The Role of PRM Software in Helping Your Partners Sell More for You

If you are a channel manager or a business owner, chances are you've sat down, taken a good look at your partner base and wondered why your partners don't sell more. After all, you have a great product, it's easy to use, and you have market penetration--what could possibly be the issue? The truth is, there are many problems channel partners face when trying to resell. Here's a rundown of some of the most common issues they face --

Marketing Challenges for SMBs
Enabling partners to market your products can be harder than you think. The truth is, most small to medium sized businesses (SMBs) might have a marketing team but not really be familiar with industry standard strategies to show value to their prospects, such as pushing educational content that shares general solutions your product provides vs outright discounts and sales to push product. As a channel manager, you need to find ways to empower your resellers to market efficiently and with respect to best practices.

The best way to do this is to provide content that supports these efforts. Many PRM software programs thrive because they offer a way for partners to download appropriate content that directly helps these marketing efforts. Ensure that you are sharing the same content with your channel partners.

Sales Challenges regardless of business size
I've mentioned before that one of the issues you can face is competing for market space in your channel partner's catalogue of reselling options. One of the biggest obstacles you'll face is ensuring your partners understand that your products exist and how to sell them. Knowing your brand exists is great, but do your partners really understand how to talk about your product's relationship to their prospect's bottom-line? Being able to speak intelligently about the solutions your product brings to the table is a tremendous asset when trying to close an opportunity.

A complete PRM software can help you create assets that target common customer personas (CTOs, CIOs, CEOs) who would make decisions to buy and empower your channel partners with materials they need to support those prospect's buying decisions across applicable markets.

You can provide these resources through PRM software as well -- call scripts, presentation decks, product comparison sheets--all of these items cut down on time needed to close deals and can result in greater sales.

Product market competition
Have you prepared any assets that explain how your product stands out from your competitors? Branding makes a difference here, but providing your partners with talking points and additional knowledge about why your value is so much better will be a huge boon to your channel program.

Make sure your PRM software offers access to quick resources, such as video content or simple training materials that channel partners can absorb to better understand your product's advantages and benefits.

PRM Software alone is not enough: Getting more out of your PRM Program

Despite spending a sizable amount on PRM Software, companies often find that there is a gap between their expectations versus actual channel partner performance. 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? Investing in a PRM Software alone doesn't help. This post tells you how you can get that “something extra” from your PRM Program to fill that gap.

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.

Companies can also enlist the assistance of a PRM software consulting company that takes care of every element involved in PRM and Channel Enablement-- 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.

About Mindmatrix
Mindmatrix is the only single, fully integrated platform offering complete marketing and sales enablement for direct and indirect sales. Mindmatrix offers PRM software, Channel Marketing software, Asset Management software, Sales Enablement software and Marketing Automation software for the complete enablement of your sales and marketing teams.

PRM Software Essentials: Partner Portal & its must-haves

Selling through channel partners is a great idea! And you know it too...which is exactly why you chose this model to expand your business. that you are working with multiple channel partners, you have also discovered that this model brings a load of challenges along with it. A channel sales model is not about recruiting a channel partner and giving them access to a few marketing/sales docs and then leaving them to fend for themselves.

The general perception among top corporate managers is that, once they have invested in a PRM Software with a partner portal and train their channel partners to use it, revenues will just drive themselves. They tend to overlook the fact that a partner portal will work ONLY if their channel partners really use them. 

Download our partner portal whitepaper to understand how you can ensure your channel partners actually use your partner portal.

In this whitepaper, you will learn:

  • Why do you need a partner portal?
  • What do your channel partners really want in a partner portal?
  • The absolute must-haves for your partner portal
  • Making the most of your investment in a partner portal
  • Ensuring better adoption of your partner portal by your channel partners

How Asset Management Software Resolves 2 Major Marketing Challenges

Sales enablement involves helping your salespeople sell more by providing them with the tools and resources they need to reach out to their prospects and close deals effectively. A key element in this scheme of things is--sales and marketing assets. For years, since the inception of the concept of sales enablement, industry experts have been stressing the need for sales and marketing alignment. Seamless integration of sales and marketing functions has been recognized as a must-have for successful sales enablement. This blogpost discusses how Asset Management Software resolves 2 major marketing challenges-

Challenge #1- Brand distortion
Lack of personalized sales materials often leads to salespeople personalizing them --unauthorized-- in a bid to add a personal touch to their interaction with prospects. When salespeople don’t have access to the kind of content they want, they end up creating their own content or editing the one provided to them by the corporate marketing team to suit their requirements. End result: different salespeople, each with ‘self-customized’ with pitches, presentations and sales materials which disrupt the uniform message and tone of the company, leading to incorrect brand portrayal.

Using an asset management software, the corporate marketing department can restrict the salespeople from making edits to the collateral provided to them. They can also limit access to older versions of assets thus ensuring only the most recent, up-to-date assets are accessed and shared by salespeople. This also ensures a single voice for the brand.

Challenge #2- Asset usage and performance visibility-the ultimate black hole
When content is shared via cloud-based drives or emails, corporate marketing team and sales managers have no visibility into usage of assets. They don’t know if the assets created by them were actually used by the sales team and if yes, then what was the response to them. As a result, corporate marketing department churns out asset after asset based on their understanding of what the sales team needs, while they may just be piling up somewhere, untouched by sales.

Unlike shared drives and emails, asset management software has the capability to constantly track asset usage and procure direct and indirect feedback on asset usefulness from salespeople and the end audience. By offering tools to procure feedback from salespeople on the assets provided to them, asset management software can improve the quality and relevance of assets provided by marketing to sales.

A solid asset management software is the backbone of sales, channel and marketing enablement because at the end of the day it is what keeps your brand safe. An asset management software works hard to ensure your branding and messaging stays intact, no matter how widespread your sales networks are. It plays a key role in aligning your marketing and sales departments and helps them understand each other’s expectations and meet them correctly.