Partner Marketing, The Holy Grail Of PRM
Brands need their B2B partners to strengthen on-ground marketing activities. This is one of the critical objectives for organizations to develop and invest in a strong partner network that is active, engaged, and result oriented. Brands can multiply their marketing efforts by providing a marketing setup that partners can access, operate, and benefit from.
PRM solutions help incorporate these marketing setups integrated into overall PRM initiatives and offer partners a holistic marketing and go-to-market framework. PRM simplifies marketing initiatives from the brand perspective. There are several requirements to partner marketing, and they are
- Access to brand assets
- Localizing and personalizing assets
- Access to communication tools
- Access to campaign tools
- Planning and scheduling activities
- Tracking and monitoring activities
- Tracking and monitoring budget and cost
- Measuring KPIs
Partners need access to the latest brand assets without going through multiple layers of requests and approvals. Enabling co-branding of marketing assets and helping partners deliver at ease helps the brand reach out to its end customers or prospects. Empowering partners to communicate and market on behalf saves time and helps spread the marketing effort at the ground level, where brands have limited or no direct access. A well-designed PRM framework accelerates brand marketing at grass root level efficiently.
PRM Boosts Lead Generation
Generating quality leads remains the essential goal for the brands and partners. Both have an equal stake in this process to stay effective and successful. Lead generation initiative has following characteristics:
- It is the consequence of all marketing initiatives and activities by the brand and partners
- It strengthens each of the marketing activities and targets
- It needs adjustment depending on the objectives, timing, and market conditions
Today, PRM can support seamless coverage from partner marketing initiatives to lead generation activities. Some of the functions required with lead generation are
- Deal registration and deal management
- Lead tracking and scoring
- Lead alerts, triggers, and notifications
- Lead segmentation, ROI, and KPI measurements
Partners need lead generation tools and processes relevant to their needs to execute successful marketing activities on the ground. PRM provides partners with a flexible lead generation and leads management environment. Brands can further motivate, monitor, and incentivize partners through the PRM programs for successful lead generation. Brands multiply their access to potential leads and market opportunities cost-effectively by integrating lead generation initiatives into the PRM program.
PRM Enhances Partner Marketing Outcomes
By enabling partners to do the marketing in the PRM program, brands generate valuable insights and provide recommendations to help improve the partner marketing outcomes. This serves as a win-win partnership to go to the market and brings cost-efficiency.
PRM provides a secured partner marketing automation environment. When integrated with data privacy and data protection mechanisms, it is a highly effective tool for co-marketing activities. One of the key objectives for PRM is to support partner marketing and lead generation to help nurture deals to customers. Additionally, partners get incentives to perform better in marketing activities. An integrated PRM platform makes it easy for partners to track, manage and enhance their marketing efforts. This saves time and makes the PRM program valuable for the partners.