Wondering if a PRM is right for you and whether it aligns with your current needs?
Take a look at the checklist below to gauge your readiness and discover if a PRM is the missing piece to optimize and scale your partnership success.
Here are some general indicators that suggest you might be ready for PRM (Partner Relationship Management) portal software:
- Growing Partner Network: If your partner network is expanding, managing partner interactions, resources, and collaboration becomes more complex. PRM software can help streamline these processes.
- Need for Streamlined Partner Onboarding: If you're struggling with partner onboarding, a PRM portal can automate and streamline the process, ensuring partners have the necessary information, training, and tools to get started quickly.
- Deal Registration and Management: If you want to track and manage partner-generated leads and deal registration in a centralized system, PRM software can provide visibility and improve collaboration between your organization and partners.
- Enhanced Communication and Collaboration: If you find it challenging to communicate and collaborate effectively with your partners, a PRM portal can serve as a centralized platform for sharing information, updates, and fostering better collaboration.
- Increased Partner Engagement Needs: If you're looking to enhance partner engagement and productivity by providing them with self-service access to resources, training materials, deal registration, and marketing collateral, a PRM portal can be beneficial.
- Reporting and Analytics: If you need robust reporting and analytics to track partner performance, measure ROI, and gain insights into your partner program's effectiveness, PRM software can provide valuable data and analytics capabilities.
You’re ready for a PRM if you:
- Have no partner recruitment process (small pain)
- Have no formalized capability of signing new partners (small pain)
- Need to streamline communications with partners. (small pain)
- Need to communicate with various segments of partners
- Need to keep communications with partners private, in a central location
- Ensuring clear and effective communication with partners (e.g. including timely updates on product releases, promotions, and sales opportunities)
- Are currently using spreadsheets (big pain)
- Are storing partner collateral or marketing materials on a shared Google drive (big pain)
- Can’t easily identify channel or partner records within CRM system (big pain)
- Are managing partners manually without any processes (e.g. onboarding & training requirements) (big pain)
- Need visibility into partner-involved opportunities and a way to track partner interactions (big pain)
PRM readiness scoring
How did you score? You're ready if you've got any of the following:
- 2 big pains
- Or 1 big pain and 2 small pains
- Or 3 small pains
You’re probably NOT ready for a PRM if you don’t have:
- Partner-centric content to distribute
- An established channel strategy
- A CRM system that’s capable of identifying partner-contributed revenue
- The resources (time, staff, effort) to manage the PRM
How much time do you need to set up a PRM?
If you have everything ready on your side and can commit to the project full-time: with Magentrix PRM, it takes as little as a few days to a few weeks. With other providers, it could take longer. Furthermore, in the extreme best case scenario, if you happen to already have everything on your side figured out in terms of your requirements and preferences, we can even set it up in a few hours.
Other factors to keep in mind
Remember, assessing your readiness for PRM portal software should also consider factors such as:
- Budget
- Resources
- The level of commitment from your organization to implement and maintain the system
Still not sure if you need a PRM?
Ask us! We’d be happy to answer any questions to help you figure out. No sales pitch. Just a helpful conversation to determine where you currently are with your needs and whether a PRM makes sense for you.