At the core of channel sales enablement is the assurance that channel partners can function autonomously while vendors maintain and manage consistent branding, messaging, and more. However, when multiple stakeholders are involved and partners need varying vendor assets, it’s hard to keep tabs on all of the moving parts.
According to the CSO Insights 2016 Channel Sales Optimization Study, 46.9 percent of companies surveyed were not using partner relationship management (PRM) technology, and few companies reported having a clear picture of their channel partners’ opportunity flow. On the other hand, the CSO Insights study suggests that “PRM implementation can enhance a company’s ability to assess what partners are doing.”
To ensure consistency, efficiency, effectiveness, and agility throughout the pipeline, up your channel sales enablement game with a PRM solution. Here are five things that PRM technology can do to help you better enable your partners to sell successfully.
1. Organize your assets.
A PRM solution offers vendors an impressive platform for storing and sharing valuable content that is aligned with inbound marketing and each buyer’s current stage within the marketing funnel. A PRM platform also offers the ability to customize file permissions, so if a file is intended only for your partners’ eyes and not for their prospects, you can set the permissions so that it’s not shareable.
Having your assets organized will enable your partners to pull the right piece of content—whether an e-book, white paper, case study, video, or fact sheet—for the right stage of their prospects’ buying journeys 24/7/365, without having to reach out to you. According to CSO Insights, the better the customer journey alignment, the better the conversion rates: win rates increase by 15 percent and quota attainment rises by 13.6 percent.
Additionally, the best PRM solutions have powerful recommendation engines, which can provide your partners with complementary assets for prospects. By providing your channel partners with such a high level of autonomy, your team is free to focus on vital business needs while your channel partners concentrate on taking your product or service to market with confidence.
2. Encourage self-guided training.
One of the best features of a PRM solution is that it provides channel partners with self-guided onboarding and training so they can get up to speed at their own pace. This means your channel partners can work through training with the knowledge that certain components of the PRM platform can only be “unlocked” and accessed after prerequisite training modules have been completed. By tiering your training in this way, you can gamify the process to push channel partners to train quickly and efficiently. Also, with self-guided training, you can scale your channel sales business seamlessly and drive to-partner marketing campaigns based on whether your partners are actually using the training.
3. Increase sales productivity.
With a PRM platform, content is organized and searchable, which allows your channel partners to quickly and easily find and share content with prospects. Instead of your partners emailing you every time they need a specific asset, they can find what they need quickly within the PRM platform through its powerful search and filtering features. Better yet, the best PRM solution enables partners with the deal-specific sales enablement assets they need right when they need them most: during the registration process. This shortens the sales cycle, increases the speed of prospect communications, and boosts customer happiness—all of which helps increase revenue and customer numbers.
Additionally, a robust PRM solution offers unique tools to gamify the entire channel partner experience in order to boost engagement and create an ecosystem of productive, efficient channel partners and sales processes. Whether through a leaderboard for leads generated or certifications completed, your channel partners’ sales and marketing teams will want to become more productive and efficient.
4. Boost partner knowledge.
A PRM platform is the prime space for sharing internal playbooks featuring sales scenarios, product or service assets, and other content to educate your channel partners. This internal content enables sales teams to understand the product or service inside and out, so they can work with end users at every stage of the sales funnel. Additionally, a PRM solution gives vendors the tools to analyze which partners are engaging with what content and how frequently. With this data, you can understand what’s working and what needs to change to better drive partner engagement to drive more sales. The more you understand how your channel partners are engaging with your content and how it’s impacting their lead generation, the more equipped you are to nurture your channel partners into effective sales partners.
5. Streamline lead generation.
Managing leads is a seamless process with a PRM solution. Providing channel partners with a platform that allows them to register deals, organize leads, integrate with countless sales and marketing apps, and create personalized landing pages for each prospect enables sales teams to effectively convert leads into customers. In addition to facilitating the sharing of content, these prospect pages can also serve as a powerful means for partners to register opportunities and deals. Having all of your partners on one platform gives you a prime view of partner activities, which makes partner management easier and more streamlined. This level of lead management also has the added bonus of ensuring there is no channel conflict with deal registration and lead management.
