Are you ready to launch a PRM? It seems that every tool out there can help you in some way, but how can you tell if the benefits outweigh the cost? It all ties back to your reasons for needing the product. For any manager to approve the budget, a tool must not only solve your problems, but the tool should easily achieve its ROI. That ROI can present itself as time back in your day, an accelerated process, better communication, or reduced risk of mistakes. When quantifying all of the saved time, efforts, and unnecessary mistakes, you’re able to paint a clear-cut picture as to why you should or should not purchase a tool. For a partner program, there are a handful of things to consider before launching your Partner Relationship Management (PRM) Tool. These three things will help determine if a PRM is really the right choice for you.
Three—You Want to Eliminate the Manual Process
Think about the past month. How many hours of your week have you dedicated to answering emails from partners, just for them to request that same ebook, case study, etc. two weeks later? You may be thinking “I just sent John Doe that white paper last week, how could he have lost it already?”. Well, emails get deleted, files aren’t saved, computers crash, these are some of the dozens of reasons resources get lost. This may not be a big deal if you have five partners, but what happens when you have 100 partners?
Replying to partner requests, finding the correct content, making sure content is updated, and getting the resources into the hands of your partners can quickly consume your 40 hour work week.
However, if you could find a tool that would save you time and allow partners to access what they need when they need it, why wouldn’t you invest? Not only will it allow your company to save money by freeing up your time, but you can actually get back to what drives you to succeed. Not to mention, you can easily quantify the amount of wasted time and prove the tool’s ROI. If your wasted spend is greater than the price of the tool, you’re on the right track for a good investment.
Two—You Want to Have a Professional Appearance
Professional appearance goes a long way. Executing a strong visual presentation is vital to encouraging growth. Even if your business is small and you have few partners, with strong branding, you can easily demonstrate to your partners that you’re on the path to success. When your brand is strong and consistent across all channels, it gives your brand credibility and makes it easier to recruit and grow your channel program.
When partners are working with multiple vendors it’s important to be consistent. When partners are able to experience a cohesive brand it helps them feel more connected with your company. Little things like this can help lessen partner churn rates and increase partner satisfaction. A little bit of extra effort can go a long way when it comes to a long-term partner relationship.
One—You Want to Enable Your Partners With Resources
It’s important to make the partner journey as seamless as possible, that includes making sure your partners are prepared for anything.
When partners are in the sales process, you need to ensure there are no roadblocks holding them up or delaying the buying process for their customers. With the right resources to confidently seal the deal and engage more frequently with your brand, you’re likely to see an increase in partner success rates and loyalty.
If you want to:
1. eliminate the manual process of interacting with partners,
2. have a professional, branded appearance, and
3. enable your partners to sell better and faster,
A PRM may be a great way for you to reach the stars and skyrocket your channel program. PRMs help encourage partner collaboration and make it easier for your partners to sell for you. When you’re ready, adding a PRM to your technology stack should ignite you. Are you ready for lift off?
Want to see how Allbound can impact your channel program success? Request a demo with one of our #Allstars today!