Partner Relationship Management 101: Part 2 of 2

Posted by Seth Jacobsen on Mar 23, 2017 5:30:00 PM

Below is a quick recap from Partner Relationship Management 101 - Part 1.

You can also read the full article here

PRM software is an all-in-one, web-based tool designed to help manage and maintain partner relationships.  PRM is easily accessible and ensures each user (vendors and/or partners) has access to the areas they need for success.

Common features of PRM software include:

  • A single access portal, often cloud-based, and available to everyone in your channel ecosystem.
  • A database of customer leads.
  • A centralized communications tool.
  • A central digital repository of all documentation and marketing materials.
  • Learn-at-your-own-pace training modules.
  • Data on your entire channel ecosystem.
  • A customized, data-based incentive program.

Now that we have defined PRM software and provided information on the common features, let's learn how using the tool can benefit your company.

Topics: prm, Build Your Channel, partner relationship management

Partner Relationship Management 101 - Part 1 of 2

Posted by Seth Jacobsen on Mar 21, 2017 11:05:00 AM

Partner Relationship Management (PRM) software is becoming a hot topic, particularly as more businesses look to embrace indirect sales models where they rely on sales partners to drive revenue.  There are enormous challenges associated with managing a growing channel ecosystem, particularly given how much buyer behavior has changed in recent years.

PRM is the software solution that can make business relationships, and growing your ecosystem more manageable.  If you haven’t looked into PRM before, we have put together a brief, two-part guide that will fill you in on its features and why PRM makes sense in a modern indirect sales scenario.

Topics: prm, Build Your Channel, partner relationship management

Six Managed Services To Increase the Value of Your PRM

Posted by Kellie Auman on Mar 16, 2017 5:05:00 PM

Partner Relationship Management (PRM) software is a powerful and flexible technology solution available for managing a growing vendor\partner ecosystem.  When implemented well, PRM can be a great do-it-yourself solution that streamlines most aspects of partner management while giving you a wealth of new data sources and analysis tools to gain more insight into your ecosystem.

By adding managed services to your PRM package, you can offload much of the “busywork” of maintaining a partner network, freeing you to focus on your core competencies and your actual day-to-day relationships with your partners.  You can also partner with experienced indirect-sale industry experts who can consult with you on business plans and growth strategies to improve every aspect of your ecosystem.

While managed services may not be required for a PRM implementation, they can be highly useful and worthwhile – particularly as an ecosystem grows and a Partner Manager needs to find ways to make the most of their time.  Listed below are six managed services that take the value of your PRM to the next level.

Topics: prm, Scale Your Channel, PRM solutions

Refine Your Partner Recruiting With A Go-To-Market Strategy

Posted by Seth Jacobsen on Mar 9, 2017 10:40:00 AM

GTM strategy documents are starting to become fairly commonplace throughout sales-oriented businesses, particularly those who deal directly to specific target niches in B2C or B2B markets and want to ensure an audience focus.  They might not immediately seem to have relevance to indirect sales ecosystems – since many of the elements covered by a GTM document would be handled by partners – but they can be put to use specifically for targeting your own partners.

After all, as a vendor, you are effectively selling yourself to your partners.  And as we’ve discussed in the past, smart alignment between your own business goals and those of your partners is key to building effective long-term partnerships.  A partner-focused GTM strategy can bring many of the same benefits to partner recruitment and retention that they bring to a direct sales strategy.

In particular, with increased competition in the indirect-sales market, a good GTM strategy can help you differentiate yourself in markets where partners may be choosing between many vendors.

Topics: channel partners, marketing, sales partners, gtm strategy

Boosting Your B2B Content Marketing Strategy in 2017

Posted by Seth Jacobsen on Mar 2, 2017 3:02:00 PM

While it previously lagged behind B2C applications, B2B content marketing is now a robust and mature method for companies looking to reach new customers.  Current studies show that the vast majority of B2B organizations are now utilizing content marketing, and most to significant success.

This is particularly relevant to vendors utilizing indirect-sales channels, because B2B content marketing can serve two purposes. It can be utilized to help drive new buyers to their websites - or those of their sales partners - in addition to being used for recruting new partners.  We encourage our own partners, as well as businesses that work with our consulting team, to utilize content marketing to good effect in both aspects.  

Based on our own experiences, and our thoughts on best practices in the industry, we have some tips on how to make the most of your own B2B content campaigns for 2017 and beyond.

