In the first part of this series, we shared with you a few Magentrix Partner Relationship Management (PRM) Community features that we use on a daily basis. This time, we wanted to dig a little deeper into some of the out-of-the-box features, optimizations, and PRM tools that your team can use to support effective sales processes for your channel partners.
Our first blog in the series framed your channel partners as an extension of your sales team; acting as your company ambassadors. We touched on how certifying your partners by using Magentrix’s Learning Module System (LMS) is one of the first steps to ensuring your sales team is strong internally and externally. But what happens after that? Once qualified, your partners will need collateral, data, and sales support to start making deals and opportunities for your sales channel. A self-service portal makes it easy for your partners to access this information on demand with analytics, content management, and document management features.
Analytics (Reports & Dashboards)
Magentrix offers pre-configured reports on field data so you can fully utilize the information that runs your business for end-to-end channel management. You can also share access with your channel partners so they can benefit from insights into your target market, their own performance and top performers within your company. Reports can be generated with ease for a wide range of uses, from tracking your partner’s lead registration to differentiating partner program level (eg. gold vs. platinum) and analyzing your sales sector. You can also customize your reports with our powerful builder that lets you display entity fields, group fields and configure filters to only allow specific values to be shown in the report according to a user’s access level. Magentrix Reports are easily exported to CSV or Excel file formats for additional analysis to support sales enablement.
According to Shiftelearning, most people are visual learners and 3M states using visual aids increases data comprehension by up to 400% compared to text alone. One of our favorite features of our solutions is the ability to create dashboards that dynamically display information on easy-to-digest charts, graphs and diagrams. These visual aids will help you and your partners to quickly make sense of your data and properly plan a sales pipeline around performance and goals.
Content Management System (CMS)
Generating original content is a vital aspect of any conversion strategy. Your partners may be generating leads but if conversion isn’t properly supported that number becomes a vanity metric. According to Curata, 74% of companies indicate that content marketing is increasing their marketing teams’ lead quality and quantity. Magentrix’s Articles module helps partners to nurture leads easier with content for each stage in the sales cycle. Using this module, you can share on-demand content such as company announcements, case studies etc. with security and visibility control to provide targeted, specific content. Content can also be released publicly to boost your inbound marketing and SEO. Another way to use our CMS is to create searchable knowledge bases to promote partner self-service and case deflection - a huge value to your extended team.
If you want to ensure your content is on message, you can require content contributors to submit drafts to publishers for post approval before publishing. Multiple team members can collaborate on posts and present them through multiple levels of approval to ensure accuracy and effectiveness. Once a post is published, readers can subscribe to the article type so that they receive email notifications when an important or interesting post is published. In addition to content publishing, the Articles module also features content analytics to better understand your target audience, activity, and post popularity.
With your partners certified, they will want easy access to collateral, information, sales data, and other documents without constantly contacting your sales channel manager. In fact, up to 21% of productivity is lost due to document challenges. Simplify this process for both you and your partners by sharing files and documents using Magentrix’s Document Library. It serves as a document repository where all portal documents can be searched, viewed and downloaded on-demand. Uploading is easy and files can be organized using sharable folder hierarchies to give specific users and groups viewing, editing and upload permissions.
Eliminate issues caused by outdated documentation; use Magentrix version control to replace old documents and track current editions. You will add value to your PRM portal by linking your uploaded documents in your emails instead of directly attaching them. By keeping a consistent approach to document management, your partners will know the PRM community is the location to search and view the latest documentation.
The last tip we've got for you today is one you’ve maybe heard from us before - collaboration. You can refer partners directly to a specific document using our collaboration feeds. This allows you and your partners to have contextual discussions linked right to the file which creates a record that future team members can access and utilize along the sales path.
We could probably publish an encyclopedic series on all the ways Magentrix can support a stronger channel partner program for your company.
Magentrix allows you to:
✔ Control your company’s voice
✔ Control your company’s knowledge/assets
✔ Make educated business decisions based on data
Have we touched on a feature you haven’t gotten a chance to explore yet? Let us know in the comments!
These tips are just scratching the surface of what can be accomplished with our PRM community portal. Keep an eye out for the last piece in this series - coming soon. We'll be highlighting some features you may not have heard of but will definitely want to start using right away! If you have any questions don’t hesitate to call us. We’d love to show you exactly how we’ve built Magentrix Partner Relationship Management to support partner life cycle management and your unique business processes.
Contact Us today for more information.