The International Data Corporation (IDC) reported 97% of “digitally determined” organizations want fully connected processes across their entire business, yet only 5% are entirely integrated. The future of manufacturing is digital, but getting there can be a challenge. When you’re working with a distribution channel of dozens or even hundreds of partners, change can feel like it’ll cause friction—but the right change will reduce friction and benefit everyone in your channel all the way down to your end users.
In manufacturing, there are two primary ways to embrace digital transformation: through a partner relationship management (PRM) solution primarily for your distribution partners or a digital ecosystem that encompasses everyone from suppliers to customers.
Digital transformation requires platforms that drive connectivity with all key stakeholders and specifically a heightened focus on the customer. Best-in-class manufacturing companies are leveraging digital ecosystems to strengthen key business relationships, grow revenue, and forge valuable customer interactions.
What is a digital ecosystem? In nature, an ecosystem is the collective animal and plant species in a particular environment that are all interconnected. A digital ecosystem for manufacturing includes all the interconnected players in the distribution chain from suppliers to end users, dealers, agencies, trade schools and associations. Digital ecosystems help manufacturers grow their business and become more connected with every aspect of their value chain.
Channel partners are a manufacturer’s direct connection to customers. Building an effective sales channel and leveraging independently owned and operated businesses often presents challenges.
We’ve identified six common challenges manufacturers face, and we built our PRM solution around solving those six challenges. From challenges with partner recruitment to identifying and measuring the right metrics for your distribution channel, a PRM solution will enable a channel to produce optimal results—engaged dealers and customers, brand loyalty and retention, new and incremental sales, and stronger digital connections with key stakeholders.
In this whitepaper, we offer a model that organizations can apply to generate a positive ROI as they consider deploying a PRM system. We also provide two business examples highlighting the solutions we’ve delivered to help our clients overcome industry challenges, along with the accompanied results.
This whitepaper provides a practical framework for managing indirect sales channels and how Partner Relationship Management (PRM) technology and best practices can be applied to help build, scale, and optimize the sales channel.
This paper outlines a progression that is beginning to take hold in the manufacturing sector – best-in-class companies leveraging digital ecosystems to strengthen key business relationships, grow revenue, and forge valuable customer interactions.
Not sure what solutions you need? Let’s connect to talk about your specific business challenges and what kind of digital transformation you need to help your distribution channel thrive.
324 S. Wilmington St.
Raleigh, NC 27601