Topics: content marketing, channel marketing

Most Common Mistakes Made When Managing Sales Partners

Posted by Seth Jacobsen on Feb 28, 2017 8:35:00 AM

We don’t only provide Partner Relationship Management software here at LogicBay; we understand the importance of professional services for a complete channel program.  We work directly with our own consulting partners, as well as our established customer base, to understand best practices in channel sales and management processes.  As such, over the years, we’ve come to learn a number of common mistakes among those selling through channel partners.

If you’ve been in the indirect sales game for years, you may have already learned some valuable lessons from - or navigated around - some of these issues.  However, if you’re looking to expand or improve your channel partner support, we've compiled the following list to help you improve your chances for success.

Topics: partner relationship management, channel management, channel manager, channel partner management

Enabling Your Partner Sales Reps Through Training & Certification

Posted by Seth Jacobsen on Feb 23, 2017 3:50:00 PM

Today, one of the most critical aspects of B2B sales is simply being able to keep up with changing buyer behavior.  Between the pace that new technologies are altering sales processes to changing buyer demographics, the entire nature of the sales cycle is evolving. That affects salespeople as well as buyers.

One of the best ways to keep your partner sales reps prepared for these changes is through the delivery of training and certification programs.  The challenge is setting up the right training materials in such a way that they’re appealing to those that need to take it.  Rewards and incentives can only go so far.  If partner sales staff (or your own) see your training modules as a waste of time, or as interfering with their own productivity, they’ll likely skip it entirely.

The balance lies in creating a program that combines the right tools to make your partners more effective, while encouraging their ongoing participation.

Topics: Optimize Your Channel, Channel Partner Training, sales training, partner enablement

Leveraging Increased Security And Reliability Through Amazon Web Services

Posted by Seth Jacobsen on Feb 21, 2017 11:20:00 AM

Amazon Web Services (AWS) is the world’s largest and most popular source for cloud services and web hosting.  They’re available to businesses large and small, and are trusted as hosts by some of the largest and most popular websites online.  But just because companies like Netflix and Airbnb use AWS for hosting, does that mean they’re right for your business as well?

At LogicBay, the answer was absolutelyWe have found AWS to be an excellent solution for a wide variety of cloud- and distributed-computing needs.  Their ability to provide us with the highest levels of security, increased responsiveness and uptime, have allowed us to meet the global needs of our growing customer base. But we're not alone in this assessment.

Topics: Scale Your Channel, PRM in the cloud, cloud security, cloud reliability, software as a service

What You Should Consider When Evaluating PRM Providers

Posted by Seth Jacobsen on Feb 16, 2017 9:40:00 AM

While the market for Partner Relationship Management (PRM) software is relatively new, it’s an area that’s attracting plenty of attention for its ability to impact change.  There are already several PRM choices which are considered mature, robust, and are being widely deployed.  And as indirect sales channels continue to become more important, it seems inevitable that more names will be added to that list in the days to come.

Of course, it’s not enough for a software solution to merely be well known. It still needs to fit your particular organizational goals as well.  In many cases, the best solution includes a combination of technology and services. This is where selecting the right PRM provider can become tricky.  A successful PRM implementation requires understanding your needs along with the capabilities of the software you’re considering, to ensure the two are in alignment. 

So today, we wanted to present a general step-by-step guide for the process of selecting a PRM provider.  

Topics: Scale Your Channel, prm strategy

Partner Recruitment and Your Ideal Partner Profile

Posted by Seth Jacobsen on Feb 14, 2017 2:14:00 PM

It’s a buyer’s market out there in more ways than one.  Due to the proliferation of business startups in recent years, and the vast reach of the Internet, virtually every company is facing more competition than ever before.  That’s not just true for B2B or B2C enterprises, but also for indirect-sales organizations seeking to sign up new sales partners.

In the same way that smart marketing today involves aligning sales and marketing efforts to precisely target buyers, a vendor looking to grow their channel ecosystem should also be focused on smart outreach to potential partners.  It can’t be a “one size fits all” effort.  Because local sales outlets almost always have a wide variety of potential partnerships on the table, they’ll be going with the vendor(s) who can best meet their own business needs.

Of course, having an ideal partner profile is key. From there, the better you can communicate your value proposition to each potential partner, the easier it becomes to create a compelling pitch to bring them onboard.

Topics: Scale Your Channel, Build Your Channel, partner recruitment

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