As real estate professionals, the key to driving sales and establishing long-term, trustworthy relationships with channel partners lies in the implementation of a comprehensive channel partner strategy. In the past, offering strong incentives and commissions may have been sufficient to attract channel-driven sales. However, today’s channel partners are tech-savvy and possess a strong understanding of marketing, which enhances their ability to build trust with customers.
It is essential to note that the role of channel partners has evolved, and they now demand a transparent, prioritized, and clear approach in their dealings with builders. Fostering a strong, trustworthy relationship with channel partners will lead to increased references and business opportunities. Builders can support their channel partners by providing clarity, confidence, and support in the products they offer. Implementing an efficient and effective channel partner strategy is crucial in maintaining this trust and ensuring a continuous inflow of business.
To accomplish this, builders must have certain processes in place, including:
Streamlined Onboarding
An efficient onboarding process is crucial for establishing a strong relationship with channel partners. Implementing an automated sign-up process on your website demonstrates your readiness to support your partners and provides equal opportunities for all potential partners. Manual registration processes can impede the speed of onboarding and make your organization appear unresponsive to the needs of your partners.
Access to Information and Product Knowledge
Keeping your channel partners informed about product availability, pricing changes, commission structures, and project descriptions is key to fostering a strong relationship. Automating the process of communication can streamline the flow of information and make it easier for partners to access the latest updates. Providing access to a personalized online login for your partners ensures regular communication and addresses any queries they may have.
System-Based Support
A robust partner management system can provide real-time information on product availability, pricing, and quotations. The system should also allow for flexibility in pricing and discounts, and manage commission structures effectively. A well-designed system will not only provide peace of mind, but also create a positive impression in the minds of buyers.
Lead/Deal Tracking
The ability for channel partners to register their leads and deals automatically is a critical aspect of effective partner management. This helps avoid conflicts and ensures accurate tracking of deals and commissions. A system-based approach makes it easier for channel partners to register deals, track progress, and receive updates throughout the sales process.
Regular Updates and Alerts
Proactive updates and alerts from the partner management platform can build trust and avoid dissatisfaction. The platform should provide automatic notifications of significant events in a deal and make it easy for partners to access the status of a deal with just a click. Regular updates and open communication help to establish a strong foundation of trust between builders and channel partners.
Automated Conflict Resolution
Conflicts can arise in the course of managing daily operations with channel partners. To resolve conflicts efficiently, a system-based approach is recommended. An effective resolution center should allow channel partner managers or sales teams to identify conflicts, investigate causes, make decisions, and communicate the process to the channel partner. Paramantra’s Partner Management System provides a comprehensive suite of features to manage daily operations with channel partners and drive sales success. The solution goes beyond ordinary systems and provides support for every aspect of the critical path to sales success, ensuring channel partners feel like an extension of your team.
The implementation of a comprehensive channel partner management system, such as Paramantra, will streamline operations and provide practical features for driving efficiency in the channel partner strategy. From onboarding to compensation, Paramantra’s solution goes beyond ordinary systems, offering features that support every aspect of the sales process. By automating processes and managing partners effectively, builders can retain channel partners as long-term contributors to their revenue.
