Partner Relationship Management focuses on helping organizations selling through the channel
to be more productive in managing their relationship with the partner base.
Recruiting new channel partners is not a singular activity only to be done at the launch of a partner program but an ongoing process to ensure that you have the right partners in place to achieve your market coverage and revenue goals.
Partner Onboarding refers to the process of engaging new partners, signing them up, initial training and the transition to working on deals. The ideal partner needs to be identified based on demographics, business focus, future plans, current portfolio of offerings, and customer base.
Deal registration programs can help vendors influence partner behavior, enhance collaboration, reduce channel conflict and measure partner performance. At the same time, these programs provide vendors with real-time visibility into channel pipeline.
Co-branding can have a huge impact on the your market by empowering your partners to associate their identity with yours--all while maintaining the integrity of your brand. Co-branding taps into the visibility and sentiments associated with each existing brand, and your partners typically know their local markets better than the vendor.
Just as employee incentives are critical in driving performance within the organization, partner incentives are an essential element in driving the performance of partners. An effective PRM solution will provide channel incentive programs that fall into several categories: MDF, rebates and rewards.
The age-old 80-20 rule (where 20% of partners generate 80% of revenue) has characterized the channel practically since its inception. A PRM system can deliver powerful business intelligence that tracks and correlates data related to partner performance with metrics on sales, marketing, operations and training.