Discounting – the Weak Link in Your Pricing Strategy for the Indirect Channel

Sales Benchmark Index

This is an age-old struggle many firms have had with the indirect channel…. Article Pricing Strategy best practices clients comp compensation Doug Bartels GTM indicators indirect channel indirect sales influence key kpi margin packaging performance products reps resp RGM sale sales sales people tool total transactionsHow do you influence sales people when you don’t directly impact their compensation? The key we have found is to understand two key factors important to indirect.

Nine Reasons Salespeople Discount When They Shouldn’t

The Sales Heretic

One of the most frequent complaints I hear from sales directors, VPs, and CEOs is that their sales team—whether it’s internal or their distribution channeldiscounts too much and too often.

The 4 Types of Channel Marketing Partners

Allbound

The 4 Types of Channel Marketing Partners. Navigating the world of channel marketing can be tricky, especially when common industry terms overlap. Channel Partnerships, Untangled. There are four different types of channel-marketing partnerships: 1.

CPQ Drives Effective Price and Discount Management

Cincom Smart Selling

Sales and marketing managers face many challenges in the effective management of pricing and discounting. There are very few single … Continue reading "CPQ Drives Effective Price and Discount Management".

Getting to Street Price, the Hardest Task in Pricing

Sales Benchmark Index

When you sell entirely through indirect channels you are blind to the street price and how your products or service is valued by the end customer. You’re Blind and You Have a Problem.

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How to Use Your Social Media Channel for More Sales

Sales and Marketing Management

With some social media channels, Facebook for example, to get your page and business noticed you may need to pay for advertised posts. Well you can share your promotions and discounts via your social media channels meaning you are more likely to see a conversion to a sale once a customer has visited your website. Using these four tips above, you can improve your sales and influence and get your brand noticed through your social media channels. .

Hit Your Channel Sales Goals with ROI Selling

The ROI Guy

As a result, many companies are looking to channel partners as a more efficient revenue source. A survey reveals that the majority of B2B firms are now generating 60% of their revenue through indirect channels (The 2112 Group).

CPQ Facilitates Multi-Channel Selling

Cincom Smart Selling

Multi-channel selling presents many challenges to sales and marketing managers and strategists. Why do these guys get such a huge discount? And, the more diverse and numerous your sales channels, the more likely you are to encounter some or all of these problems. How Does Configure-Price-Quote Help Manage Multi-Channel Selling? Configuration Software and Multi-Channel Selling. Pricing Automation Software and Multi-Channel Selling.

Channel Visibility Reveals Unique Sales Workflows in Multi-Channel Organizations

Cincom Smart Selling

Distributing product through multiple channels means accommodating multiple sets of needs, competence levels and knowledge. Each channel is unique to some degree, and that means each channel has unique requirements as well. Discerning the nature of those requirements requires visibility into the individual sales channels. You rely on a number of distribution channel partners to address these different markets.

How to Read Your Audience and Structure Your Multi-Channel Marketing Accordingly

Sales and Marketing Management

That is why it is crucial to know your audience when you’re structuring your multi-channel marketing. Understanding their motivations is paramount in designing an effective multi-channel marketing strategy. More than that, by identifying the channels prospects are more likely to react to, you can feed them with the exact information they need to convert. Create Personalized Experiences across all Channels.

For Sale, Not On Sale - The True Cost of Discounting and What to Do About It

The ROI Guy

By Mark Schlueter & Tom Pisello More sales execs are revealing that discount pressures are at an all time high, and as a result, they need more transactions than ever just to make the numbers. There are several reasons why prospects are demanding higher discounts and making it harder for you to achieve your goals: Buyers are more empowered, with on-line / social resources readily available to research your competition and obtain competitive pricing.

Best Way to Reduce Discounting: Better Negotiating or Value Selling?

The ROI Guy

There is more pressure than ever on suppliers to lower their prices and offer steep discounts. Recent studies indicate that the average discount levels has risen to 20% per deal (IDC), but we find that many solution providers would be happy if that were the level of discount they were providing. And Procurement is getting way more involved in every transaction, with specific incentives to extract discounts from every vendor proposal.

