Partner Relationship Management (PRM) Services
With more than 70% of the world’s products being sold through indirect sales channels, building, and maintaining an optimized channel program has never been more important to maximize revenue growth.
To achieve this, supporting channel partners with a comprehensive technology solution like Partner Relationship Management is critical.
Partner Relationship Management tools help channel sales executives connect and automate all the elements of their partner management process within one tool. Think of PRM as a gated portal solely dedicated to serving your channel partners.
Common features for PRM tools
- Automating partner onboarding
- Providing partners with a central management portal that’s easy to set up and manage
- Sharing educational and sales enablement resources
- Simplifying the process of logging leads and deals
- Enabling fast payments of affiliate commissions
- Forecasting channel sales and analyzing which partners are most effective
- Preventing sales and channel conflict by ensuring leads aren’t assigned to more than one partner
- Sales analytics: With this feature, you'll be able to track a partner's performance as well as their goals and overall product sales.
- Rewards/loyalty program management: If you want to implement an incentive program to boost your sales of a product or a service, then a PRM will be able to track the partner's progress and implement rewards when a milestone has been reached.
- Marketing and brand management: Having set guidelines on your PRM will help your partners use your logos and marketing materials consistently and will leave little room for error
Your Revenue Growth Team now can help you implement and manage the channel using PRM platforms. Our alliances are below, and we would choose the PRM right for your business, whether you are SaaS, Manufacturing, or related industries.
Our services include:
- Partner recruiting: To recruit partners, organizations must showcase key benefits of the partnership, specifically the ability to help their partners achieve top-line revenue growth. Increasing top-line revenue usually encompasses two key components: generating more demand and effectively closing more deals. Our appointment-setting team can help recruit ideal partners.
- Partner Promotion: We will build landing pages, videos, and other collateral needed to promote the benefits of being a reseller, which will include web forms that we can track.
- Platform management options. We act as a conduit between the platform and your team, reviewing strategies, tactics, and platform implementation. Whether you need a DIY or a DFY solution, we will assist and execute.
Also, SaaS startups can gain tremendous benefit from forming relationships with other companies in their industries. These relationships might look like strategic alliances, channel partnerships, co-branding partnerships.
Within a single system, PRM can support key areas that impact revenue drivers, such as new partner recruitment and onboarding, sales lead management, and partner training & enablement. Having a PRM system in place can positively impact our number of opportunities, close rates, and average deal size - in some cases up to 40%.
Learn more about PRM from our blog post on PRM and Revenue Growth.
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