InSight Medical’s purpose is to research and analyze our Principal companies’ product offerings / market opportunities & also propose and execute the relevant operational strategies that will lead to commercial success. This scope can start in the early stages of opportunity assessment and extend all the way to the end of the product life cycle.
InSight Medical’s dedicated ‘Channel Partner Managers’ who possess vast experience working with different & diverse client cultures across the MENA region; will provide you with the most effective methods and tools needed to Identify, Recruit, Develop & Manage; the RIGHT ‘Channel Partners’ for your products, to jointly plan for your ‘Channel Partners’ growth and success, and to significantly improve the level of business / human relationships amongst all parties.
InSight Medical develops & implements its ‘Channel Sales Programs’ for MedTech & Health IT industries, around the following facts:
ALIGNING our Sales Strategies around your customer
When you start with an in-depth knowledge of your markets and customers, you’re better able to predict through which channel a prospect is most likely to purchase your products or services. Aligning our channel sales strategies around your customer is the best way to ensure that your ‘Channel Partners’ will be focused on the right prospects for your products. This will eliminate wasted time in partners trying to generate leads and opportunities that are not in your sweetest spot.
DELIVERING targeted & valuable incentives
Today, partners have a plethora of options available to them, meaning they have more power in selecting manufacturers or vendors offering more attractive incentives. Manufacturers or vendors, on the other hand, are often inclined to keep incentive programs simple so that to avoid the overhead costs and organizational challenges. However, by simplifying your incentive offerings; you’re taking the risk of losing potentially valuable ‘Channel Partners’ to your competitors, who may make their incentive structure more attractive and valuable for your existing partners.
SUPPORTING your ‘Channel Partners’ on-the-ground
A big factor in the success of any ‘Channel Sales Program’ is supporting your ‘Channel Partners’ directly & on the ground. In order to do that, you will need a DEDICATED ‘Channel Partner Manager’ – someone responsible for the oversight and management of your ‘Channel Partners’ sales activities & relationships, someone to ensure that your ‘Channel Partners’ are equipped with the right tools and incentives that cultivate their growth, and strengthen the relationships between your company and your most valued customers.
COUPLING our ‘Sales Strategies’ with clear objectives
Channel Sales strategies are important, but they are difficult to implement without clear objectives, careful execution & ongoing management. Defining measurable, actionable, and specific goals for your company and your ‘Channel Partners’ sets expectations for both sides of the relationship. Coupled with joint accountability, continuous feedback loops, ongoing periodic reviews & onsite visits by our ‘Channel Partner Managers’; provides visibility into progress, enables to identify shortcomings or areas in which your ‘Channel Partners’ may require better support
‘PRODUCT- PARTNER FIT’ is as important as ‘PRODUCT- MARKET FIT’
It’s very important to identify ways in which your product offerings can complement the channel partners’ current product line. When your product is offered by the ‘Channel Partner’ and / or packaged within their offerings, you can quickly and easily acquire more customers and leverage into NEW markets / segments.
RECOGNIZING that not all ‘Channel Partners’ are the same
While it’s important to find the channel partner perfect fit (out of the 3 different types of channel partners i.e. the ‘Sell to type’, the ‘Sell through type’ & the ‘Sell with type’); your ‘Channel Partner’ should be treated as you’d be treating your own valued customer; by providing them with relevant & timely information that incentivizes a desired action.
ADDRESSING the ‘HUMAN’ element
The human aspect of collaboration with your ‘Channel Partners’ is often neglected! Communication between individuals is KEY, as people need to talk to each other and not past each other. An open, honest engagement occurs when both parties are seeking the same goal and recognizing that neither party is going to succeed alone.