Big Changes in ChannelTech
Today’s channel programs require some form of ChannelTech to get off the ground– whether Partner Relationship Management (PRM), Partner Marketing Enablement, Channel Data Management, or other solution you might need. Partners are expecting more from the vendors they work with than ever before. This has made partner portals a necessity for channel programs regardless of shape or size. Changes in the market have every ChannelTech vendor clawing for your business and market share.
The growth of the channel go-to-market strategy is driving acquisitions and millions of dollars in funding that are changing the ChannelTech landscape. This infusion of cash has increased competition among vendors and has subsequently driven down the cost of many ChannelTech solutions.
This year, we have seen pricing changes from several prominent ChannelTech suppliers. List pricing has been slashed by some vendors nearly 50% from last year, and freemium models have entered the ChannelTech scene. Unprecedented discounts of 50-70% off are being offered by others in the PRM space as the logo grab expands.
What do these changes mean for you and your program?
If you are thinking about adding technology and automation to your program, now is a great time to invest. There are more options now than ever before and solutions in every price range. Regardless of your budget, make sure you take time to research the various vendors in the ChannelTech space before you commit.
If you are currently using ChannelTech (aka PRM), you might be paying more than your competition for the same solution. The recent pricing changes have allowed newer programs to hit the ground running and invest in ChannelTech early. For those of you that have already invested, now is the time to review your contract and negotiate. If you can’t negotiate a better price, there are plenty of high quality vendors that would love to have you on their platform. Your early adoption shouldn’t be punished with higher subscription rates.
But go forward with caution! While lower pricing and discounts can be a great thing as a customer, some vendors may not be able to sustain their business models if the prices continue to drop. And, the lowest price option might not be the best for your business. Sometimes a price that seems too good to be true reveals an unstable vendor organization that may not be able to support you in the long run.
RESEARCH, RESEARCH, RESEARCH before you invest your time implementing a piece of ChannelTech. There are many great vendors in the space, some that you might not even know about. (If you want a list, just ask!) Every solution and company is different, don’t be afraid to ask questions about roadmap and business structure before you sign on the dotted line.