Losing the Mindshare Battle: 10 Ways to Turn It Around

Posted by John Panaccione on Feb 26, 2015 4:45:04 PM

When it comes to Partner Relationship Management, few things are as important as the battle for mindshare. You may be familiar with end user/buyer mindshare in terms of traditional advertising. However, when it comes to your selling partners, it means ensuring that they are giving your company preference relative to your competitors. Here’s how to make certain that happens.

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Topics: mindshare

PRM Software: The Best Way to Onboard New Channel Partners

Posted by Seth Jacobsen on Feb 23, 2015 7:30:00 AM

PRM Software The Best Way to Onboard New Channel PartnersThere’s only so much your business can ever do on its own. You can do a lot more with the assistance, not just of great staff members, but of channels partners that will help market and sell your products and services. Before any partner can begin increasing your profits, though, you need to think about how you’ll initially onboard them. While many strategies have been utilized in the past, none compare to simply using PRM software, an option that comes with all kinds of other benefits as well.

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Topics: channel partner management

What You Need to Know about Partner Management and Technology

Posted by John Panaccione on Feb 19, 2015 7:30:00 AM

Having channel partners can be a huge advantage for your business. However, they can also be the source of unnecessary stress and even costs. Sometimes, this is the channel partner’s fault. They simply aren’t holding up their side of the bargain, even though you may be using your own funds in an attempt to help them. A lot of times, though, the responsibility may lie with you. After all, channel partners can only perform as well as you let them. Partner Relationship Management (PRM) is just as important as the money you send these companies in the form of MDF funds or other cost-subsidizing spiffs.

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Topics: prm technology

5 Causes of Vendor/Partner Frustration and What to Do about Them

Posted by Seth Jacobsen on Feb 17, 2015 7:30:00 AM

Most companies look at taking on partners as a huge opportunity  to grow their business. After all, it’s more manpower without the same overhead and many partners can help extend a company’s reach immeasurably. However, without a proper Partner Relationship Management (PRM) strategy, frustrations can grow. Although a frustrated partner may not seem like the end of the world, remember that you’re constantly fighting your competitors for mindshare. At the very least, you’ll want to know when your partners are growing frustrated and what you can do as a result.

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The Best Way to Use Your Market Development Funds

Posted by Seth Jacobsen on Feb 15, 2015 7:30:00 AM

Marketing is always a challenge. It is more an art than a science which means that results are very difficult to quantify. . The adage “I know I am wasting half of my marketing budget - I just don’t know which half” is often true. This can be a real problem, though, given how important marketing is to any business’ ability to thrive. While having other channels for marketing purposes—partners, affiliates, resellers, vendors etc.—is definitely helpful, you also have to ensure you’re making the most of these resources. Market development funds (MDF funds) are a great way to subsidize your partners’ marketing expenses with programs and branded messaging aligned to your standards.

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Topics: MDF Funds

9 Signs You Need Help with Partner Relationship Management

Posted by Seth Jacobsen on Feb 13, 2015 7:30:00 AM

When it goes well, having partners to promote and sell your products and services is a huge advantage. However, when problems arise, even something like Partner Relationship Management (PRM) software may not be capable of solving them. You’ll be much better off if you can see these problems coming and address them before they turn into something greater.

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Topics: PRM Best Practice

Top 3 Reasons to Invest in Partner Relationship Management Software

Posted by Seth Jacobsen on Feb 11, 2015 7:30:00 AM

If your business employs an indirect sales channel, you don’t have to be sold on the advantages that come with these partnerships. That being said, this doesn’t mean you’re getting the most out of those relationships either. Unfortunately, many companies find partner relationship management difficult and hope that it’s something that will more or less take care of itself. This kind of approach is not only guaranteed to produce lackluster partner relationship management results, it could ruin your business altogether.

Instead, consider the following ways Partner Relationship Management (PRM) software can ensure these important relationships reach their potential.

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Topics: partner relationship management, PRM solutions

Your Partners Aren’t Selling­ Are You Setting Them up for Success?

Posted by Seth Jacobsen on Feb 9, 2015 7:30:00 AM

Bringing on partners is usually a great way to expand your company’s business. These businesses can reach new customers on your behalf and even explore new markets. The potential profit any partner represents can be huge. Unfortunately, some partnerships  don’t always live up to your expectations - or theirs. However, if a partner is underselling, some of the fault could belong to you. Let’s look at some ways you can help set your partners up for success.

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Topics: channel support

MDF Funds: Are You Getting the Most Bang for Your Buck?

Posted by Seth Jacobsen on Feb 5, 2015 7:30:00 AM

If you are a manufacturer that has devoted a portion of your marketing budget to an MDF program for your channel partners, you understand the difficulty in making this program a success. Some partners see MDF funds as nothing more than a way to improve the bottom line. Others are much more effective at putting these funds to use to increase opportunities and close more business.

Whether it’s because MDF is seen as “free money” or because they just don’t plan ahead, some of your partners may not be giving you the most bang for your MDF buck.

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Topics: MDF Funds

Three Reasons Your Partner Relationship Management Efforts Are Broken (And How to Fix Them)

Posted by Seth Jacobsen on Feb 4, 2015 7:30:00 AM

When Partner Relationship Management (PRM) strategies are working, they can be one of the most profitable components of your business plan. They are the best way to leverage these important relationships. By getting the most out of your various partners, you can experience the greatest potential in sales too. Unfortunately, when Partner Relationship Management is lacking, your profits follow. Before long you are spending a majority of your time tending to unsuccessful relationship rather than nurturing the ones that are profitable.

Here are three reasons you may have a broken relationship and how you can fix it.

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Topics: channel management


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