Video: Combating Chaos in Channel Sales with CPQ

Cincom Smart Selling

As a channel manager, you know that your indirect sales channel can be an excellent source of revenue. Unfortunately, it can also introduce new elements of chaos into your organization that extend beyond the channel management team. Channel Challenges.

A Guide to Choosing the Best Digital Channel for Your Business [Infographic]

Connext Digital

Digital channels present new markets and new opportunities for businesses. But, there are many businesses, whether small or large, that have not realized the power of digital channels, while some of those who do still fail to harness its full potential in reaching their business goals. With several digital marketing channels available, you need to choose the tools worth focusing on to get you a step closer to your goals. Kinds of Digital Channels for Your Business.

Direct Mail: The Forgotten Outbound Channel That STILL Works In Sales Today

Sales Hacker

I don’t discount its powerful ability to drive business; however, email is not the only way to enchant your prospects. I won’t go as far as saying email is dead as a sales communication channel, it’s not.

Here’s What Every Business Should Know about Multi-Channel Sales Management

Cincom Smart Selling

In many ways, managing multiple sales channels is like climbing that mountain—it looks easy until you really get into the process, and then the challenges and difficulties become all too apparent. I don’t know how many times I’ve heard marketing folks declare during a midyear progress meeting that the sales numbers for that year can still be made, we just need to open up an indirect channel. If you currently manage a multi-channel operation, you know how naïve this statement sounds.

Channel Management Strategies: Using CPQ to Improve Customer Experience

Cincom Smart Selling

An alternative is a multi-channel strategy. Moving to or adding an indirect channel can be very effective, but there are issues to consider , and your end-users will frequently be the ones affected by the issues involved. If your company is used to communicating directly with the customer, adding an indirect selling channel between you and the customer is going to cut off much of that interaction. Your sales channel may or may not understand or embrace that messaging.

More Stakeholders and Business Involvement Driving Longer IT Decision Cycles and Discounting

The ROI Guy

This has unfortunately resulted in vendors proactively discounting in order to reduce sales cycles and get the deals moving to faster to “yes.” Earlier this year, the global management-consulting firm L.E.K. Consulting conducted an in-depth review of US IT purchasing trends.

Sales Tech Simplified: How to Turn Relationships Into Revenues with @ModelN

Smart Selling Tools

For example, Model N provides solutions for Finance and Product teams to maximize revenues by designing more effective pricing and discount programs, and analytical solutions to develop new product launch strategies that maximize sales in a global market.

30 of the Best SaaS Partner Programs (and Why They Are So Good)

Allbound

As AppDirect co-CEO Daniel Saks points out , “80% of on-premise software vendors operate a channel program to enable other companies to sell their products, while only 20% of SaaS vendors operate similar programs.” Allbound Best Practices Blog Article Channel Partners PRM Solutions

Managing Multichannel Selling

Cincom Smart Selling

There is a perception that managing multiple sales channels makes the use of a CPQ solution too difficult to bother with; that’s an unfortunate misconception. Managing a sales channel is all about making sure the sales operation within the channel has everything it needs to move your product efficiently and correctly in terms of satisfying the needs of your end-user. With multiple sales channels, it means making sure that each has their individualized needs met.

Authenticity Increases Sales Part I

Increase Sales

Authenticity matters in any marketing channel such as social media. Essentially, we discount the person’s recent achievement and focus on past mistakes. Marketing authenticity business growth strategy Facebook for business increase sales marketing channel social media

Increasing Sales Tool Adoption – A Proven Customer Perspective

The ROI Guy

We recently asked the developer of a very successful ROI/TCO tool what it took to get the tool to have such a big impact on driving incremental business, increasing competitive win rates and reduced discounting.

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How to become a rich sales geek

Sales 2.0

I’ve frequently sold my product with no discount at all. The media you use : different people like to receive communication through different channels. Testing is for marketing not sales. Does that sentence seem logical to you? It doesn’t to me.

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Sales Lessons from the World Series

John Barrows

The best sales reps will use a mix of channels and techniques to win deals. It’s also hard to say no to requests for discounts, but when you have a big fat pipeline, it’s a lot easier to say no to the additional discount requests.

How to Avoid the 7 Biggest PRM Fails

Allbound

Ultimately, your PRM solution will make it easier for your partners to work with you, so don’t discount the power of letting key partners in for a pilot early in the process. If your assets aren’t up to date, your channel partners can’t do their jobs.

