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.
Research shows that close to 70% of the buying decision is made before ever engaging with a supplier. With this in mind, successfully managing your sales channel can be extremely complex. There are three notable trends to consider to stay ahead of the competition and achieve success with every market opportunity.
#1. B2B buyer behavior is changing the game.
#2. Mobile-ready technology is a must.
#3. Better data is helping guide us to make smarter decisions.
Let's jump straight into part two of highlights from our recent webinar covering best practices and sales tactics for channel sales leaders.
Part II – Four Profitable Heresies - Michael A. Brown from BtoBEngage presented content during the webinar in four key areas:
1. Identification & development of sales opportunities. Your goal is to cultivate and drive practical opportunties for your organization. In doing this, you need to have uniform lead scoring and criteria and a definitive release point from marketing to sales, while still maintaining enough flexibility that sales can get involved at any appropriate point.
We recently hosted a webinar on channel revenue growth, and it was a huge success – plenty of participation and great feedback from all who participated. The event was hosted by our own Seth Jacobsen, and featured two fantastic guests: Marty Tascona from Deliberate Selling and Michael A. Brown of BtoBEngage. The result was a talk full of great advice for companies who are both new to the indirect sales market, as well as established members of the community.
The webinar itself is still available online to view, but in case you’re in a hurry, we wanted to put together a ‘highlight reel’ of the most important information conveyed in the next two blogs. Today, we’ll focus on Marty Tascona’s contributions and then in the next blog, we’ll look at Michael A. Brown’s advice.
For anyone responsible with supporting channel partners, you know that anything you can do to help your partners drive more sales while keeping your company top of mind will bring great benefits. Managing partners is the most difficult aspect of running a business focused on indirect sales, and successfully managing your partners will expand your sales numbers in ways that could never be accomplished on your own.
Realizing this is the easy part. Getting there is a challenge, in more ways than one.
Listed below are five ways to increase partners sales.
The great thing about online video is that it can be done quite cheaply. One belief to dispel is that B2B content videos need to be slick and professionally-produced - they don't.Some (largely anecdotal) evidence even suggests that more rough “homemade” videos tend to be trusted over videos that appear too flashy. A decent iPhone or similar smartphone is really all that’s needed to make a decent web video, although better equipment is nice if you have access.
Whether your company has chosen to develop a corporate video, product demo, or a how-to video, keep in mind the list of guidelines provided below. These tips will ensure that you end up with engaging, low-cost marketing content to distribute through your channels.
Current trends in online content marketing all point in one direction: VISUAL. Among visual content, video has become an increasingly popular form of outreach for businesses targeting consumers at any level, even executives. In fact, top level executives have become some of the biggest consumers of video marketing materials.
As a vendor, you’re in a great position to produce video content. In many cases your sales partners will lack the budget, time, or talent to create effective videos themselves, so creating video marketing applications that your partners can leverage will help drive sales and increase your overall value to them.
Here at LogicBay, we’re committed to delivering the most comprehensive Partner Relationship Management (PRM) system on the market, backed by managed services that provide the initial and ongoing support necessary for a successful sales channel. Over the years, we have continued to develop lead management capabilities that allow our clients to improve sales support across their partner channel. For anyone managing a sales channel, you'll know this is no easy task. However, we’ve recently incorporated three new enhancements to our Lead Management Module that are bound to give you better visibility into your sales pipeline and help you increase sales velocity in the channel.
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.