How to Design a Winning Channel Partner Compensation Plan
There are many ways to compensate your channel partners, but there is no one-size-fits-all approach. Your compensation strategy depends heavily on what you sell, how you sell it, and the fundamental nature of your product. Imagine this scenario: Your company sells directly and is experiencing rapid growth. However, as sales increase, you face the constant need to hire new internal reps. When requests come in from abroad, administrative obstacles and a lack of local market knowledge hold you back. Expanding your business globally requires local professionals who understand regional nuances. Establishing a channel partner network can save you from administrative headaches and become a powerful engine for global growth. But once you’ve done your research and identified the territories and partner types you need, how do you attract them? The key element of any attractive global partner program is a well-structured channel partner compensation plan . Before launching your program, yo...