In the world of partnerships, challenges show up frequently for those looking to expand their programs and keep up with the changing ecosystem. Partner relationship management (PRM) systems help you do that in a way that boosts sales while streamlining the processes that make your channels work. The key is understanding which platform meets both the current and future needs of your organization and helps maintain sales growth throughout the process.
What is a PRM?
At its core, partner relationship management is software that facilitates the management of partnerships. It also helps with streamlining marketing and selling products across partnerships. These systems give channel sales managers and marketers the tools they need to connect and automate their current processes. A PRM combines all the essential strategies, methodologies, and steps for your partnership in one location, and helps all interested parties build, oversee and manage the relationship more effectively. PRM systems range from simple options that assist with the management of partnerships to those that automate essential tasks and provide clear data on the overall business relationship.
It is important to understand that a PRM differs from a customer relationship management (CRM) system. While they both help you grow your partnership, they do so in different ways and are not interchangeable.
Differences between CRM and PRM
Both CRM and PRM are relationship management tools, but they work in unique ways. A CRM collects and shares data in the direct-selling environment. It manages the sales sequence from lead generation through the purchase and afterward for increased visibility into the sales process.
A PRM manages the internal processes of partner organizations and their channel relationships. These tools combine the layers of a partnership for process alignment, improved workflow across channels, and clear goal-oriented strategies. PRMs incorporate communication, learning management, performance, and real-time progress into a single tool that facilitates reseller and manufacturer relationships.
Typical features in a PRM
PRM tools vary based on the size and needs of the organization, and the specific options they offer. However, most systems include basic functionality, such as
- Automated partner recruiting and onboarding processes
- Centralized online management portals
- Simplified lead and deal registrations
- Shared sales and educational resources
- Quick commission payments
- Forecasted channel sales and partner effectiveness
- Assigned leads that prevent channel conflicts
Additional options and add-ons help partnerships tailor each tool to their specific needs.
When choosing a partner relationship management tool, companies bombard you with all the features that make them better than other options. However, there are important automation options that drastically alter the usability of a PRM – and how long each step takes for setup.
What PRM companies won’t tell you
There are several aspects of PRM implementation and streamlining that take considerable time and effort. When handling these tasks on your own, the processes often require days of emails, meetings, and approvals that take time away from more important aspects of running your business. The following are just some ways that xAmplify makes the entire partnership management process easier.
Co-branding across partnerships requires all parties to agree on specific details. With built-in logo merging, all it takes is the click of a button to use side-by-side branding that reflects both organizations. You can even create locked templates that prevent changes so your identity remains intact across content.
Integration between Salesforce and other tech stacks takes time, and they aren’t simple processes. xAmplify provides an automated Salesforce integration process that lets you focus more on strengthening and developing your channel relationships.
Onboarding requires an understanding of the individual partners and how they align with the overall goals of the company. With proper alignment and incentivization, onboarding partners becomes quicker and easier. Streamlining this process helps new partners redistribute your message, drive sales, and increase your reach faster. xAmplify’s platform is built for the onboarding process and makes it simple for partners to redistribute marketing campaigns.
xAmplify Goes Beyond the Typical PRM
xAmplify provides PRM solutions that help you grow your partnerships. With a truly automated system that prioritizes channel partners, we help your distribution channels achieve better results and higher sales. We simplify omnichannel, multi-touch campaigns and provide sales enablement for multiple partners, all with a single tool that automates processes for faster results. We help you save your time and resources so you and your partners focus on closing deals and seeing more revenue growth.
If you’re ready to choose a PRM that includes the power of through-channel marketing automation, schedule an xAmplify demo today to learn more.