Partner relationship management, or PRM, is tough at the best of times. But today, with so much change in the world, not only is it harder than ever, it’s more important than ever for business.
Luckily, we’ve got more than 25 years’ experience in partner relationship management, so we’ve pooled together our learnings into a list of top tips to help you get the most of your sales channel partners.
1. Select the right partners – it’s quality over quantity
If you’re about to embark on a collaborative business relationship, you need to make sure you’ve chosen the right partners who share your objectives and goals. It might also be important to you that their values align with those of your business.
Putting your trust into another business to handle your customers is a big deal, so do your homework. Take time to ensure you’ve chosen the right partner or partners for your business – this approach will be much more fruitful to your business in the long term.
2. Create clear objectives and goals
Be clear on your objectives and what you want from your partners.
You will not get the results you need if you are not clear and transparent on your goals and objectives. You should also set key performance indicators (KPIs) from the start, so you can track performance and metrics in the areas most important to your business. These can change (agility is necessary in business) but they will ensure you and your partner are working towards the same goals from day one.
Trust is the key part of this new relationship, and both you and your partner must be honest and in agreement on what you want to achieve.
3. Define your benefits to partners
“What’s in it for me?” From your research you should know what motivating factors are key for your partners – this might be revenue, lead generation, marketing support, training or even certification. It’s also important to know what benefits you can offer than your competitors can’t.
By understanding what motivates your partners, you can then position your programme correctly. You need to show that you standout from your competitors and add real value to the partner base.
4. Build your PRM infrastructure
Creating and building the right platform is key to successful partner relationship management.
Chances are you are competing in a crowded marketplace. You need a PRM infrastructure and platform that makes it easy for both you and your partners to get whatever they might need, be it distilled product information, the latest deals, marketing assets or even personalised toolkits.
The more tailored your PRM system, the better. At Blueprint we work with our clients to understand the unique environments of both the manufacturer and its partners, and create tailored solutions that make programmes easy, effective and market-leading
5. Get the onboarding right
You’ve done your research, defined your programme, built the infrastructure and invested time and money. Now it’s time to launch – and it’s vital you do this correctly.
Start building that partner relationship and invest time and resources to understand their business. The more people you get on board the better, so make sure you’re launching the programme to many (not just the business owner) and involve all aspects of their business – management, sales, marketing and support teams. Excite them, inform them and engage them.
6. Enablement
None of the above will help with your partner relationship management if you don’t support those partners with the necessary training, assets and resources they need to successfully sell your product.
This is where the word ‘relationship’ comes in. The partner relationship is ongoing and built on communication. Providing a whole host of assets and then dumping them on a platform can be a huge waste of time and money. Listen to your partners and work with them on what they need.
Motivation for partners is key, so part of this partner relationship will be understanding what motivates both the individuals and the wider business. From incentive and reward programmes to partner recognition initiatives, partner enablement is an ongoing process. You need to motivate your partners and make it easy for them to work with you.
7. Communication
Get the balance right – don’t bombard your partners with too many emails, but don’t send them too few that they forget who you are. Don’t switch them off with exhaustive information, but don’t provide them with ambiguous or fluffy content so they don’t understand what’s required.
Getting the balance right is where working with an agency can really help. At Blueprint, we speak with partners to understand their needs and listen to their requirements. This type of feedback is crucial for success. A one-size-fits-all approach does not work – know your partners, segment your audiences and personalise your communications.
8. Support and account management
All too often, manufacturers launch a partner programme with a flourish and fanfare, and promises that fade over time. Not only does this lead to disengagement on a practical level, but on an emotional level your partners will most likely feel let down, which will impact how they talk about and sell your business, service or solution.
So keep the energy and momentum going. Make sure you segment your partners – focus your time on the partners you know will maximise the return, and it’s these partners who will benefit from a more personalised type of support. For the wider base (because there will always be those partners who you need to maintain a relationship with, but are unlikely to be a game-changing source of revenue), look to automate procedures and use technology to provide the account management and support they need.
9. Monitor and measure the programme
Data is everything. You are investing time and resource in to this programme, so make sure it delivers. Monitor and measure every aspect.
You will have agreed a reporting framework with your partners, but that doesn’t mean you should only measure agreed KPIs when you’re preparing a report. Those KPIs should be checked daily, or weekly at a stretch. This way, if you spot a trend you want to change, you have the time to have a conversation with your partner and change its trajectory.
And don’t forget the context. Too many times we’ve seen reports show a number and little else – there is context to be applied to every number, and with that context comes an action to improve performance.
Speak to your partners, constantly review the sales data, measure the enablement tools. Learn and adapt.
10. Evolve the programme
The best partner programmes are the ones that never rest on their laurels. Like with anything, people want change – a bit of a refresh. So pilot new tools, incorporate feedback and learning and adopt new technologies.
Always be working on what is next. At one time or another, a partner will ask you what’s coming up – you need to have an answer. Be bold, be brave
Whether you are looking to create and build your first partner programme or re-energise your existing one, Blueprint is here to help.
