Six Managed Services To Increase the Value of Your PRM

Posted by Kellie Auman on Mar 16, 2017 5:05:00 PM

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.

Topics: prm, Scale Your Channel, PRM solutions

Leveraging Increased Security And Reliability Through Amazon Web Services

Posted by Seth Jacobsen on Feb 21, 2017 11:20:00 AM

Amazon Web Services (AWS) is the world’s largest and most popular source for cloud services and web hosting.  They’re available to businesses large and small, and are trusted as hosts by some of the largest and most popular websites online.  But just because companies like Netflix and Airbnb use AWS for hosting, does that mean they’re right for your business as well?

At LogicBay, the answer was absolutelyWe have found AWS to be an excellent solution for a wide variety of cloud- and distributed-computing needs.  Their ability to provide us with the highest levels of security, increased responsiveness and uptime, have allowed us to meet the global needs of our growing customer base. But we're not alone in this assessment.

Topics: Scale Your Channel, PRM in the cloud, cloud security, cloud reliability, software as a service

What You Should Consider When Evaluating PRM Providers

Posted by Seth Jacobsen on Feb 16, 2017 9:40:00 AM

While the market for Partner Relationship Management (PRM) software is relatively new, it’s an area that’s attracting plenty of attention for its ability to impact change.  There are already several PRM choices which are considered mature, robust, and are being widely deployed.  And as indirect sales channels continue to become more important, it seems inevitable that more names will be added to that list in the days to come.

Of course, it’s not enough for a software solution to merely be well known. It still needs to fit your particular organizational goals as well.  In many cases, the best solution includes a combination of technology and services. This is where selecting the right PRM provider can become tricky.  A successful PRM implementation requires understanding your needs along with the capabilities of the software you’re considering, to ensure the two are in alignment. 

So today, we wanted to present a general step-by-step guide for the process of selecting a PRM provider.  

Topics: Scale Your Channel, prm strategy

Partner Recruitment and Your Ideal Partner Profile

Posted by Seth Jacobsen on Feb 14, 2017 2:14:00 PM

It’s a buyer’s market out there in more ways than one.  Due to the proliferation of business startups in recent years, and the vast reach of the Internet, virtually every company is facing more competition than ever before.  That’s not just true for B2B or B2C enterprises, but also for indirect-sales organizations seeking to sign up new sales partners.

In the same way that smart marketing today involves aligning sales and marketing efforts to precisely target buyers, a vendor looking to grow their channel ecosystem should also be focused on smart outreach to potential partners.  It can’t be a “one size fits all” effort.  Because local sales outlets almost always have a wide variety of potential partnerships on the table, they’ll be going with the vendor(s) who can best meet their own business needs.

Of course, having an ideal partner profile is key. From there, the better you can communicate your value proposition to each potential partner, the easier it becomes to create a compelling pitch to bring them onboard.

Topics: Scale Your Channel, Build Your Channel, partner recruitment

Demonstrating The ROI Of Partner Relationship Management Software

Posted by Seth Jacobsen on Jan 25, 2017 8:15:00 AM

It’s fine to talk about all the benefits of Partner Relationship Management (PRM) software in the abstract, but sometimes it's important to lay out the business case in order to move forward.

Whether it’s showing the value of PRM to your own executive team, or using it as a selling point when recruiting new sales partners, being able to show some hard numbers pointing to the effectiveness of PRM can be a big help.  This starts by looking at the areas where PRM reduces inefficiencies and other barriers to revenue, then by applying those key points to your own financials. 

We have identified seven key areas where PRM can impact an organization's ability to increase revenue, reduce costs, and drive a positive ROI.

Topics: Scale Your Channel, ROI of PRM

The Most Common Inefficiences in Sales Channels and How to Fix Them

Posted by Seth Jacobsen on Dec 28, 2016 3:40:00 PM

Everyone wants a well-optimized channel sales program, but you don’t get there without clearing away some of the common challenges that can lead to gridlock and a general lack of productivity.

It's not at all uncommon to be aware that your sales channel is under-performing, but knowing where to begin to address this issue is another challenge altogether.  This can be tricky, since in many cases, the underlying cause of inefficiencies can be separate from the underperforming areas.  In other words, it’s easy to mistake symptoms for the disease.  But without identifying and addressing the underlying “diseases,” the symptoms will never entirely go away.

So, based on our own experiences, we wanted to talk a bit about common issues we see in channel ecosystems leading to larger systemic issues preventing true efficiency. And one piece of advice if you find more than one of these apply to your organization: start by focusing on one area of improvement and work on that until you have gained a competitive advantage. 

Topics: Scale Your Channel, channel sales

Supporting A Growing Sales Channel Throughout Its Lifecycle

Posted by Seth Jacobsen on Dec 20, 2016 10:40:00 AM

One of the philosophies we feel strongly about here at LogicBay is the need to support companies through the various phases of sales channel development.  While it’s common to talk about a “sales lifecycle,” it’s far less common to see similar discussions of businesses and their sales partnerships. 

However, this belief that sales channels should be treated as growing ‘organisms,’ so to speak, is at the heart of our Partner Relationship Management technology and services. It’s not a platform specifically designed for small, medium, or global organizations.  Rather, LogicBay PRM is designed to grow alongside your organization, with scalability to support your efforts at each stage of channel growth.  

Specifically, based on our interactions with hundreds of companies since 2003, we have identified four key ‘phases’ of growth:  Three which represent the normal, sustained, healthy growth of an ecosystem, as well as a fourth which indicates sub-optimal performance.  Our goal is to help support best practices across all these phases, while assisting those that are looking to turn things around.

Here’s how it breaks down.

Topics: Scale Your Channel, Optimize Your Channel, Build Your Channel

Reviewing 2016 To Create A Better 2017 For You And Your Sales Partners

Posted by Seth Jacobsen on Dec 15, 2016 10:20:00 AM

The end-of-year is coming up, which makes this an excellent time to review the performance of your indirect sales channel.  One of the most critical aspects of managing a network of channel partners is continually monitoring key performance indicators for areas of improvement. 

At the end of the year, you also have the opportunity to evaluate what's working - and what's not - as you establish goals for the upcoming year. By taking a critical look at 2016’s performance, you can help ensure that 2017 looks even brighter for yourself and your partners.

Topics: Scale Your Channel, sales partners

Sales Channel Challenges - and Opportunities - Facing Today's CMOs

Posted by Seth Jacobsen on Dec 8, 2016 10:20:00 AM

Chief Marketing Officers have a lot on their plate these days.  Markets and technology are changing rapidly. Their job is to stay on top of both and find ways to keep their organizations on track  toward better ways of doing business.

Recently, SiriusDecisions conducted a survey of CMOs around the world, and got a lot of insights into what’s on their mind these days. We found it very interesting, in large part because many of the challenges facing CMOs today are magnified by the complexities of supporting a sales channel. They have a lot of opportunities to improve performance, and are continually looking for creative solutions to help support them.

Topics: Scale Your Channel, channel sales, channel marketing

Picking The Right Carrots: How to Effectively Incentivize Your Channel Partners

Posted by Seth Jacobsen on Oct 4, 2016 10:25:00 AM

When it comes to inspiring better performance among your sales partners, one of the most reliable options is the incentive program. Whether you're fighting to increase mindshare among sales reps pushing many competing brands, or simply looking to boost sales among dedicated franchisees or VARs, incentive programs have been shown to be highly effective.

But of course, there are a lot of possibilities for incentive programs out there, and not all of them are as effective as others. Some can even end up being money pits, if they cost more to implement than they bring in via increased sales.

Topics: Scale Your Channel, channel incentives

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