proven to be an effective way of managing channel conflict where channel partners have to compete against one another. With a deal registration program, partners can work with clients and prospects without the worry of competition offering the same products at a lower price. It benefits vendors by gaining increased visibility to their sales pipeline and eliminates the threat of stealing customers.
Other pros include:
- Increase profitability for channel partner
- Identify target demographics or sales funnel
- Generate transparency and longevity with the channel partner relationship
Most importantly, a major issue we face today is that some vendors’ deal registration systems can be very complex and timely to manage for partners. Even with a deal registration program in place, a vendor may give a lead to different partners which could be due to the lead requesting a specific partner or other extenuating circumstances. Although, since technology has been upgraded, some systems have been moved over to be more automated which makes everyone’s jobs a bit easier.
Other cons include:
- Poorly designed partner portal platform
- Long turnaround times
- Inadequate resources
Channel partners are an extension of the vendors’ sales team who also require training on products and strategies. Without the proper training, the deal registration program could fail and partners will no longer have the motivation to sell.
As stated before, some vendors may add qualifications in order to be a part of a deal registration program. Vendors must come up with the qualifications of the program, but of course, don’t want falsely submitted registrations and territory conflict. Therefore, qualifications standards must be upheld and partners must be aware that they must hit these qualifications in order to be able to participate in a deal registration program.
.While there are both pros and cons of a deal registration program, it still is a great opportunity for both vendors and partners alike. If a partner does qualify to participate, they should outweigh the pros and cons of participating and make a wise decision on whether to proceed or not and to help make that decision or if there are questions regarding deal registration programs – feel free to contact us as we have a great partner relationship management program you could take advantage of.