Communication And Tracking Crucial To Deal Registration

Deal registration programs must be able to provide incentives for all of the partners in the sales channel, so the most successful sellers will actually want to register their hot deals and expose their customer data to other partners. The benefits of registering the deal in the deal registration software database must outweigh the risks of sharing information with other partners. With effectual deal registration management, however, partners will see the benefits of registering deals and selling specific products or services that the vendor is trying to promote more heavily. Effective communication and consistent enforcement is probably the most critical factor to the success of a deal registration management program, so every partner in the sales channel is aware of the program rules. Vendors must create simple and clear criteria for deal registration submissions and approvals. This information must be published on an easily accessible deal registration software database, and there must be supporting processes in place so the rules will be enforced and understood.

The rules should also be communicated within the context of the deal registration process to avoid misunderstandings by anyone in the sales channel. Some vendors believe that the only process of the deal registration management process that needs to be automated is the registration itself, but this is not necessarily true. The amounts of deals that are registered in the deal registration software database are not the true measure of the program's success, but rather the number of deals that translate to actual revenue. Deal registration software should be able to track increases in channel revenue, and the managers of these programs must look at the full lifecycle of a deal to track its success. This means automating and integrating the entire process, from deal registration to closure, and analyzing the predictability of sales along the way.

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