I recorded a podcast recently with Mike Maturo, pre-sales engineer at Relayware, which since 2007 has emerged as one of the industry’s premier Partner Relationship Management (PRM) platform provider. Mike has worked in the enterprise collaboration technology space for 10 years, helping businesses collaborate better both internally and externally. I wanted to get Mike’s take on how PRM provides insight into the working relationship between vendors and their partners.
PRM Helps Both Vendors and Partners
Good PRM platforms give partners easy access to business planning and account planning tools, tracks their training and certifications more easily, and makes it easier for them to gain a better understanding of your products and services. At the same time, PRM automation helps you build richer relationships with your partners—without the kind of manual intervention that just can’t be achieved with hundreds or thousands of partners. The net result of these back-and-forth benefits is greater revenue and profitability for a vendor and partner alike.
What Makes Up a Good PRM?
Mike pointed out a number of things vendors should keep in mind when shopping around for a good PRM platform. Those include:
- A Well-Integrated Solution: Look for a PRM platform with a strong API, which enables it to connect with a CRM and other key business applications.
- Single Sign-On: This feature enables your partners to move seamlessly between systems, encouraging them to stay engaged, leverage more PRM tools, and ultimately run their businesses more efficiently.
- Analytics: Just as with a CRM, your PRM should provide you with strong business intelligence, dashboarding, and reports to give you insight into relationships—and vice versa. (For more on why this kind of insight is so important to partners, see Partner Path’s 10 Trends for a 2020 Vision.)
PRM Doesn’t Exist in a Vacuum
Mike does a great job of describing how PRM platforms can help your channel business in lots of ways—as long as you’re ready to share with your partners the wisdom you gain from using it. By using a PRM to drive interactions, vendors can maximize their relationships with top partners—and help partners make sure they’re working with the right vendors. And at the same time discover which partners can become your stars of the future. These are the lower-tier partners that have strong metrics that make it worthwhile to invest in building strong relationships to support their future growth.
You can listen to my complete interview with Mike Maturo at www.channelmanagement.com/channel-wisdom/ccipodcast/
ABOUT THE AUTHOR
Steven Kellam, President at CCI
As a growth specialist, Steven is responsible for driving CCI’s evolution to expand its offerings and grow across its product suite, utilizing marketing to position the organization for continued, long-term success. He is also responsible for developing the strategic alliances necessary for CCI to achieve its revenue and profit goals, including technical alliances, service partnerships and sales relationships. Steven has experience in both the VAR space, having run a successful managed services IT business, and a background in manufacturing where he built a channel of over 2,000 partners.