Channel Incentives: Marketplace Best Practices
In a rapidly growing cloud market, enterprises of all sizes demand more services at an increased pace. Line of Business and IT admins are now joining forces to make technology decisions, and the multiple touch points require cloud providers and partners to be well equipped to address prospects’ questions on the spot. The agile cloud product development cycle requires marketing services to become agile as well.
To cater to SMB customers as well as large enterprises, it is crucial for organizations to set up the right program and platform to monitor funds, investments, incentives and utilization of programs effectively. Manual processes and systems or those that are built in silos will no longer be a sustainable and scalable way to address this growing market.
Your proposal for a channel incentives Marketplace program should highlight what you are planning to accomplish and why it is significant to the overall business. It should also include a competitive and financial analysis, as well as key partners’ feedback.
To help build the right value proposition for all stakeholders, here are 10 tips to remember:
1. Offer a Marketplace as an integrated service with MDF/co-op fund management
2. Consider processes, communication requirements, and coordinated planning
3. Roll out locally, but think globally by having a defined workflow process
4. Choose a centralized platform that enables automation, reporting, and analytics
5. Consider your partners’ capabilities and input
6. Be flexible in the assessment and evaluation of your marketing services
7. Offer what you know is impactful and has made you successful
8. Retire what is not needed or used, and measure success using reports and metrics
9. Drive behavior with the right reward system, and be transparent
10. Establish a benchmark to measure against, so you can track your progress
Customers and resellers gravitate toward vendors who are ready to set them up for success. This is your chance to help your teams and your partners become more successful.
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