The benefits of using a PRM solution to enable channel sales are endless. PRM technology streamlines the channel sales experience to enable partners to succeed in their own way on their own time while also giving them the peace of mind that messaging and branding are consistent and on point. If you’re ready to learn more about how a PRM platform can improve your channel sales enablement, download our Guide to Building the Ultimate Channel Sales & Marketing Stack now.
Our Product team is proud to announce some exciting enhancements we’ve made to our popular Multi-Touch Cost Per Lead report — we’ve officially graduated from our Beta release!
First, we’ve expanded our ad networks so you can compare your CPL across Google, Facebook, and Bing.
We also now include more interaction types so you can track leads no matter how they contact your business — whether that’s a first click, phone call, text, or form submission on your website.
And finally, we added custom reporting tools to better visualize your CPL data and personalize it to match your business needs.
These additions make it even easier to leverage our CPL tool to understand the bottom line: What’s working and not working for your marketing, down to the dollar amount.
Let’s explore some of the additional benefits you’ll enjoy when you centralize your CPL tracking!
Eliminate cross-platform lag time (and bias)
Compiling attribution data across platforms can be confusing and time-consuming. That’s especially true when you need an accurate, one-to-one match between ad networks that use different terms or calculations for conversions.
By using each ad network’s API to aggregate and pull data straight from the source, our new reporting tools make it easy to compare analytics for each of your channels, and to create customized reporting that provides a complete picture of your performance.
Meet your customer where they are in the sales funnel
With our reporting enhancements, you can now use single-touch attribution models to zoom in to certain parts of the sales funnel and optimize your marketing accordingly.
Find out which ads or keywords speak to customers at different stages in their buying journey: Do most of your first touches come from Facebook ads? Are more customers calling, or are they submitting a contact form after they see you on a Google paid ad?
Understanding these trends will help you make more purposeful decisions around your overall marketing strategy.
Don’t lose attribution when customers are offline
Track the full customer journey through online and offline interactions for complete lead attribution. Not every interaction occurs on a computer, so having one seamless report will help you properly contextualize analytics like calls, texts, and forms alongside your digital metrics.
Get to the ROI
You can also attach bottom-line numbers to your reporting: Use one of the multi-touch models (50/50 and W-Shaped) to track your ROI across multiple steps in the lead-capture process, giving you a complete picture of what it costs to take a lead from first-click to qualified.
The post Enhancements to CPL reporting add multi-channel attribution data to CallRail appeared first on CallRail.
In many EDs, patients often suffer for hours in a crowded waiting room before they are treated. After some time, many leave before the appropriate treatment, potentially putting their health and safety at risk while costing hospitals revenue. A key component of decreasing ED wait times and those who leave without treatment is physician and nursing workflow. When the process is optimized, a hospital’s ED can accommodate a high volume of patients. Meanwhile, an inefficient clinical documentation system can hinder flow and volume drastically.
The post [VIDEO] 3 Actions You Can Take to Bring Customer Success to Your Veterinary Practice appeared first on PetDesk.
By: Lo Kidd, Marketing Intern
Does your work make meaningful social impact? 81 percent of millennials expect the companies that they invest in to not only make a social impact, but to be transparent about the company’s intentions. However, only 10 percent of companies publish their purpose statements with recorded proof of their progress.
So, how can your impact-driven company live up to the expectations of your target customers? By talking to some experts in the ecosystem, we learned that through setting realistic objectives, tracking your progress, and re-evaluating along the way, you set yourself up for greater success as a social entrepreneur.
What is Social Impact?
According to Duane Rollins, National Director of Product and Impact at SEED SPOT, social impact is “solving meaningful issues without profit being the highest priority.” Companies who focus on their social impact seek to improve the quality of life for members of their community, often by providing the underserved and marginalized with essential resources and opportunities.
For example, Celebrate EDU, a non-profit founded by SEED SPOT alumni Jenny Anderson, reaches individuals with developmental disabilities by empowering them to “explore what makes them unique in an environment that nurtures their entrepreneurial spirit.” On the other hand, Harvest Compassion Center (HCC), founded by SEED SPOT alumni Nicolee Thompson, impacts “anyone living in Arizona” by providing free access to everyday necessities, including food, clothing, school supplies and toiletries. Who and how these companies impact differ, but both positively impact individuals within their communities by providing otherwise inaccessible opportunities and resources.
