How Asset Management Software Resolves 3 Major Sales Challenges-- Part 2

Last week, we discussed 2 major sales challenges and spoke about how Asset Management Software resolved those. This week we take a look at challenge#3-Inability to find and access the asset on-demand.

Inability to find and access the asset on-demand
Salespeople should be focusing on selling. They should be talking to prospects, pitching to them, building relationship with clients, following up with them, and not spending their time looking for that presentation or brochure. But, the reality seems to be different. An asset management tool will bring some order to this chaos and make marketing and sales assets easily accessible to salespeople.

One of the reasons why the assets provided are not used as often is because salespeople rely on and are more comfortable with their CRM platforms and don’t like switching from one platform to another. They are more likely to use the assets provided to them if the assets are available in the CRM itself.

When your salespeople are on the move, they don’t have to wait until they get back to office to send that asset to the prospect they just met with. Asset management systems often allow salespeople to access the assets they need using their mobile devices such as a smartphone or a tablet. This helps your salespeople to be responsive to prospect’s interests no matter where they are or what they are doing. Moreover, asset management systems that integrate with CRMs ensure that your salespeople have access to the assets they need even from the CRM portal that they are using. Your salespeople are more likely to use the assets provided to them if the assets are available in the CRM itself, as they won’t have to switch back and forth between the two platforms and of course, nothing can beat the convenience of having the sales collateral in their beloved CRM.

How Asset Management Software Resolves 3 Major Sales Challenges-- Part 1

Your sales and marketing assets help your salespeople strike up a conversation with their prospects and also play a major role in keeping the conversation going until lead closure. No matter how well-trained or skilled your sales team is, they can’t do much without engaging, relevant content backing them. This makes asset management software an indispensable part of sales enablement. This blog post discusses how Asset Management Software resolves 3 major sales challenges-

Challenge #1-
The need to personalize sales communications
The benefits of personalized sales communication have been long proved.

Personalization, today, has many facets such as
  • Seller based personalization: Personalizing the sales/marketing asset to add the salesperson’s personal touch
  • Buyer based personalization: Customizing the sales/marketing collateral to reflect the recipient’s interest and need. This kind of personalization encompasses text and graphics

Companies and salespeople alike agree that personalized sales messaging plays a key role in buyer engagement. However, for a corporate marketing division to cater to the sales team’s demand for individualized sales and marketing materials on every front becomes challenging.

Sharing assets via the drive or email doesn't support automated asset personalization. A whitepaper shared by salesperson Sally will be the same as the one shared by Peter or Tom or Alice.

A strong asset management software will have the capability to personalize assets
automatically, allowing the corporate marketing team to create standardized assets,
which will be automatically customized to suit the salesperson and the end audience at the time of actual usage.

Challenge #2- Usage of wrong assets
Another challenge that salespeople face is the incorrect usage of assets. Salespeople have so many assets dumped on them from the corporate marketing department that often they are too confused to use them correctly. A product video? Is that pre-demo or post? That brochure with product benefits, should it be sent to the prospects at the start of the conversation or towards the end of the buyer’s journey to stress on the benefits they get by signing up? Where does that one pager fit in? Salespeople grapple with questions like these on a daily basis. And often end up using the assets to the best of their understanding, which may not be accurate. Also, in this process, a lot of assets get ignored by the salespeople who don’t know where to place them in the buyer’s journey.

An asset management software has the capability to gauge the prospect’s position in the sales cycle based on their online behavior and can prompt the salespeople on the assets to be used for each lead based on their interest level/sales cycle position.

Next week, we look at another major sales challenge--Inability to find and access the asset on-demand and explore how Asset Management Software can resolve that.

How complementing your PRM software with lead management services can help your channel partners sell more

Deploying a PRM software to assist your channel partners to sell effectively is great. But, did you know that complementing lead management services can help your channel partners sell more. Your channel partners have multiple vendors with leads flowing in from multiple sources. You can help your channel partners find method in this madness by offering them lead management services as a part of the channel marketing concierge service offering . Lead management services may include

Generating leads for your channel partners
Channel marketing concierge services can help your channel partners [behind the scenes] by generating leads for them. They can take work away from your channel partners without adding to yours. Using the sales and marketing enablement tools that you have invested in for your channel partners, channel marketing concierge service providers can create and run lead generating marketing and sales programs on-behalf of your channel partners.

Importing leads into the sales/marketing platform
So, you have provided your channel partners with a marketing and sales platform to help them push your products and services successfully. But do they really use it to its fullest potential? Do they diligently import leads into the system and automate the marketing process for them? Most likely, NO. Channel marketing concierge services take care of the ground work such as lead import, contact update, etc., into the system, making it easier for channel partners to actually put the marketing/sales platform into use.

Reaching out to leads at the right time (via automated emails) and staying in touch with them regularly using lead nurturing drips
Using channel marketing concierge services, you can help your channel partners nurture relationships with their prospects. Just as you need to stay in touch with your channel partners, your channel partners also have to engage their leads. Lead nurturing translates to lower lead drop rates and higher closure rates. A channel marketing concierge provider can help your channel partners nurture their leads throughout the buyer’s journey.

Pushing hot leads to channel partners 
Using the lead scoring, smart segmentation and routing tools, a Channel marketing concierge service provider can ensure only the best leads are sent to your channel partners. The better the lead quality sent to them, the better the chances of closure. That will make you their favorite vendor!

Your channel partners may not have the time or resources to engage in elaborate lead management processes. Plus, they don’t have the expertise to do that. Offering lead management as a part of your Channel marketing concierge services helps you bring your channel partners closer to success by giving them a clearer picture of their leads and also sends the message out that you are doing everything you can to make it easier for them to sell.

Measurement and ROI reporting as a channel marketing concierge service

If you want to fix bad partner engagement and performance issues, you need to be able to identify them first. That requires measuring channel performance. You can’t fix what you can’t measure. However, vendors often don’t know what their channel partners are up to. Did they take the latest certification program? How did they utilize the MDF? How many deals did they really close? Sometimes vendors are clueless about their channel partner’s activities and just assume they are doing fine. Whereas in reality, the channel partners couldn’t be more lost! This is a big piece in partner relationship management that is surprisingly ignored by many. You cannot fix what you can’t measure. If you want to determine the performance of your channel partners, you need to have metrics to rate their performance.

From your channel partner’s perspective, performance and ROI measurement are important because nobody likes to put in effort if they don’t know the results. Your channel partners would certainly like to know if they are succeeding. If there is no way to measure results, they will either be demotivated or continue to make those efforts irrespective of results--which is a waste of resources. However, your channel partners may not really have the time or expertise to create or understand complicated marketing reports and crunch the numbers to find out if the last email campaign they sent out did well.

Also, you may not have the time to consolidate every report from each channel partner and analyze them. It might be helpful to offer measurement and ROI reporting as a part of your channel marketing concierge services in this case. This helps you monitor and measure your channel partner’s performance and based on that, coach them—offer them the right training and tools to help them do better.

Investing in channel marketing concierge that offers measurement and ROI reporting services tells you, at any given point of time, what your channel partners are doing and more importantly, how they are doing, helping you monitor their performance consistently and coach, guide and support them until they are ready to fly on their own.