What is multi-partner deal registration?
Multi-partner deal registration comes into play when more than one of your channel partners is involved in a sales opportunity. It’s all about tracking each partner’s contribution to a deal, and ensuring they’re properly rewarded for their efforts. In today’s world of complex and interconnected partner ecosystems, it’s becoming increasingly common as businesses have learned that we all grow when we work together.
Here’s how it works: Let’s say you sell high-end security software, and you have a network of partners. For a large client, you might have one partner who identifies the opportunity and sends them your way via a referral link, a second who closes the sale, and finally an implementation partner that gets the customer up and running. In a multi-partner deal registration, each of these partners would register their role in the deal, ensuring that they receive appropriate credit and compensation.
Multi-partner deal registration is crucial for several reasons:
- Fair compensation: It ensures that each partner is fairly compensated for their role in the sales process, fostering a sense of fairness and motivation
- Avoids channel conflict: By clearly defining each partner’s role, multi-partner deal registration can help to prevent conflicts or misunderstandings between your partners and internal teams
- Tracks contributions: It provides you with a clear overview of who’s contributing what to your sales, helping you identify your most valuable partners
- Encourages collaboration: It fosters a collaborative environment where partners can work together on larger deals, rather than competing against each other
In essence, multi-partner deal registration is about recognizing that sales success is often a team effort. It’s a way to ensure that each partner gets their fair share of the credit, fostering a healthy, collaborative partner ecosystem that’s built to grow.