When vendors at the top of an indirect sales network think about investing in a Partner Relationship Management (PRM) system, their focus tends to be on how PRM will benefit vendor operations. And yes, PRM will do a lot to streamline any vendor’s operations, while making it much easier for them to manage their growing ecosystem.
However, one of the best aspects of PRM is that it brings substantial benefits to partners as well! Both your distributors and their ground-level sales staff can gain numerous advantages through the use of PRM. Here's a few examples of what PRM can do for you:
PRM gives partners access to a huge data silo
Chances are, your partners are running their own CRM systems, and that’s fine… but those systems are only going to have data on their own customers and leads. PRM centralizes and analyzes customer data across your entire ecosystem, and this is functionality you can absolutely share with your partners. They get access to far more data, which helps them in forming their own sales plans.
PRM centralizes marketing material development and distribution
Most lower-level sales partners are going to have limited ability to do their own marketing, plus many will be dealing with a large number of brands – not just your own. Being able to put marketing materials in their hands will be a big help to them, as well as giving them more reason to push your products. Better yet, PRM offers collaborative functionality that allows you to work together with partners who are interested, taking their ideas and refining your outreach to match their needs.
PRM streamlines online systems and logins
One of the biggest pain points for partner distributors and their staff is when their vendors have needlessly complicated online systems which are required to do business. All too often, they have a maze of ad-hoc solutions which require several logins against several different platforms. This creates a huge barrier to productivity! With PRM, that isn’t an issue – technology platforms are unified through a single cloud-based interface.
PRM enables robust rewards programs
Reward and incentive programs are a cornerstone of vendor-partner relations, but they can be a major burden to set up, administrate, and participate in. Challenges with ensuring they are fairly administered across all partners can also be substantial. PRM can centralize these programs as well, or even link to common systems used for collecting “points” and distributing awards – allowing you to offer better incentives, which are easier for partners to participate in.
PRM makes onboarding and training easier
Partners and their sales staff typically hate extended onboarding processes, and will often resist being made to sit through training seminars. After all, those take them away from the phones where they’re making money. With PRM, you can set up fully automated e-learning systems which track individual employee success at a personal level. These can be used to handle onboarding, educating about new product launches, or encourage employee personal development with career-focused training tracks.
In short, PRM really is as good for your distributors and their employees as it is for you. Better yet, these benefits become selling points in favor of your organization. They can be used to help recruit new partners, or increase your mindshare among existing members of your ecosystem. To see just how powerful PRM is for yourself, contact LogicBay for a customized demonstration.