Deal registration is a common feature of channel partner programs in which a channel partner informs the vendor about a sales lead. If approved by the vendor, the partner is given priority for the lead. Deal registration has proven to be an effective means of mitigating or managing channel conflicts – a situation in which channel partners compete against one another or the vendor’s internal sales department for the same lead/account.
Flexibility
The Bridge Platform offers a lot of flexibility in terms of deal registration by allowing vendors to enable the feature for selected Users.
The process
When a channel partner identifies a sales opportunity, the partner can submit for approval either from within the Bridge Platform using the Registration Form or by submitting via custom-designed landing page forms. Anyone of the vendor Admin User can manually evaluate the registration application according to the company guidelines and either approve or reject the registered deal. This way if multiple partners and internal sales team register the same deal, the Admin approves only one registration request and rejects the others thus protecting the deal and not allowing the other users to negotiate a similar deal with the lead. Once approved, the partner can utilize the Bridge platform’s sales tools to nurture the lead and convert it into Opportunity thus moving the sales cycle forward.
Seamless integration with CRM
If a Company has the approval process in their existing CRM like SFDC, then there is a provision to auto-push the registered deals instantaneously to the CRM where the Vendor can approve/reject the deals and these will be pulled back into the Platform as Contact for nurturing using the sales tools to proceed to close the deal.
There is a provision to import bulk Deals if needed and the Admin can check related deals from other partners before making the decision of approving or rejecting.
Detailed deal reporting
Even for approved Deals, the Admin User can see the sales flow, by viewing the Opportunities created for that particular Deal. There is an extensive summary report using which the Admin User can view the status of Deals registered and their progress for each of the Partner Companies.
Scoring and Incentives can be configured and automatically assigned to the Partners based on the deals registered, approved, or any other condition based on deals.
Supports traditional deal registration
The Bridge Platform also has the old, traditional deal registration feature which can be enabled for a Company. In this, if the deal is approved, partners are granted a set period of time to close the sale and after the period if the deal is not closed, it becomes open for other partners to register again.
Related modules/Sections
The Bridge platform’s deal registration module has multiple sections that allow partner users to
- Register Deals
- Import Deals from CRM
- View the status of the Deals registered (Approved/Rejected)
The deal registration widgets can be added to the User’s Dashboard for quick access to the Deal Registration Module and to get information on the status of the deals as soon as the Users log into the Bridge platform.
From the vendor’s perspective, Admin Users have access to different sections of the Deal Registration Module that allows them to
- Approve/reject Deals
- Import Deals from CRM
- View Summary Reports
As in the case of Partner Users, the Deal Registration widgets can be added to the Admin User’s Dashboard as well for quick access to the Deal Registration Module.
Eliminate channel conflicts with Bridge’s deal registration module
Bridge allows you to manage your lead registration process efficiently by creating an avenue where your channel partners can register new leads. You get to control the flow of leads to your channel partners and to approve every lead registration. No more channel conflicts as Bridge lead registration module ensures no one wastes their time competing for the same customer. Once the lead has been registered, one channel partner will follow-up with the lead and the others will move on to other business. You can also use the information from the lead registration process as a metric to judge partner performance.