featureed image Published 2018-03-22, by Kellie Auman

Partner Relationship Management: Creating Ecosystems Ready For Modern Business Needs

To survive in today’s business environment, a company needs to be well-managed, optimized, flexible, and able to quickly respond to changes in the market. Traditionally, these were all areas where indirect sales ecosystems struggled. When a vendor relied on external sales channels to build customer relationships, they had relatively little input or oversight in the process. Often, they had to simply accept that their partners were “doing their best” without much influence.

However, that simply will not work in today’s business environment. Companies building sales channel ecosystems needed ways to increase their flexibility and control, or else they risked being left behind. That need led directly to the creation of Partner Relationship Management (PRM) methodologies. Through a combination of software and smart strategy, it is now possible for indirect-sale vendors to create sales and marketing machines which are nearly as well-integrated as monolithic direct-sale operations!

The PRM methodology offered by LogicBay focuses on three key components: People, Planning, and Technology.

1. Harnessing The Right People

Despite all the technology and innovation, people are still at the core of any business. Are you leveraging your human resources to their best effect? You need critical insights into your product and your customers which cannot be gained through data analysis alone. You need a way for people in your ecosystem, at all levels, to contribute and help build better products or services.

We can offer time-proven strategies and consultation on improving communication with your partners, giving them more opportunities to be heard and contribute. This does not only improve the effectiveness of your ecosystem – it can be a valuable recruitment tool when bringing new partners onboard!

PRM best practices

2. Finding The Right Plan

An indirect sales ecosystem can’t simply ride on inertia, or assume it will continue to find customers just because customers have been there in the past. A modern channel sales system must be engaging in future-focused planning, making strategic movements into new markets and always looking for opportunities to provide better value than monolithic operations. Of course, these must be based in the financial reality of your situation, to prevent over-extension.

LogicBay has a long track record of helping companies large and small improve their ecosystem planning, even accomplishing marketing feats which would traditionally be seen as nearly impossible for an indirect-sales operation!

3. Leveraging The Right Technology

LogicBay offers a revolutionary platform, our ChannelStack Framework, that consolidates all software-based operations in a single easy-to-use interface. Everything you and your partners need is all in one place: Communications, training and certification, rewards programs, technical documents, marketing materials, data collection, lead-tracking, analysis, and more. By itself, this can radically optimize an operation, by removing software-based bottlenecks from the equation. When combined with our industry-leading insights and consulting, it can turn a disparate and barely-overseen ecosystem into a tight sales-generation machine.

This, too, creates a powerful incentive for your partners, because our ChannelStack platform is intended to be shared. They can benefit from it just as much as you! That is absolutely critical in maintaining mindshare, and ensuring their sales staff think of your products first when working with customers.

LogicBay Can Supercharge Your Ecosystem

No matter your current size, or how large you want your ecosystem to grow, LogicBay PRM methodologies can put it within reach. Our combination of expert strategy and groundbreaking software platform can give you the edge over all your competitors. To learn more, or to schedule a free no-obligation demonstration of our system in action, all you have to do is contact us.