ATLANTA - Aug. 25, 2021 - Allbound, a world-leader in partner relationship management technology, has announced the debut of its innovative European-based PRM hosting capabilities based on changes in data privacy related to Schrems II & Privacy Shield. The...
For most organizations, implementing a PRM solution is about opening communication channels with partners, creating more self-service training for quicker and easier onboarding, and delivering the right assets at the right time to ensure sales success.
However, as a vendor, you’re going to want to ask yourself a few more questions to ensure you’re picking the right PRM solution for your company’s specific needs and business goals. Here are four important questions to ask to guarantee you’ve got the right PRM solution:
1. Does the PRM platform provide analytics and reporting?
Channel partner success doesn’t just happen—you have to provide your channel partners with the training, information, assets, and tools to succeed. If you’ve been wondering how your partners are engaging with your marketing content or whether they’re really going through all of the training modules, a PRM solution with detailed reporting can be the answer. A robust PRM solution delivers the ability to see a variety of analytics, including:
- How partners are interacting with and sharing content
- How partners are advancing through certification tracks and training
- How many leads are being generated
- How many deals are being closed
The best way to assess how your partners are performing and how you can better help them is through data and reporting. Additionally, the ability to pool the data with third-party integrations can provide a thorough, detailed look at how your partner programs are performing. With detailed reports and meaningful data in hand, your organization can see what is working and what might need to change to better serve your partners and your overall business goals.
2. Is the PRM solution scalable?
As your organization expands its channel programs, it’s important to have a PRM platform that is scalable. With scale comes two concerns: practical system scalability and pricing.
Look for a PRM tool that delivers a cloud-based platform for self-service onboarding and training options, as well as on-demand content for partners. When your solution delivers everything partners need to succeed up front and when they need it—from marketing assets to case studies to lead-qualifying worksheets—scaling your partner program becomes easy and seamless. Also, be sure to keep your content and assets up to date in order to empower your partners to take the lead on delivering your product or service to market and securing more deals more quickly.
For pricing, choose a partner program that doesn’t charge for each additional user. A PRM solution should make growth easy, attainable, and immediate, so look for a PRM that offers a flat monthly fee; that way, if you go from dozens of users to hundreds of users, you won’t be hit with sticker shock.
3. Does the PRM software play well with my other martech tools?
To make sure you’re getting the most from your PRM platform, one of the most important questions to ask is whether the solution will integrate well with the martech tools you’re already using. Whether you’re using Salesforce or HubSpot, you need to ensure that the PRM solution you’ve found allows for two-way integration. Guaranteeing that your tools are in sync from day one means you’ll secure buy-in from all of your teams and partners. When all of your tools play well together, you can unify data inputs and add powerful new insights into your partner program efforts.
Asking the right questions is the first step in choosing the right PRM solution for your partner programs. Not only should the PRM tool be easy to implement and manage, but it has to meet your requirements, tackle your pain points, and provide a positive return on investment.