Why Measure Social Impact?
According to Rollins, measuring social impact is like telling a story: the meaning comes through in the details. The more attention you pay to the framework of the plot and the more aspects of your company’s progress you regularly measure, the greater your end impact will be.
In other words, we measure social impact for a variety of reasons, but primarily to hold ourselves accountable. Measuring social impact visualizes how the impact made compares to your intended impact and offers proof of your work to your stakeholders, potential donors, partners and customers.
Both CelebrateEDU and HCC publicly report their measured impacts on their websites. CelebrateEDU highlights the 604 participants who have participated in their program since inception, with 98 percent of participants having learned “something significant about business.” HCC showcases the 12,281 pounds of food items that provided for 692 families across Arizona during the month of October.
Posting these numbers reassures the community that you are making a positive impact while helping your company be more conscientious of your work. When social impact is measured regularly, your company expands its opportunity to further your social impact by learning where and how you could increase your impact.
How To Measure Social Impact
This is where things become a little tricky: there is no one-size-fits-all approach to measuring social impact. Fortunately, this allows your company to personalize how you measure the social impact your company makes.
Set a Realistic, Quantifiable Goal
Brianna Losoya-Evora, Impact Analyst at Aspen Network of Development Entrepreneurs (ANDE), advises entrepreneurs and startups to define how you intend to make impact from the onset. Recognizing your company’s intentions is where measuring social impact begins.
Every company has different needs and priorities to define what success means. How does your company define success? Set a goal using a target number which reflects this answer. Emily Eastman, Global Partnerships Manager at the Global Accelerator Learning Initiative (GALI) suggests that your goals should focus on financial metrics such as revenue, debt, equity, philanthropic dollars, and jobs created. This number should be realistic, yet challenging. What is the minimum impact your company will use to define success?
At SEED SPOT, our goal is to empower entrepreneurs as they launch startups looking to solve pressing world problems. However, there are several ways we measure our success, many of which we publish publicly on our website to hold ourselves responsible. At SEED SPOT, we measure and publish several social impact goals which tell us and our community that our alumni have generated $54.5 million in revenue and created nearly 1,500 jobs across the nation.
Set a Standardized Unit
The standardized unit is the means by which you will measure. Losoya-Evora stresses the importance of measuring using a standardized unit to create consistency across your data, allowing for more accurate and comprehensible measurements of your social impact. Through standardization, the impact you communicate to your customers “isn’t just a word thrown around” but a representation of your positive change “in a concrete way.”
This unit can measure hard data (the amount of capital raised) or soft data (the percent increase in an entrepreneur’s self-efficacy). Hard skills are quantifiable units of measurements, whereas soft skills are qualitative. When working with qualitative units, the standardized unit might not be inherently measurable. Rollins reflects that the best practice for measuring these soft skills is to directly involve service users in the measuring process.
To measure our own social impact, we consider how both hard and soft skills most consistently and accurately represent our goals and measure a combination of both to form a more complete story. When measuring hard data like number of entrepreneurs supported, we find the cumulative number of individuals who utilized our training, resources, and opportunities. However, when measuring soft data like number of lives positively impacted, we ask the individuals our products and resources have reached to reflect using a systematic set of questions.
Measure and Apply
When gathering your measurements, Eastman suggests identifying who your competitor is and finding a common benchmark between their company and yours. Then, take as large of a data set as possible, run some tables, filter out everyone who doesn’t fit parameters and use the gathered impact metrics to gauge how your venture’s performance compares to your competitor’s. This comparison should consider the efforts both companies make toward each company’s goals to identify how the two companies differentiate.
When applying your measurements, Losoya-Evora suggests considering the following:
- How your work compares to your initial personal goal
- Where you are creating the most impact
- Where you have an opportunity to improve your impact
- What other measurements are needed to construct a more accurate report
- How your impact compares to your competitor’s impact / industry benchmarks
- How to communicate your report with your users
Remember, you are measuring to hold yourself accountable and to better your company, so don’t worry if your goal isn’t met the first time you measure your impact. This allows room for your company to increase your impact, reveals where to alter how your company takes action, and encourages your company to continue measuring. After all, you can only increase your impact after you have measured it!
Learn more about SEED SPOT’s journey by downloading our 6-Year Impact Report!
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