April 6, 2021 – G2Crowd, the world’s leading business solutions review website, released its Spring 2021 Report on Partner Relationship Management (PRM) Software. Allbound continues to be recognized by G2Crowd Grid Reports due to the responses of real users for each...
Any channel sales team worth its salt has invested time, money, and resources into numerous tools and technology. Some work, others don’t. And because of these negative experiences, some teams may be unwilling to adopt new tools.
Channel sales technology is worth the investment. Don’t believe us? Recent research found that partner or channel technology users improve their overall company revenue growth at a 48 percent greater rate, annually, compared with non-users. Along with additional revenue in the door, this technology leads to an increase in profit margins—an impressive 64 percent rate year over year.
So it’s clear that these returns in revenue make a case for both refining partner and channel efforts and augmenting their impact with technology. But how, exactly, are teams using sales productivity tools? And why do teams grow sales and revenue at faster rates?
At its core, this technology empowers teams to work smarter, not harder. To help illustrate exactly how teams use channel sales technology, let’s review some benefits.
Increase Selling and Response Rates
Channel sales reps work endlessly to close deals, while simultaneously trying to avoid deals that are unlikely to close. However, with analyzing calls, interactions, and emails, this gets time-consuming. And sometimes, details may slip through the cracks. Reps are only human, after all.
Sales productivity tools simplify and automate tedious tasks—so that reps can devote their time to more important tasks. These tools also help teams prioritize deals that are likely to close. While sales PRM tools can’t predict the future (not yet, at least …), what they can do is increase sales success and response rates, which is just as cool as predicting the future, right?
Harness the Power of Data
Sometimes, sales is an art. It takes a special type of person to work their magic and close certain deals. However, while gut feelings are great, hard facts are even better. Sales acceleration software not only equips teams with invaluable data, but also empowers them to understand it—and turn it into results.
Sales acceleration tools automatically filter information from emails, CRM, and marketing automation platforms, so that channel sales teams can make the most of situationally specific data. This technology helps channel partners chart exactly when they began implementing certain productivity tasks, which, in turn, provides insight on where to concentrate their energy next.
Clean, relevant data helps partner sales teams discern whether their efforts are producing the highest increase in sales. With more business intelligence, teams can accelerate their sales cycles and speed time to market. This enables them to determine where they need to focus their efforts to generate even more sales with the next round.
Centralize Your Marketing and Sales Efforts
It’s nearly every organization’s goal to align sales and marketing. However, this is easier said than done. If marketing pulls in one direction without informing its sales counterparts, then the quality and quantity of leads can decrease. To make things worse, this is doubly true in channel sales, as partners are dispersed across the country.
Centralizing your sales acceleration efforts with technology can greatly impact your channel sales efforts. When channel partners leverage sales productivity tools, they avoid confusion or overlap and stay up to date on marketing campaigns. Technology keeps everyone on the same page by prepping reps to close loops and delivering content that is relevant to their needs.
Acceleration software also provides internal channel teams with oversight into their programs. Management can see how partners compare to each other, who’s engaging with training, and who’s utilizing playbooks. Channel teams can then use this data to compare against internal success. This not only enables teams to see what’s working, but also increases sales productivity and accelerates your company’s entire sales process.
Aligning sales with the buyer’s journey is essential in today’s channel landscape. Unlike outdated legacy portals, PRM systems, and workflows focused on management and control, sales enablement tools are designed around the customer. It’s no wonder that teams see these growth rates.