Understanding PRM Strategies and Tools

Why PRM?

Partner relationship management (PRM) enables you to optimize relationships with resellers and distributors so you can focus your time on other partner channel efforts.

We’ll walk you through how PRM tools can help increase the quality of your channel sales program, increase partner engagement, and get a better hold on channel performance and analytics.

The Booming Evolution Of PRM Tools + 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.

Businesses using partner/channel technology, such as PRM, experience 48% greater annual revenue growth.
2017, Aberdeen Group

Today’s PRM Platform Drives Your Partner Revenue

Today’s complex business-to-business (B2B) sales cycles demand more from channel technology, because:

The workforce is becoming increasingly younger and more mobile.

Cloud-based subscription models are dominating the industry.

Buyers are using more information sources than ever.

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 PRM Tools

Partner Enablement
and Onboarding

A Great Partner
Training Program

Stand-Out Channel
Marketing Content

A Healthy Pipeline Of Potential Partners

Measure Success Within Your Channel

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 loyalty by:

  • Show partners you have a place and content dedicated to them
  • Allow you to enable partners to their fullest capacity and make them the most successful
  • Show partners you care about their process, leads, and customers they bring
Read More About Partner Enablement and Onboarding

What Does Successful Partner Onboarding and Enablement Look Like?

Partner onboarding and enablement should occur before partners begin selling, and should thoroughly support them throughout each phase of the sales cycle.

  • Outline benefits and automate the application process
    First impressions go a long way. To attract partners in the first place, be clear about the benefits of working with your company.
  • Provide a warm welcome
    Once partners are ready to start, schedule executive kickoff call to convey enthusiasm and answer any initial questions. Consider providing a welcome kit with information and even some swag!
  • Establish goals and expectations
    Develop processes and create a document outlining what partners should tackle in the first 30 days, 60 days, and 90 days.
  • Simplify the process with consolidated tools and technology
    Your partners should be set up for success— not inundated with technology. Your PRM tools must streamline the process by incorporating guided selling, deal registration, and gamification into a centralized, accessible tool.
  • Empower partners with co-branded marketing content
    In addition to partner relationship management tools, co-branded content, and marketing collateral should be provided to immerse partners in your products and services.

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.

Read More About the Partner Training Program

Are You Getting the Most out of your Partner Programs?

PRM software should take your training and education methods to the next level.

  • Does your partner portal simplify onboarding and set your partners up for success?
  • Does your partner portal enable you to keep channel reps up-to-speed with courses you create?
  • Can you offer certifications within training to help your partners succeed?
  • Can you create quizzes to keep your reps up-to-date? Does your portal incorporate gamification to keep partners engaged?
  • Does your portal incorporate gamification to keep partners engaged?

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.

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.

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.

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:

PRM software should take your training and education methods to the next level.

  • What personnel is dedicated to the channel team?
  • From which departments are you borrowing resources (marketing, sales customer success, operations, etc.)?
  • Do your partners have access to customer health data?
  • Do your partners have resources for better supporting customers’ needs?
  • Can you deliver resources to partners so they can self-serve— from onboarding through sales engagement?

Simplify Channel Management and Increase Partner Engagement with Allbound.

Get Your Score!

Your Partner Relationship Management Journey Starts Here

Give your channel partner program an in-depth health-check utilizing the four key performance indicators (KPIs) proven to increase pipeline velocity.

As a bonus, you’ll see exactly how you stack-up against fellow industry leaders and get intelligent recommendations to improve problem areas – all in just minutes!