Using prospect data to create a positive buyer experience
Prospect data throws a big door into the prospect's world, allowing businesses to be a part of their...
When investing in a partner marketing software and programs, one of the key factors that companies need to take into account is partner persona. Each partner has their own strengths and weaknesses, which determines their "Partner Persona". The kind of support that a partner requires from the company to market and sell their products successfully, varies based on the partner persona, which, in turn, impacts the choice of partner marketing software.
Companies deal with multiple partner personas and each of these partner personas have different requirements in terms of partner marketing and sales support. Companies need to understand these varied requirements and support partners accordingly. When dealing with partners of different types, the partner ecosystem can become quite complex with each partner type requiring to be enabled differently to be able to sell. Companies that understand the needs of each partner type and offer them the right tools and support are able to build and grow successful partner relationships. The partner personas can be classified into 4 categories.
The largely varying partner personas mean companies have to invest in partner marketing software that cater to the needs of every partner persona. One area where many companies go wrong is ignoring the partner personas when investing in a partner marketing software. Vendors often assume that a standard partner marketing software will work with all partners regardless of their persona. For partner marketing software to be successful, they need to be tailored to suit the different kinds of partner personas that the vendor's partner ecosystem has. By doing that, companies can expect-
When the company's channel partner marketing software suits the partners, provides them with that they need, they are more likely to engage with the company's brand
A more effective partner marketing software translates into better marketing and sales numbers for the company.
The company's knowledge of partner persona plays a key role in the success of the channel relationships. Having access to accurate partner data can help companies build channel-friendly partner programs. Insight into partner behavior, intent, strengths and weaknesses allows vendors to tweak their partner program to make it easier to market and sell the company's products. It also helps vendors to identify patterns, if any, in their partner pool. For example, if all partners of a particular category or market type are consistently unable to perform, it probably means there's a problem with the partner recruitment criteria that needs to be evaluated.
Partner data helps in multiple ways when it comes to improving partner recruitment efforts. For example, Having potential partner data insights can help companies target their partner recruitment efforts towards the right partner
Data related to top-performing existing partners can help companies identify the ideal partner profile-one that works best for them.
Tracking potential partner data can also help vendors understand potential partner behavior and adjust their partner recruitment strategy accordingly
When companies have access to partner data, they can use the information to drive partner engagement. Vendors can optimize their to-partner marketing efforts, partner programs, and partner training and certification modules to elicit maximum partner engagement with their brand.
Access to partner data can help in better business planning. Understanding how the existing partner network is performing can help companies plan their channel growth better. It also helps companies and partners collaborate effectively in joint business planning activities.
Companies with in-depth insight of partner data will be able to better understand and prioritize internal resources and tools. One of the key challenges in the channel-based sales model is, partners often feel they lack the support they need from companies on the sales and marketing front on a consistent basis, beyond the initial, onboarding phase. With partner data, vendors will be able to identify the critical areas where partners need their support and also understand the strengths and weaknesses of each partner and the partner pool in general. This helps them focus their resources, tools, and technology on areas where they are needed the most.
The idea behind investing in partner marketing software is to help your partners sell more and generate more business for you. To be able to do that, you need to understand your partner personas well and provide them with the kind of marketing and sales support they need. It's time to ditch the one-size-fits-all approach to partner marketing software and adopt a partner-data driven, persona-centric approach.
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