Keeping all Parts of a Channel In Sync with a PRM Software
The job of a channel operations manager is to keep every member of the
One of the core areas of Partner Relationship Management (PRM) is measuring channel partner performance. This is important because you can't identify the gaps in your partner's performance and fix those if you don't have the means to measure their performance objectively. When it comes to channel partner performance measurement, often vendors emphasize on sales revenue. How many leads did the partner close? How much revenue did they drive? While the answer to these questions will definitely help you understand your best and worst-performing partners, they won't tell you the reason behind the performance. In this blog we discuss 2 other parameters that you should be tracking to measure your channel partners' performance, as they will not only help you gauge your partners' performance but also point out to the exact areas that need fixes, thus improving your overall relationship with your channel partners.
How are your partners responding to your partner training programs? Are they taking the tests and getting certifications on time? For your partners to be able to sell your products/services effectively, they need to know them well. If your partners aren't keeping up with the training sessions and certification requirements, what follows will be a dismal sales performance. Plus, if the numbers tell you a lot of your partners are not responsive to your training programs, then it may mean that you need to make some alterations to them to appeal to your partner base.
Another thing to consider is, how often your partners are using the sales and marketing collateral you provide them? How often are they engaging in partner marketing campaigns? How are they utilizing the MDF provided to them. The answer to these questions will help you understand how engaged your partners are with your brand. Also, as in the case of training and certification programs, analyzing your partner's interaction with the partner marketing assets and campaigns you have provided them with helps you understand how popular your assets are with your partners. Again, if you find a majority of them not using the assets or creating their own marketing campaigns, you know it's time to have a chat with your partners and take a second look at what you are offering them.
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Mindmatrix has strong analytics and reporting functionality that cuts across various modules. You can get detailed reports and insight into various parameters such as
Mindmatrix is a leading provider of PRM software, channel partner marketing software and sales ecosystems enablement solutions including partner portal software. Since its inception in 1998, Mindmatrix has been focused on helping companies sell more, faster. A pioneer of sales (direct & indirect) and marketing enablement technology, today Mindmatrix is the only company offering a fully unified platform (Bridge ™) that connects and enables sales (direct & indirect), marketing, alliances and partner ecosystems. Backed by Mindmatrix's innovation and expertise, Bridge expands sales ecosystem enablement beyond its traditional boundaries to cover not just Sales Ecosystem Enablement, but also Partner Marketing and Multi-vendor Solutions Management