Partner Relationship Management or PRM is becoming one of the most popular business strategies being used by many enterprises today. It is effective in maximizing a business’ potential to generate substantial revenue from sales either directly or indirectly. It is a complex strategy that requires parent companies to pay more attention to the status, performance and needed support of partners through the use of the latest technologies. The key to a successful PRM is cooperation and collaboration.
The best way to achieve effective collaboration with one another is through the use of a channel partner portal. These are online applications that allow them to gain direct access to a variety of significant resources for sales and marketing. The purpose of a channel partner portal is to equip all members of the channel with the tools that can assist in the maintenance of a mutually advantageous relationship for everyone. To have such an application is critical to the effective management and operations of a channel network. It is necessary to have a well-oiled one before exerting efforts to build partner recruitment program and actually sell through the pipelines.
Once a company decides to sell through a partner network with the help of a channel partner portal, certain assessments must be made. It is necessary to determine and decide which partners are the targets. The parent company must then put together its reseller and reseller kits before actually recruiting new affiliates or partners. The following elements are required to build a recruitment program:
Distributors. These are wholesale dealers who sell to other dealers. Most affiliates choose to order through distribution since it requires fewer phone calls to place an order. Distributors usually provide financing and warehousing of inventory as well as the management of returns. It is not likely that a direct relationship can be established with them.
Retail. It is important to further define which retail outlets sells products and determines set targets. Majority of retailers segment themselves according to the type of products they’re selling as well as the price point that appeals to their target market.
Recruiting Retail Partner. National retail partners’ single office can be contacted through direct visitation, email messages, or phone calls. To get in, all that’s required is to contact buyers, present products and pay necessary fees. Mass merchants function with a similar process, but they are sometimes serviced through a merchandising firm. It happens that a merchandiser possesses certain shelf space and is obligated to select the best products in order to generate maximum revenue for themselves.
VARs and System Integrators. Value Added Resellers and System Integrators are usually highly specialized and fragmented. This makes it necessary to market to them in order to pull them out of the woodwork. They are more challenging to collaborate with because they can only be found and interacted with one at a time.
Channel portals help simplify the already complex process of partner relationship management and partner recruitment. It should be present at the beginning stages and all throughout the operations of the strategy.
An IT graduate and loves food. Browsing the internet is one of her hobbies. Loves to play poker and her favorite pets are dogs.
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