Reaching your channel’s full potential requires having the right tools in place. Simply put, better technology makes it easier to manage the channel, allowing you to achieve desired business outcomes. Truth be told, the channel has changed a lot over the years, and channel technology has evolved alongside it. Keep reading to learn more about how the channel has transformed, and why it’s important to ensure your channel program is running on the most powerful solution on the market.
The Beginning: Franchises and Dealerships
Back in the day, when you wanted to buy something, you had two options: One, go to the company that makes the product and purchase it from them, or two, wait until a door-to-door salesperson employed by said company came by your property. But in the early 1900s,
Singer adopted a franchise model to sell its sewing machines across the country, giving independent operators who partnered with them the ability to resell their products and make money on the resale. This way, Singer was able to sell more machines, and the franchisee had their own business. Automobile companies mimicked this approach, leading to the creation of car dealerships. These dealerships operated with the same strategy as franchises: Car dealers would sell vehicles at a markup. These companies were able to sell more cars, and dealers owned their own businesses.
The Age of Manual Processes and Spreadsheets
The next phase of evolution involved the emergence of what we now call channel programs. In early iterations, the channel was characterized by tons of manual processes; it was not uncommon for channel managers to spend the bulk of their time tracking down deal status updates, for example. Lacking purpose-built channel tech, channel managers were often forced to manage the ins and outs of their program using spreadsheet upon spreadsheet—or, worse yet, notebook pages! Not only was this approach incredibly time-consuming, but it also resulted in disparate information due to manual data-entry errors. Although this was obviously not the best method, capable channel managers could still get decent results.
The Rise of the Cloud
As cloud computing took center stage and software companies started focusing exclusively on software-as-a-service (SaaS) solutions, early cloud channel tech platforms began to emerge. Although these platforms represented a significant upgrade from spreadsheets—they were designed for the job, after all—they were clunky by today’s standards. Plus, they did not offer support for mobile. The first cloud solutions were obviously a step in the right direction. Still, they left much to be desired, leading us to the next phase.
Purpose-Built Channel Technology
Fast forward to today, and purpose-built channel platforms are now the leading edge of channel technology. Not only do these solutions have robust partner portals, easy-to-implement
deal registration capabilities, and best-in-class sharing functions, but they also support alliance registrations and market development fund (MDF) tracking. Additionally, these leading solutions are designed to work across all devices, enabling channel managers to stay on top of deals when they’re on the go. The best solutions are also built on a foundation of automation, freeing your team from repetitive work so they can focus on bringing in more money. They also deliver self-service analytics capabilities, enabling channel managers to rapidly figure out the best way forward. Add it all up, and if you’re not using this advanced functionality, how could you possibly expect to get the best results possible for your channel?
The Latest and Greatest in Channel Technology
Because you’re reading this, we’re guessing you’re interested in taking the next step in your journey with channel technology. Good news: We’re here to help.
Request a demo of Vartopia today to see what leading channel technology looks like in action.
