Getting to the deal registration phase of the partner journey is only half the battle — you and your partner need a plan in place for lead management to ensure you can make it to closed-won.
With different partner types and a surplus of potential deal scenarios, there are many variables to consider. Establishing a strong partner lead management strategy and leveraging a PRM to implement it will help drive deal efficiency and increase your conversion rates.
Partner Lead Management Missed Opportunities
There are three key partner lead management opportunities you may be missing out on:
Not Empowering Partners with a PRM — Implementing a PRM is key to fully leveraging and scaling the value of your partners.
Overlooking Strategic Content Creation — Reusable content for each stage of the sales journey, with your partner types in mind, is a powerful tool to accelerate deals.
Ignoring Opportunities to Scale — Your partner network is only as strong as your ability to drive revenue — invest in strategies that enable scale.
Successfully Leveraging a PRM for Improved Lead Management
Leveraging a PRM has been linked to increased projected revenue, and if you haven’t yet implemented and optimized your portal’s underlying software, you could miss out on enormous opportunities for scale.
While there are many PRM features you should consider taking advantage of, there are three you should ensure you use for optimal lead management.
Streamlined Deal Registration
Deal registration can be tedious for partners, but it’s an essential first step in the lead management process. Without a solid deal registration system, you risk facing deal ownership conflict and won’t have accurate analytics.
Automate Engagement Activities
One-off partner communications shouldn’t consume your day. You can streamline repetitive tasks by automating specific engagement activities while freeing up your team’s time.
Consider automating partner communications, content distribution, deal registration, contract development, and other time-consuming tasks.
Assess Pipeline Health Through Channel Analytics
Assessing your pipeline health will give you an overview of your partner program’s strengths and opportunities for improvement.
Regularly monitor your channel sales analytics to pinpoint areas of friction, then work with your team to minimize or eradicate them.
Strategic Content Development & Distribution
The right content delivered at the correct moment can help drive deals toward closed-won. Some of the most effective forms of strategic content include tactical sales playbooks and a pipeline map with target resources.
Sales playbooks are powerful tools to support partners throughout the lead management journey. Through your PRM, strategic sales playbooks can be shared with the right partners at the right time based on deal registration and activity tracking. By sharing a custom sales playbook, you will equip your partner to nurture the deal to close-won efficiently.
Pipeline Map with Corresponding Resources
You should also consider outlining your sales funnel to demonstrate the journey leads go on with you and your partner.
Within that pipeline map, link to corresponding resources designed to help push leads to the next stage, such as competitor comparison battle cards, email templates, case studies, and integration cheat sheets. Your PRM should then recommend relevant materials based on the specifics and status of the registered deal. These resources will empower your partners to take leads to the next stage.
Additional Ways to Improve the Efficiency & Conversion Rates of Partners Post-deal Registration
By investing in a few key strategies early, you can improve the efficiency and conversion rates of partners post-deal registration.
Partner Prospect Pages
Address common sales barriers head-on and highlight key value propositions with sales prospect pages co-created with partners. By attracting high-quality leads, you’ll be able to streamline the post-deal registration process and increase conversion rates.
Strong Partner Education
Partner education is essential to many aspects of a strong lead management strategy. With strong training and tactical resources, your partners will be ready to nurture leads in any scenario.
Enable your partners early by providing thorough training within your PRM. Keep your educational resources updated, and encourage your partners to revisit training resources regularly.
Implement Partner Tiers
By implementing partner tiers, you’ll be able to monitor and reward partners that bring in more valuable deals. With partner tiers in place, you can prioritize leads brought in by top-tier partners, as they’re more likely to close and drive additional revenue.
Optimize Your Partner Lead Management Processes
Don’t let leads fall to the wayside after deal registration. Build and implement a strong partner lead management process to nurture prospects through the entire sales journey, all the way to closed-won.
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