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

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

How to Improve Lead Management in the Sales Channel

Posted by Seth Jacobsen on Jan 19, 2017 9:50:00 AM

Executing an effective lead management strategy is more vital to growing a business today than perhaps it ever has been before.  At the very least, it’s significantly more complicated. 

Thanks to the Internet, there are now more leads available for more businesses than at any other time in history.  With somewhere between three and four billion people now online - nearly half of the world’s entire population - every business in every industry now has access to a vast pool of potential buyers. 

However, this makes the challenge of lead management a multi-faceted issue.  There are a variety of problems that can arise from poor lead management, and a savvy indirect sales organization will need to address all of them to successfully grow their business and customer base.  

While we recognize that Partner Relationship Management (PRM) software can go a long way towards addressing those issues, there are a number of procedural factors to consider along the way.

Topics: partner relationship management, lead management, channel sales

A 2016 Inbound Marketing Strategy Requires the Right Resources

Posted by Todd Hockenberry on Dec 22, 2015 4:05:00 PM

A key part of any strategy is understanding your resources and planning so that your people, tools, and processes are equipped and aligned. When all of the resources at your disposal work together they allow you to achieve specific goals, like your 2016 Marketing Goals

When we look at some of the things we know, it helps us to better understand the shape of our strategy and, in turn, this allows us to align our resources. Some interesting takeways include: 

Topics: prm, Scale Your Channel, partner relationship management, best practices, lead management, Partner Collaboration, PRM v. CRM, emerging growth companies, Performance, marketing, communication, crm

Get Found Online and Empower Your Channel to Grow Sales in 2016

Posted by Todd Hockenberry on Dec 14, 2015 2:30:00 PM

 

Companies with a large distributed sales channel (reps or distributors) often come to us struggling with how to grow sales and manage the channel effectively.  Under performance is often caused by a disconnect between the manufacturer or service provider and the realities of the buying environment.  In an age of information parity (buyers often have as much information available to them as the salesperson) successful companies drive interest and engagement in ways that match this change in buyer behavior.

There are two particular stats that help to illustrate this point:

Topics: prm, Scale Your Channel, partner relationship management, best practices, lead management, Partner Collaboration, PRM v. CRM, emerging growth companies, Performance, marketing, communication, crm

The PRM/CRM Balance – How to Handle Lead Management

Posted by Seth Jacobsen on Dec 10, 2015 11:00:00 AM


Any business that sells through an indirect sales channel has likely encountered the challenge of lead registration and management. If your emerging growth company is bringing on its first few channel partners you recognize the need to have some type of process in place to share leads. If you are looking to scale an already successful indirect channel you probably realize the complexity of maintaining control and insight into your pipeline. Regardless of how advanced your relationships are with your with channel partners, you understand this is a critical success factor. Our experience has shown us that some common challenges exist as it relates to lead management in the sales channel:


Topics: prm, Scale Your Channel, partner relationship management, best practices, lead management, Partner Collaboration, PRM v. CRM, emerging growth companies, Performance, marketing, communication, crm

Partner Relationship Management Playbook [Infographic]

Posted by Seth Jacobsen on Sep 15, 2015 7:30:00 AM

For many best-in-class manufacturers, a sales channel “playbook” consists of a Partner Relationship Management (PRM) system that allows the “coaches” (CMOs & Channel Managers), and “players” (channel partners and dealers’ salespeople, service techs, parts experts and others) to perform at their very best. With the right blend of smart coaching, great players and a strong playbook, your channel team will be set up to make a title run of its own.

Topics: prm, channel partner collaboration, partner relationship management, Partner Portal, Channel Partner Training, Sales Productivity, channel management software, best practices, PRM Best Practice

Promoting Partner Collaboration via PRM

Posted by Seth Jacobsen on Sep 13, 2015 7:30:00 AM

Many challenges we face within our organizations can be traced back to one root cause: ineffective communication. This in turn leads to poor collaboration, which leads to fewer sales, lower profits, and even lower morale. For companies that provide goods and services through an indirect sales channel, these challenges are magnified. So, what’s the recipe for improving communication between channel partners and ensuring a unified, collaborative effort resulting in across-the-board increases? A technology platform that promotes feedback and improves the quality and frequency of communication is critical to helping you achieve the results you desire. 

Topics: channel partner collaboration, partner relationship management, Channel Partner Training, Sales Productivity, channel management software, PRM Best Practice, Partner Collaboration, channel management, Channel Conflict, channel partner engagement

Increase the ROI of Your Inbound Marketing Strategies [Infographic]

Posted by Seth Jacobsen on Sep 7, 2015 2:00:00 PM

The accelerating transition from traditional outbound marketing techniques to inbound marketing strategies is driving the need for manufacturers to reconsider their roles in the lead development and lead management processes. In addition, the systems that support dealers must be reexamined to support modern marketing strategies for manufacturers who sell predominately through indirect sales channel partners. A Partner Relationship Management (PRM) system is a critical tool to improve your lead management capabilities and increase the ROI of of your inbound marketing investments.

Topics: partner relationship management, Lead Registration, lead management, Inbound Marketing, Infographic

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