Getting more out of your channel partners with better PRM

Selling through channel partners presents unique challenges. How do you get your channel partners on the same page as you? How do you get them to push your products or services as well as you’d like them to? This post tells you how you can get that “something extra” from your channel partners to fill that gap.

Offer the right training
You may have recruited the best partners, but have you offered them the best training? How strong is your partner on-boarding process? Does it cover every aspect of your business and product/service line that your channel partner needs to know? If you want your channel partners to sell your product the way you would do it yourself, a strong partner on-boarding and training process is a must. It enables your partners to understand your market, product and selling methodology as well as you do.

Offer the right tools
What tools are you giving your channels partners to help them sell? Are your channel partners relying on a set of outdated presentations and other sales collateral to pitch your product/service? Provide your channel partners with tools that help them sell your product effectively.The right selling tools for channel partners include-

Offer support
One of the key ways to differentiate yourself from your competitors is by offering complete support. Support your channel partners with playbooks and documented sales processes, so they know exactly which way to go. If you have provided your channels with a channel enablement software, then make sure it is easy-to-use and the vendor offers strong technical support.

Lead registrations and MDF fund management
How easy is it for your channel partners to register their leads or apply for MDF funds? By making mundane administrative processes easier, you are giving your channel partner more time to focus on the real stuff:selling.

Despite spending a sizable amount on channel partner incentives and marketing programs, companies often find that there is a gap between their expectations versus actual channel partner performance. Companies can bridge that gap by partnering with a channel enablement company that takes care of every element involved in PRM-- from attracting the right channel partner, on-boarding them, providing them with the tools they need to sell to offering the right kind of support, so you and your channel partner can benefit from the relationship.

PRM, Channel and Sales Enablement Leader Mindmatrix Leads the Industry with #OnePlatformm

Introduces the #OnePlatformm hashtag, new logo, and updates website and description to match the company’s core ideology that complete enablement of direct and indirect sales channels cannot happen in silos

Mindmatrix Inc., the Pittsburgh-based, leading PRM, Sales & Channel Enablement company has done a major branding overhaul to match its new positioning as the ONLY platform in the industry that offers sales and marketing enablement of direct and indirect channels.

Harbinder Khera, CEO, Mindmatrix, says, “Ever since its inception, Mindmatrix has been ahead of its times. When others were only foraying into email marketing automation, we were offering a complete marketing enablement platform and by the time the industry caught up with us on marketing enablement, Mindmatrix had already moved to marketing and sales enablement and more recently, to PRM and channel enablement. If there’s one thing we realized during this journey, it is, that enablement of your sales networks--be it direct or indirect, cannot be in silos. You cannot have 5 different platforms in place for 5 different requirements. For your sales/channel enablement efforts to be successful, you need a single solution that covers the core areas--asset management, marketing, sales, channel and operations. This is what Mindmatrix offers--one single platform to suit all the needs of every sales model. And, that is what we are trying to say out loud now with our new website, positioning statement, logo and the #OnePlatformm hashtag.”

There has never been a better time to learn more about Mindmatrix and our #OnePlatformm philosophy. The sales and channel enablement pioneer is going to be sponsoring Channel Focus (May 2-4, San Diego), Nuvello “Leveraging New Technologies to Amp your Channel (May 8-9, San Francisco), SiriusDecisions Summit (May 15-19, Las Vegas), and Channel Visionary (May 31-June 1, Los Angeles). Feel free to schedule an appointment or just drop by if you are in town!

3 Quick Tips to Great Partner Relationship Management

Looking to truly enable your channel partners? Then, this blog post will tell you where to start.
Step #1: Understanding your partners 
First, try to understand who your partners are. Answer questions like

  • Where are they located
  • Which market do they target
  • What products/services of yours do they sell best

Step #2: Who are their customers 
Analyze your their customer profile. At this stage, you need to answer questions like:

  • What is the core Target Customer Segment: Draw up a detailed persona of each customer type in the target market. Document their their title, role, position in the decision making hierarchy, etc.
  • Target Industry: Find out which industry verticals are targeted by your channel partners and their success rates with each of them.
  • Buying Process: Document the typical sales process at the partner level. How much time does it take to convert a lead? What are the key milestones in the process?
If you are enjoying reading this blog post, you might want to sign up for our upcoming webinar.
Step #3: Use the information
The next step is to use the data you collected to enable your channel partners in multiple ways such as-

  • Developing local marketing programs: You can customize your corporate marketing and sales campaigns to suit the local markets of your channel partners.
  • Generating sales and marketing collateral specific to the target industries: Your channel partners may have been using unfocused, generic sales and marketing materials. Now that you have key data about your target industry, you can use this information to develop sales and marketing assets that address the specific issues of each core target industry vertical.
  • Documented sales and marketing best practices: Once you have a clear view of the buyer’s journey and the key milestones in the sales process, you can use that information to chalk out a guided sales process for your channel partners. Use the information to streamline your marketing and sales processes to speed up the buyer’s journey and shorten the sales cycle. Develop marketing and sales best practices to be followed at each step of the sales cycle. Provide your channel partners with assets that are relevant to their prospect’s milestones in the sales cycle and see them warm up sooner to your channel partners. 

Think these tips were helpful? Then you might want to check out the upcoming PRM Webinar, Fast-Tracking Demand in B-to-B Channels. Kathy Freeman Contreras, Research Director-SiriusDecisions will be discussing-
  • The most effective means for delivering lead generating programs that achieve the highest adoption rates and ROI
  • How you can drive better engagement and marketing performance with partners
  • The 4 phases of the SiriusDecisions Fast-Tracking Channel Demand Model
  • How you can prepare for a successful sales enablement project
The webinar is on Thurs. 27 April, 12 PM EST/9AM PST. 

Click here to register. Can’t attend live? Please click here to register for a recording.

Hope to see you at the webinar!

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