Flipping the Script on the 80/20 Rule in Sales

Hubspot Sales

An AI-enabled sales tool detects a marketplace shift; a competitor is offering a discount on machines that sync with smartwatches. AI identifies the right communication channel for each contact. 80/20 Rule in Sales.

Gartner: Create Buyer Enablement Tools to Win More

The ROI Guy

And this is having a significant and tangible impact, leading to more stalled deals, elongated sales cycles and steep discounting. Be Consistent Across Channels — Ensure buyer enablement is available to all customers consistently across both digital (self-service) and seller channels.

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How to Avoid the Trash Folder

No More Cold Calling

Then there’s the real junk—offers for burial insurance, introductions to Russian beauties, discounts on Viagra, and other nonsense. Launching an owned-media site or supporting a visually rich Pinterest channel does not make your brand instantly accessible and trustworthy.

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Incentive Gift Cards Continue to Delight

Sales and Marketing Management

are increasingly using gift cards as a reward tool for multiple groups (channel, sales, employee and customer), and that investment in gift card rewards is both significant and growing. A lot of channel programs use a reloadable prepaid card as their incentive mechanism.

Creating a Modern Partner Program That Works

Openview

The “Channel”, as we know it, has evolved. It seems like new channel types are being born daily and the demand and monetization of cloud/SaaS have reshaped the way vendors and partner work together. You may think of partners as a revenue channel, but it is actually much more than that.

Key B2B Sales Challenges for Supply Chain Companies

Sales and Marketing Management

But the majority see opportunities in digital sales channels and are actively working to capitalize on them. Businesses tend to respond to these trends by racing to the bottom: discounting and discounting in the pursuit of quick wins that ultimately kill their margins. This is reflected in the survey results: some 65% see discounting as having a negative effect on the wider industry.

Do “Refer a Friend” Programs Actually Work? Absolutely! Sometimes.

No More Cold Calling

I received offers from my favorite retailers for birthday discounts, designed to make me feel special and (more importantly) spend money. I know many companies offer discounts or monetary rewards when customers refer a friend. Pay for referrals? Are you kidding me?

Sales Onboarding Certifications for Better Customer Conversations

Allego

In the same way, you don’t want to wait until after sales onboarding when a new batch of reps are already out in the field putting up low win rates and discounting heavily before you assess their ability to handle key components of customer conversations.

How To Fix Your Sales Problems In The Right Order

Sales Benchmark Index

Channel Partners productivity was higher than last years but well short of their original goal. Reps were discounting heavily to gain business. Poor Channel Management program. A new Channel Program can now use the new Lead and Sales Process.

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“Just For Me” Sales Onboarding

Allego

In the same way, you don’t want to wait until after sales onboarding when a new batch of reps are already out in the field putting up low win rates and discounting heavily before you assess their ability to handle key components of customer conversations.

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The Sales SVP Guide to Finishing the Fiscal Year

Sales Benchmark Index

Specifically: You tend to offer additional incentives to customers or channel partners. You teach customers and channel partners how to wait for quarter/year-end discounts. For most of us, the fiscal year ends just 29 days from today. This December has 22 business days.

The 7 Sins of New Customer Acquisition

Connext Digital

Offer premier programs, exclusive markdowns and private discounts to make them feel valued. The focus cannot just be on the audience, but needs to be on the audience and channel (that you wish to reach the person on). For B2B companies, Facebook might not be the best channel for customer acquisition efforts as your customers might be on LinkedIn and other professional platforms. Your budget to channel is the same concept. Customers are at the very heart of a business.

How Sales Pitches Keep the Reticular Activator on High Alert

Increase Sales

All these usually free social media channels now have conditioned sales leads to be very wary of any inbound marketing messages. These marketing messages are immediately discounted. Social media is one of the primary reasons for the increase in sales pitches.

Direct Mail & Email Workflow Templates For Ridiculously Effective Marketing Campaigns

Sales Hacker

Using the two channels results in an up to a 35% lift over a single channel—IWCO. Consider delivering critical information in both channels to reinforce the message and increase the likelihood it’ll make an impact.