The Booming Evolution of PRM Tactics
The New Generation of PRM
A subscription-based model for marketing and selling technology has taken over and channel partner programs have a new lease on life. As a result, a new generation of API-based PRM tools have taken the industry by storm due to their ability to deliver real, measurable results. These tools focus on user experience, partner engagement, collaboration, integration, and real-time intelligent data.
Today’s PRM Platform Drives Your Partner Revenue
Today’s complex business-to-business (B2B) sales cycles demand more from channel technology, because:
These factors reinforce the notion that integrating channel technology into your marketing and sales stack can no longer be reliant upon complex, expensive, hybrid-SaaS platforms. Your sales teams and channel leaders no longer have to spend their time looking for content, processes, tracks can now be clearly and simply built, and you can finally have clear insight into your channel health.
Today’s generation of simple, powerful partner relationship management tools are the future of channel sales and marketing - and critical to successful partnerships.
True SaaS platforms substantially decrease the costs associated with extensive customization, service, and support. Modern partner management is about analyzing data across disparate departments to learn what is most successful. Now teams can build their channel programs around real, hard facts.
Growing Partner Programs with a Modern Toolset
Approaching today’s channel demands without the right tools is like trying to perform complex, high-speed tasks on a dial-up modem. Sure, it’s possible. But it’s ultimately an exercise in futility because you’re limiting yourself–and your partners–while creating unnecessary headaches and expenses in the process.
The right PRM platform can help move the needle by enabling teams to achieve key performance indicators (KPIs).
What’s worse than not having the right technology? Having too many tools that don’t talk to each other. You’ve already invested in technology, you don’t need more stacked applications. Synchronized tools eliminate wasted investments and resolve ineﬃcient processes.
Augmenting your existing marketing investments with a plug-and-play platform designed around the needs of channel partners result in technology that helps your channel.
5 Key Components of Next-Generation Partner Relationship Management
One: Partner Enablement and Onboarding
Strategic, Repeatable Onboarding and Enablement
It’s critical for PRM tools to enable strategic, repeatable onboarding and enablement processes. Effective PRM programs establish communication guidelines and provide partners with the right information at the right time, thereby setting partners up for success.
Encourage Partner Engagement and Loyalty
A PRM can help you:
Partner onboarding and enablement should occur before partners begin selling, and should thoroughly support them throughout each phase of the sales cycle.
Below is what successful partner onboarding and enablement should look like:
Two: A Great Partner Training Program
Consistent and Optimized Training
Ensuring your partners are ready to sell is only one step in building and maintaining engaged, productive channel partners. Your efforts must be ongoing and your partner portal must optimize your training techniques. Overtime, you can see which partners are spending time on your training and certification programs.
Content Available Anytime, Anywhere
Your PRM platform should present content and information in a way that resonates with your partners and ensures they can access it anytime, anywhere.
PRM software should take your training and education methods to the next level.
To ensure you’re getting the most from your partner systems, ask the following:
Three: Stand-Out Channel Marketing Content
Align Your Marketing Content with the Buyer’s Journey and Your Sales Funnel
Arrange content into playbooks based on verticals, personas, life-cycle stage, and business outcomes to take some of the heavy lifting from your partners. Customized, co-branded content keeps partners up-to-date on products and services and helps them reach customers effectively and efﬁciently.
Build Brand Potency
Strong content that’s properly utilized in an indirect sales channel will help you build brand potency. The right tools empower resellers to access content on the ﬂy and enables channel then to track the content that converts browsing to sales. PRM tools improve end-user engagement with marketing content by making content discoverable, rankable, shareable, and usable; so you can provide access to the right people at the right time.
Four: A Healthy Pipeline of Potential Partners
Nurture Leads at All Stages of the Sales Cycle
While your customer relationship management (CRM) software may provide some visibility into the lead management process, your PRM tools should integrate with your CRM to provide a holistic view of the entire pipeline. Partner relationship management tools implement lead nurturing efforts at all stages of the sales cycle and provide appropriate information to all managers and teams that need to track progress.
Five: Measure Success within Your Channel
See What Content Resonates Best with Partners
PRM tools have the capability to help you determine which content partners engage with most. From there, you can use that data to understand which content most often leads to deal registrations. You can also see where you should spend your time for other channel initiatives after analyzing overall channel health, pipeline and content engagement.
Support Your Partners
Supporting your partners is step one in creating a successful channel sales program. It’s critical to have an accurate overview of your organization’s current capabilities and resources.
To determine if your PRM can scale as your partners scale, ask yourself these questions: