The answer to this question is “It depends.” If you are in the very early stages of implementing your channel partner strategy and you do not have any channel partners on board yet, or just a handful, then you should consider implementing a PRM system sooner than later. With nothing already rolled out to you channel partner network, you do not have to be concerned about re-training anyone. In this early stage, you want to make sure that you take the time to fully understand all the features and benefits that a robust partner relationship management system has to offer. By investing this time on the front end, you will be well prepared to onboard channel partners and rollout a PRM solution at the beginning of the relationship with your channel partners. By having such a solution in place early in the relationship, you will significantly increase you levels of engagement and collaboration with your channel partners. Many of the leading PRM system providers offer a free trial period.
But what if you already have channel partners and you have cobbled together some systems and processes for managing the relationships? Furthermore, you have come to the realization that what you are using to manage your channel partners is not effective when it comes to building collaboration and engagement with your partners. All the research you have done has led you to seriously consider implementing a robust, cloud-based partner relationship management system. Before rolling out such a solution, best practices suggest that you take the time to survey your internal team and your existing channel partners to determine what is working and what is not working.
LogicBay CEO John Panaccione shares his experience with Channel Partner Surveys:
The right survey process should help you to quickly and efficiently uncover performance improvement opportunities as it relates to the following areas:
- Marketing & communication goals, gaps and roadblocks
- Training & certification goals, gaps and roadblocks
- Collaboration goals, gaps and roadblocks
- Performance management goals, gaps and roadblocks
- General effectiveness of existing tools, training and support already in place
It is important to survey all parties involved in the relationship – key managers from your company, executive leadership of channel partners and the sales managers of your channel partners. The right PRM solutions partner can help you interpret the data and generate a report detailing:
- Overall channel partner engagement rating
- An “Ease of Doing Business” Rating
- Channel partner satisfaction with marketing & communications support, training support, performance management and overall collaboration efforts.
- Process inefficiencies
- Areas of excellence
You want your PRM solutions provider to benchmark your current channel partner management practices against best practices. With this analysis in-hand, you will be able to create the right implementation and roll-out plan for a partner relationship management solution that will help you to increase engagement and collaboration with your channel partners.
To learn more about a PRM survey package, click here.
LogicBay’s Partner Relationship Management (PRM) Technology is rich with best practice workflows making it easier for organizations to do business with channel partner re-sellers. The result: More engagement and Mindshare. Greater Efficiency and Cost Savings. Alignment with Channel Partners. And, Performance Improvement for the Entire Sales Enterprise.
|Download this premium white paper to learn Channel Management Best Practices – Make it easy for dealers to do business with you, Heighten dealer engagement, Gain mindshare and maximize financial returns. Learn about LogicBay’s 4Core Best Practice Framework including methods for more effectively training and monitoring dealer employee certifications.|
|Link to LogicBay’s Library of Partner Relationship Management White Papers. These white papers provide best practice ideas on a Channel Readiness and Performance Improvement strategies. Topics include subjects such as: Effectively launching a LMS for the Channel, Applying Lean Principles to Channel Management, Channel Life-cycle Management, Partner Portal Technology Unification, and much more.|
|Link to LogicBay’s Library of Client Case Studies. Learn how LogicBay’s PRM Solutions and Technology have created significant performance gains for clients such as Caterpillar, HP, Daimler Trucks and Outdoor Living Brands.|