In today’s competitive business environment, it’s more important than ever to ensure your channel partners are performing at their best. That means ensuring their sales staffs are well-informed on your latest products, are incentivized to recommend and sell them to their clients, and are able to track their goal progression in real-time.
While encouraging this behavior in just one channel partner can be difficult enough, getting multiple partners to repeat this positive cycle is another challenge altogether. That’s where Best Payment Solutions’ channel partner automation comes in. From corporate employee, to dealer, to customer, our technology provides you with a means to control your environment and centralize your efforts.
What is Channel Partner Automation?
Channel partner automation refers to consolidating your channel partner incentivization and motivation efforts via a centralized technology platform. The main idea is that it streamlines your business interactions with channel partners by putting them all into one easy-to-manage spot. Instead of creating individual programs for each of your various partners, automation gives you the flexibility of still managing each partner’s progress individually while having a big picture understanding of your channel partner incentivization program’s progress across all participants. In other words, you’ll be able to compare how various channel partners are doing, and create individualized rewards and incentives to address each partner’s unique wants and needs.
Here’s just a taste of what channel partner automation can do for you and your partners:
1. Increase Channel Partner Engagement
The first benefit of implementing a channel partner automation program is the lift in engagement you’ll see from sales staff. Through our interactive mobile app, participants will be able to actively track their progress towards various goals and the rewards that go along with them. Whether weekly, daily, or hour by hour, channel partners can see exactly how they’re doing, which positively reinforces their behaviors. That’s engagement on a whole new level.
2. Reduce Management Costs
Another major benefit to channel partner automation is its ability to reduce costs for your business. By putting all of your tools and reports in one place, companies are able to save a significant amount of time that would have otherwise been spent managing multiple independent programs. It also cuts costs through streamlining communication amongst your various partners and decreases turnover as sales representatives are recognized and rewarded for their efforts.
3. Motivate Top Performers
Speaking of recognition and turnover, let’s talk about motivation. It’s not uncommon for top sales representatives to be poached by competing organizations. The number one cause for an employee leaving for greener pastures? A feeling of unappreciation. Our automation software solves this oversight. Never again will a top performer want to leave because they aren’t valued the way they should be. The harder a channel partner works towards advancing your business’ goals, the better their reward to motivate them to go even further.
Getting buy-in from your channel partners and their sales teams is an important pillar to the success of your business. Best Payment Solutions’ channel partner automation program empowers you to seamlessly manage each partner and how well their individual sales representatives are doing; while catering personal, meaningful rewards that encourage them to keep up the good work.
Ready to take the next step? At Best Payment Solutions, we understand the impact an improvement to your sales cycle can make on your company’s financials. Our experienced team can help your business evaluate its processes and implement a channel partner automation program to meet its unique needs. If you’re ready to take your business to a whole new level and get your sales process functioning at peak efficiency when you need it most, then a channel partner incentive program may be the right solution for you.