As the person responsible for your channel partner relationships, you are always looking for ways to help your partners increase their sales effectiveness. You have a defined focus on driving sales and improving partner engagement, and you are interested in any tools that help. A technology solution like Partner Relationship Management (PRM) software has the scalability to meet your near-term priorities, while being able to grow with your business over time. Below are 7 ways that a PRM solution can improve your channel partner sales productivity.
- Onboard new partners. It's imperative to have the right tools in place to quickly authorize and equip your new channel partner, so that they can begin selling your products and services. Your partners need access to a system that is quick to implement, robust and easy-to-use. Today’s top PRM solutions have a single partner portal that your channel partners can use to interface with your company and help reach revenue targets.
- Enable partner sales teams. During times of timeover, you need a system in place that will help your partners quickly train their new hires and make them more prepared to sell for you. Today’s PRM solutions allow you to quickly engage with new hires and make them productive in a short period of time.
- Avoid channel conflict through deal registration and lead management. PRM technology provides tools for managing leads and avoiding channel conflict. Your channel partners are going to have leads and they will need to register them. Today’s PRM systems have workflows for lead registration and approval. PRM platforms integrate with the enterprise CRM such that sales activity for both direct and indirect selling efforts can be managed in one platform.
- Deliver training & certification programs. PRM technology provides tools for structuring, launching and managing channel training events. These tools can enable instructor-led classroom training, webinars, e-learning, workgroup collaboration and on-the-job performance support.
- Provide marketing & communications support. With a full-service PRM solution, companies can effortlessly manage sales and marketing collateral, news, announcements, and alerts. In addition, the more robust PRM solutions incorporate the ability to help your partners market at the local level and collaborate more effectively. Dialogue with your channel partners on a regular basis is vital to the channel partner relationship.
- Develop processes around new product introductions. New product introductions are the heart and soul of any growth company like yours. However, coordinating all of the activities across many groups can be cumbersome and anxiety filled. A PRM solution provides your product managers and marketing team an easy-to-use dashboard for the coordination and execution of new product launches out to your channel partners.
- Implement sales performance tools. Sales people like immediate feedback on their performance. A PRM system allows you to establish, measure and manage sales performance indicators. Further, the right solution provides you with the tools to motivate, incent an reward your channel partners.
Alignment, collaboration and engagement are critical success factors when it comes to improving the sales productivity of your channel partners. The right PRM solution can help reach the goal of mutual success.
Looking for more detailed information? Our e-Book on Partner Relationship Management (PRM): Best Practices addresses the demand for business intelligence and many other challenges related to supporting an indirect sales channel.