SALES MANAGEMENT BENEFITS
TechVM enables you to focus on meeting product development and delivery cycle targets. TechVM takes care of aligning partners to your key business and technical needs and executes alliance plans that fully document the working relationship of the partnership. TechVM has experience across a wide array of vertical markets and understands the in-depth business and technical details required for successful engagements.
KEY FOCUS AREAS INCLUDE
- Build an alliance network of distributors, manufacturer representatives, and value-added resellers by identifying, qualifying, and recruiting key sales partners with target market expertise, service capabilities, and customer reach.
- Define, document, and maintain strategic alliance business plans with global sales partners that:
- State your specific revenue goals and design-win objectives.
- Establish formal sales and market penetration programs that align and drive partner business development, marketing, sales, and support activities to your strategy and direction.
- Establish an agreed-upon process by which partner performance is measured (revenue, design wins, etc.).
- Define the rewards that drive partners toward meeting and exceeding goals (preferred partner status, sales margin rewards, partner recognition programs, etc.).
- Increase sales and market penetration, improve your bottom-line business results, and enable long-term repeat business.
- Execute and manage alliances, gaining partner commitment to the relationship.
- Manage and optimize partner on-boarding activity.
- Enablement: Ensure partner has necessary marketing materials, sales tools, and support infrastructure.
- Training: Ensure partner is well versed on your products and capabilities so your message is communicated effectively to customers.
- Promote partnerships within your company for the purpose of increasing sales visibility and reducing costs and TTM.
- Plan, drive, and champion joint marketing, business development, and sales programs that:
- Include referral influence, co-sell, demand creation, and reseller programs.
- Provide clearly documented objectives and confirm all parties are in alignment.
- Extend and promote the partner relationship to new prospects and markets, driving revenue generation.
- Detail sales goals, partner performance metrics, and reward incentives.
- Plan and drive the development of turnkey technology solutions that would not be possible without partner involvement.
- Develop the value proposition and document features, performance, benefits, competitive advantages, and sales strategies for executive endorsement and sales messaging.
- Document the full business plan including revenue impact, development costs, cross-dependencies, development milestones, TTM, recurring expenses, and support plans.
- Clearly delineate responsibilities among all parties, detailing line item expectations and responsibilities.
- Establish and enable processes for cross-leveraging infrastructures, sales channels, and market reach of both parties, detailing:
- A statement of cash flows, identifying those parties with end responsibility for costs associated with shipping and taxes.
- Logistics associated with sales, order-entry, product shipment, support, and product returns.
TARGET MARKET PLANNING
- Work with internal resources to develop target market penetration plans that detail:
- Opportunities within target markets / geographies / accounts for existing and planned products.
- Customer value and economic drivers that influence the customer decision process.
- Key partners required for market success.
- Solutions requirements, including functionality, performance, I/O bandwidth, cost models, efficiency at performing customer task, etc.
- Competitor SWOT analysis.
- Provide customer feedback for the purpose of improving and adapting your product offerings to reflect market needs.
- Facilitate communications and relationships between key customers and your product line management to solidify relationships and help drive future product direction.
- Create short/mid/long-term business plans for identifying and winning opportunities at target markets and customers.
- Lead negotiations of detail-oriented, highly technical, multi-party contracts that align partners to your needs and achieve your specified goals:
- Commitment to sell your products and services as preferred solutions.
- Development of platforms that serve target markets based on your products.
- Ensure partner provides customer support services.
- Working with the legal team, establish standards based agreements for use with partners that clearly define partnership business and technical terms, minimizing contract amendments.
- Renegotiate existing partnerships for the purposes of maintaining alignment with your current strategy and reducing costs associated with royalties, inventory management, returns, warehousing, shipment, consignment, etc.
- Minimize legal fees by obtaining agreement on business and technical engagement plans prior to involving legal counsel.
BUSINESS DEVELOPMENT & SALES
- Provide sales penetration in target markets that cannot be accomplished effectively without sales partners.
- Develop and execute lead generation activities, outbound prospecting, lead qualification efforts, and opportunity identification.
- Articulate and present your company overview, technology offerings, and product positioning to business and technical influencers and decision makers.
- Serve as your product specialist and business advocate.
- Lead and influence the customer decision process.
- Act as a resource that provides professional business and technical advice to customers.
- Solve customer needs and long-term strategic goals with your products and services.
- Develop proactive solutions/proposals and responses to RFIs, RFQs and RFPs to secure new accounts.
- Process quotes, sample requests, and orders.
- Reduce support requirements by providing first-level customer support.
- Increase sales and market penetration, improving bottom-line business results and enabling long-term repeat business.
ACCOUNT MANAGEMENT & PLANNING
- Build and maintain strong relationships with influencers and decision makers, gaining commitment to your product offerings and achieving preferred supplier status.
- Develop account penetration plans, detailing:
- Key decision makers and influencers for each opportunity.
- Global opportunities at each account.
- Obstacles for each opportunity and strategies for overcoming them.
- Company structure, locations, and management hierarchy.
- Customer selection process and timeline, development timelines/schedules, product release date, and sustaining engineering expectations.
- Conduct strategic planning activities at target accounts, becoming involved in customer-confidential planning to ensure customer product and service needs are anticipated.
- Work with sales and engineering teams to ensure they are involved in customer activities to support and close sales opportunities.
- Manage the role of sales partners, brokering field-based sales relationships to identify and close joint sales opportunities.
- Lead and facilitate formal and informal partner reviews with CxO, Sales, Marketing, and Engineering groups.
- Build and strengthen relationships with partners, gaining partner commitment to sell your solutions as their preferred offering.
- Align partners with the alliance/business plan and your current strategic goals, providing guidance and positive direction.
- Define, document, and gain consensus on expectations and metrics by which performance will be measured (revenue, sales registrations, and design win status).
- Drive global partners toward meeting and exceeding sales goals with incentive programs (preferred partner status, participating in joint development and promotional programs, sales margin rewards, etc.).
- Identify impediments impacting sales effectiveness, developing a clear action plans to overcome obstacles.
- Identify new opportunities for partner programs that expand market penetration and increase sales
- Identify new and unexposed opportunities within target accounts.
- Communicate sales successes and failures, detailing product strengths leading to wins and deficiencies impeding sales.
- Utilize your CRM reporting tools for opportunity visibility so you can accurately forecast sales and manufacturing demand.
- Forecast return on investment of each partner/program, accompanied with:
- Quantified and detailed business value of each engagement.
- Accurate tracking of resource allocation and deliverables.
- Statement of cash flows including: projected revenues, one-time development expenses, and recurring expenses associated with manufacturing, inventory management, maintenance, and support.
- Maintain active partner forecasts and provide regular reports on:
- Prospecting and lead generation activities.
- Opportunity pipeline and forecast.
- Forecasts by customer, detailing each opportunity and how your products/services fit into customer solutions.
- POA and POS forecasts for each partner.
- Reconcile accounts receivable, accounts payable, invoicing, backlog, and manufacturing requirements.