Today, businesses have many ways to market and advertise their products. Channel sales, also called indirect sales, is a strategy often used by companies that do well. These sales are based on connecting with other people to make more money.
These connections can be used in different ways depending on the needs and characteristics of your business. Some examples are affiliate partners, referral partners, distributors, consultants, and resellers. A good relationship between a company and its channel members can bring many benefits. However, for this to happen, two very important things must be taken into account:
- Carefully pick your partners. It’s important to work with companies that have the same values and business goals as you do. When partners and the sales team have disagreements or can’t talk to each other, it cannot be good for the partnership.
- Give your partners everything they need to improve how they sell or market their products. Once you’ve found the right partner, you need to do better than your competitors and stand out as a provider that helps its partners boost their sales.
The first part is easy to understand, but this article is mostly about the second. Companies must give their partners the conditions they need to work together in a way that works and lasts. To do this, you need to have solutions that help you manage and keep these relationships in a good way.
PRMs, or Partner Relationship Managers, are in charge of this. Salesforce knows this is true, which is why it made Salesforce PRM. Companies with similar goals can work together with this set of strategies and software tools. Come to our assembly to find out how Salesforce PRM can help you improve your relationships with your partners:
1) Make the partner lifecycle’s entire workflow automatic.
PRM makes it possible to manage partner relationships, which includes everything from recruiting and onboarding to analyzing performance with the help of knowledge. This means you don’t have to waste time or make many mistakes when you work by hand.
2) It puts all the necessary information in one place on a platform so that the channels’ processes can run smoothly.
Your partners can purchase products, send quotes, close deals, and do everything from one place. Your partners can see your company’s sales data depending on how much access and visibility you give them.
3) Use data analysis to help with sales.
If you use this platform, you can use Einstein Analytics and share appealing dashboards and reports with your partners. They will be able to see more about sales flows, pipelines, etc., with these. So, they will have all the information they need to find the best deals, make better choices, and close more deals. You can also protect information with Einstein Analytics so that only the right people can see it.
4) It Makes it easier for the company’s partners to work together.
With Salesforce PRM, you can create, customize, and set up smart communities and partner portals with just a few clicks. Partners can talk to experts from anywhere on any device through live chats, knowledge articles, and frequently asked questions. So they can get all the help they have to make decisions at important times, like when they are getting quotes or closing deals.
5) Eliminate channel conflicts.
It lets businesses keep track of all of their partners in detail and find the best way to pair them with potential clients based on how each one works. This keeps partners from competing in the same area or market by charging different prices.
6) Give your partners the resources they need to learn.
PRM comprises tools that educate your partners on the association’s objectives, sales methods, and products, among other things. It also gives them the exact information they need to train and get certified as experts. If your business partners know and understand it well, they will know how to move it forward competitively.
7) Can work with both Salesforce products and products from other companies.
Built on the Salesforce Platform, it works well with Sales Cloud, Marketing Cloud, and Service Cloud. It can also help you make more money when used with Salesforce CRM Data analysis (which used to be called Tableau CRM) and Revenue Cloud. If you have them, you can also connect outside apps like CMS to your Salesforce PRM.
8) Helps to increase the channel’s return on investment (ROI).
With PRM, you can develop marketing synergy between your corporation and your partners by giving them access to campaign literature already made by your company’s marketing teams. Also, tools make it easy for them to start making their own co-branded campaigns quickly.
9) It makes it easier to bring on new partners.
Salesforce PRM makes it easy to find and bring on new partners. Channel managers can quickly set up refer assignments and deal registration with the help of step-by-step guidelines and an interactive wizard. Also, it makes it easier to take care of the Advertising Development Funds.
10) It makes the company’s and its partners’ chances of success the same.
Once the above traits are known, it is clear that this is true. With PRM, collaborators can use tools based on the features of the best CRM platform at a very reasonable price. They will also be able to enhance how their equipment works and get the best results.