Digital CMO Digest: Partner Relationship Management
As the hi-tech landscape gets more crowded and competitive, collaborating with various partners having niche capabilities helps businesses realize shared gain and tap into each other’s strengths. For many enterprises, it has become necessary to leverage the extended partner network. And as the PRM space evolves, even mature organizations find themselves juggling the multidimensional intricacies of each business relationship. Regalix’s latest research report “State of Partner Relationship Management 2018” shows that 74% of marketers interviewed invest their time in creating partner enablement material, while 60% spend time in onboarding partners.
Conventional PRM methodologies are changing, egged on by advancements in channel management technology, bringing in unprecedented levels of customer centricity. Early PRM was all about opportunity management, lead distribution and deal registration, while the partner portal quickly evolved to meet the needs of knowledge transfer and content management. But today it also includes support for MDF, training and certification, incentive programme management, onboarding, communications, channel-specific business intelligence and analytics. According to a recent Forrester research, the future lies in advanced PRM systems that will smoothen business processes and knowledge transformation and drive joint opportunities. PRM is emerging as an amalgamation of solution-driven technology and channel-led consulting experiences. Adopting technology is now a key factor that can either make or break your PRM initiative.
In this issue, we present our conversations with heads of partner channels of leading brands across the world, as they talk about their PRM strategy for effective relationships and their reliance on this rapidly evolving growth channel.
Hope you enjoy the insights shared by our guests; and, as always, do not forget to share the stories with your network!