Definition A firewall is a network security system, either hardware- or software-based,…
When was the last time your Partner Relationship Management (PRM) software helped you close an indirect deal? Go ahead, think on that a bit.
It’s ok. I couldn’t come up with anything either.
PRM is a system of methodologies, strategies, software and web-based capabilities that help a vendor to manage partner relationships. Here’s what PRM can do: It can help a channel sales team stay organized, and being organized can definitely help you stay productive which, in turn, has an impact on your bottom line. And for the last 30 years, PRM-type solutions have supported business operations for companies with indirect sales channels by managing and controlling partners. Is it just me, or do the words “manage and control” seem to be the antithesis of the concept of partnership?
It’s time for us to stop trying to manage and control our partners and start truly partnering with them, via collaboration and empowerment. By engaging with partners, organizations have the ability to forge powerful partnerships with more teamwork and transparency than ever before.
Moreover, companies that rely on revenue from channel partnerships must continue to evolve to meet today’s information-focused buyer. Unfortunately, according to Channel Marketer Report, 41% of partners shared that they have insufficient sales and marketing abilities, which isn’t helping them grow your customer base. The same study found that 69% of channel partners are considered “inactive,” a reality that is contradictory to what best-in-class companies would prefer, which are more active and high-performing partners as opposed to a larger quantity of partners.
So rather than simply existing between, say, a manufacturer and its resellers (the way PRM does), today’s channel sales and marketing software needs to transcend traditional partner and channel management solutions to give that same manufacturer the ability to empower each of its resellers so they can better reach and serve their common customers.
Today’s channel sales and marketing software should centralize and connect the people, content and technology for running and growing a channel while providing stakeholders with access to reports and statistics that will help your company accelerate your performance.
Today’s channel sales and marketing software should be truly mobile-friendly, and it should be as enjoyable to use as personal software platforms like iTunes, Netflix and Google Play.
There’s a very real reason why channel technology has been neglected over the past few decades while other areas of marketing and sales technology have thrived: complexity and experience. The channel requires a unique set of skills and knowledge to truly understand, much less to try to innovate. At Allbound, we’ve built a unique team of technologists and sales and marketing experts who have not only “lived” in the channel for the majority of their careers, but who are also driven to show that the changes the industry has been craving for so long can really be accomplished.
I’d love for you to join us December 16 at 1pm Eastern for a 30-minute webinar on channel collaboration and empowerment. Our CEO and founder Scott Salkin will be sharing how businesses are using technology and the cloud to transform their channel ecosystems into a model of collaboration and empowerment, injecting purpose and engagement into partner relationships, and building a channel-wide culture of customer success for both manufacturers and their resellers.
Jen Spencer is currently the Director of Sales and Marketing for Allbound, an innovative SaaS platform that simplifies and accelerates your ability to recruit, onboard, measure and grow your partners. Jen loves animals, technology, the arts, and really good Scotch. You can follow her on Twitter @jenspencer.
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