Manage Partners Remotely Using Partner Relationship Management Software

Published: Nov. 16, 2020, 6:23 a.m.

Over the past 40 years the world has been speeding up the pace of digital adoption. While it may seem like Amazon was founded yesterday, it was actually founded in 1994\u2014about 25 years ago. Microsoft was founded a couple of decades earlier than Amazon, in 1975, and Oracle was founded in 1977. About a decade earlier than Microsoft, Intel was founded in 1968. I think you get the point: The advent of digital goes back about 30 to 40 years\u2014roughly half the span of an average human life\u2014but the pace of change keeps getting faster, most recently with the explosion of cloud-based applications and solutions (hardware and software working together). This is also true of technology that addresses partner relationship management (PRM).\xa0\n\n\n\nAs we adopt more and more digital tools in our lives\u2014at work, home and school, and while travelling away from home\u2014silently but surely we are rebuilding how we work, live, learn and enjoy our leisure. Partner relationship management (PRM) software is no different. Partner management has existed since commerce existed in pre-historic times, but over the past few decades, with the adoption of digital tools and digitization of commerce, more and more companies have focused on automating their channel management and partner relationship management activities. In this article we will explore how we can manage the partner base remotely and globally using state-of-the art partner relationship management tools.\n\n\n\nHere are the core activities we need to engage in to build and manage a channel remotely:\n\n\n\nPartner Profiling\xa0\u2013 Once an organization figures out who to recruit, the goal is to target, engage and educate prospective partners for recruitment. Gone are the days of hanging around in trade shows and randomly throwing out business cards hoping partners will sign up, or aimlessly running banner ads on channel magazines. Today, the tools are much more precise and they are all digital, even though physical trade shows, recruitment roadshows and similar events can certainly augment the digital presence on the ground.To run an effective partner recruitment program, an organization needs to have profiles of the kinds of partners that they want to recruit. Target profiles can be created by researching existing partners\u2019 firmographic profiles and/or establishing capabilities the organization needs a potential partner organization to have\u2014characteristics like certifications, regional coverage, go-to-market sales models and so on. Once this target profile has been created\u2014a process we call partner profiling\u2014then the recruitment journey can begin.\n\n\n\nPartner Recruitment\xa0\u2013 With the specific target in mind, an organization now will have to target prospective partner audiences via various digital tools, such as social marketing tools (LinkedIn, Facebook, SlideShare, Twitter, etc.), online advertising of various kinds and outbound newsletter placement tied to subscription lists. Outbound emailing is becoming more difficult because of emerging privacy regulations like GDPR and CCPA, but opt-in lists for digital publications are still good vehicles for extending reach to a potential target audience. Once a prospective partner has expressed interest into a company\u2019s partner program, then engaging with those partners with compelling digital content via a partner relationship management platform is critical. This is where a partner portal comes in really handy. Any state-of-the-art PRM platform will provide a full-featured partner portal where users can create a zone for prospective partners to learn and educate themselves on the company\u2019s offerings wherever they are working from.If a prospective partner is interested, they may apply and go through a simple or a comprehensive review process to be registered as an authorized partner to sell the organization\u2019s products. In case of captive distribution, this could be a franchise model where a partner has to pay to play, but in other cases\u2014e.g., agents,