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If you’re serious about the mutual benefit of POS data, you should be willing to have an agreement that will subject you to punitive damages if the information is used against the distributor. Here are 9 strategies you can use to encourage distributors to submit POS data 1. Therefore, it is up to the manufacturer to take necessary initiative and establish the trust that encourages distributors that acquiring their POS information serves their best interests. When reporting partners are content with an optimized channel POS information collection and reporting process, manufacturers gain business intelligence on vital customers that translate into future revenue. Point-of-sale records obtained from reporting partners contain this crucial and fundamental information.
#Pos data how to
Without knowledge of the customer, management can only guess how to sell a product. As is often the case, channel partners and distributors may feel that sharing POS data puts them in a vulnerable position, particularly if you lack an established relationship. The fear of disintermediation is alive and well-and distributors recognize the wealth of power they possess in protecting this imperative data.
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The truth is, POS information is a sensitive subject, and your channel partners rely on this “confidential” information to stay ahead of the competition, which includes making sure you don’t sell directly to their end-customers. However, distributors and channel partners may not share the same feeling. So, It should be clear by now that encouraging distributors to hand over their Channel POS data is neither quick nor simple. As a manufacturer, you depend on POS information to facilitate critical business decisions, reward partners and evaluate essential sales analytics such as product performance, market trends, and customer behavior. When it comes to channel distribution, acquiring accurate and timely POS data information is your bread and butter. The following information draws on 30+years of working with manufacturers on how they can encourage distributors to submit channel POS data.