Connecting Your Sales Enablement Software with Other Systems: The Bigger Picture: Part - 1

In today’s competitive market, companies are looking for ways to increase and improve the quality of leads they obtain. In the past, the importance of aligning your sales and marketing teams was not as pronounced as it is now.

Due to high competition and higher customer awareness, it has become difficult to generate leads from a single source. A CRM system is a great way to tap into lead data from the very beginning of the sales cycle.

However, just the lead data isn't enough to move them down the sales funnel. You need to gain real time insight into prospect behavior so you can differentiate between the ready-to-buy prospects and the still-researching prospects. Connecting systems can result in higher productivity.

Wikipedia’s definition of system integration is “the process of linking together different computing systems and software applications physically or functionally, to act as a coordinated whole” clearly states that the key to a successful integration is “awesome synchronization”.

Connecting with other systems is, however, not as simple as it may seem. It involves a thorough study of what kind of sales enablement software you will need to improve the efficiency of your CRM. How do these systems complement each other, will this slow down your current process? Will this result in shorter workflows and more importantly; will all these efforts yield higher sales for your organization?

For ages, sales teams have relied solely on CRM systems for maintaining their prospect data. When a new prospect is identified by marketing and passed on to sales, a sales rep diligently feeds that data into the system. Most of this data lies there, gathering dust, because only 1 out of every 10 SQLs ever converts to customers.

CRM Integration

Losing 9 out of 10 leads is definitely not a pleasing statistic. If you want to see a change in this statistic, you need to consider integrating your CRM with a sales enablement software that is able to fix the leaking spots of your sales funnel.

One of the reasons why companies lose out on leads is because sales teams are hardly involved in the purchase cycle of the customer. It is only towards the very end that a sales rep comes into the picture. Marketing hands over the leads to sales with relevant information and collateral and expects them to close the deal. The sales rep, having no prior knowledge of the prospect, dives headlong into a seemingly unfamiliar territory and fails to live up to what Marketing promised to the leads. This results in poor close rates as sales and marketing aren’t on the same page.

Marketing and sales often run parallel campaigns. While one is busy promoting Quality A to the prospect, the other may promote Quality B. This ends up confusing the prospect, further contributing to poor close rates.Integrating your CRM and sales enablement closes this gap and promotes transparency between sales and marketing. Unlike a CRM, the core function of Sales Enablement Software is to measure and automate the complete sales processes.

How this integration helps you:

  1. Contact sharing: Integrating your CRM with Sales enablement software can automatically update your lead information. You can import all your contacts from your existing CRM to the Sales Enablement system and vice versa.
  2. Lead analytics: When you engage a lead in one of your campaigns, sales enablement software tracks how and when leads interacts with it. Based on this interaction, the lead is automatically scored in your CRM.
  3. Marketing-sales alignment: You get a one-stop place where your marketing team can communicate with sales personnel. Your marketing and sales team can work in tandem to improvise on strategic planning through marketing tools like email, web, playbook, eBook, print materials, and social publishing.
Integrating your sales enablement software with a CRM system will let you delegate the right job to the right system- which means you get the best of both worlds integrated to work as one whole unit, resulting in higher productivity with hardly any increased costs.

Does your PRM Software let you market on behalf of your channel partners?

PRM software should empower vendors to engage in powerful social media and email marketing campaigns on behalf of channel partners

The key to strengthening channel partner relationships is making it easy for them to sell. And, one of the ways to do it is by running marketing and sales campaigns for them. Sounds like a lot of work? It doesn't have to be! When picking a PRM Software, just make sure it allows your corporate marketing teams to engage in marketing and sales campaigns for your channel partners. The on-behalf marketing feature of your PRM software will allow your corporate marketing teams to send emails and update social media pages on behalf of your channel partners, thus allowing you to help your channel partners build their local brand and successfully market and sell your products at the local level.

Your PRM Software may offer this feature is in addition to Content syndication, which will work automatically to customize sales and marketing assets to third party sites, such as social media platforms and partner portals for use at the local level. Content syndication makes channel partner marketing easy by offering corporate marketing teams an interface to create everything channel partners need from their corporate offices. This includes customized email campaigns, social media campaigns, landing pages, advertising campaigns and sales materials. All of these assets can be customized for each of your channel partners, helping them engage in local marketing effectively. Meanwhile, your corporate marketing teams still retain control over the brand and messaging.

We all know that effective marketing and brand building demands consistency, but often the channel partners are too busy selling to be consistent in social media or email marketing. Make sure your PRM software offers you ways to ensure your channel partners are consistently pushing your products and services on social media and via emails without taking their focus away from their main task at hand—selling. So, while your channel partners are off selling, your PRM software works with you behind the scenes to help build your brand and relationship with clients to help them close more leads for you, faster.

Leading PRM Software Provider, Mindmatrix, is welcoming 2018 on a high note

The sales and channel enablement platform leader is expanding rapidly, targeting new customer segments, adding to its staff and increasing its office space

Mindmatrix Inc., the Pittsburgh-based, leading  PRM Software provider declared significant growth in 2017. The  sales enablement software company also announced that it has brought in 9 new employees on board in development, sales and account management. Mid-2018 Mindmatrix will be adding 11,000 sf to its already existing office in River Park Commons, Pittsburgh.

Mindmatrix also added a host of new features to enhance its PRM and sales enablement software last year. Some features already seeing widespread adoption include more detailed opportunity registration, Hotspots and interactive banners, advanced asset search and sharing, enhanced dashboard and reporting, etc,.  Moving forward, 2018 will see a continued commitment to staying ahead of the industry and a proactive role shaping the industry standards and expectations..

Harbinder Khera, CEO, Mindmatrix says, "We had a great 2017 and are looking forward to an even better 2018. We enhanced our PRM software and sales enablement platform by adding over 20 new features. The highlight of 2017 was definitely the launch of our concierge services where we offer sales and marketing support including, sending emails, editing landing pages,  importing and organizing leads, sales assets, etc,. In 2018, we are expanding to new market segments. We are targeting small and medium sized businesses (SMBs) as we see a lot of scope in that market."

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.