Every business out there knows partner sales can be a huge boost to their bottom line, at a fraction of the cost of expanding their internal sales force. Yet all too often, despite 92% of companies relying on partners to bring in at least a portion of their revenue, educating and empowering their channel partners falls to the bottom of the to-do list for many sales leaders. Why? Channels can be large and unwieldy, and it takes time and dedication to see the pay-off from the investment.
Partners will lean into the products that are easiest to sell, so it pays to treat them like they’re part of your organization and empower them with the same tools and sales materials as your internal sales teams. Salesforce Partner Relationship Management (PRM) is designed to solve for that — making it faster and easier for vendors to communicate and empower partners.
Today we’re introducing three new features to our PRM product, built on Sales Cloud. Our latest enhancements remove channel sales friction by delivering intelligent insights and visibility to your partners, helping drive their growth, as well as yours — because that’s what a partnership is all about.
This tool helps partners identify and prioritize leads by surfacing AI-driven insights. Powerful data mining capabilities within Einstein Discovery use past lead and opportunity performance to provide predictive recommendations, which then guide individual partners to focus on the right leads and close deals faster.
For example, Einstein Discovery can analyze recent opportunities and see that trade show attendance has a strong impact on winning deals; therefore, channel managers can strategically allocate budget for trade shows, and partner reps can extend trade show invites to their biggest prospects.
Partners now have the freedom to explore their data and better analyze, manage, and expand their business. Typically, vendors send a static report to all partners, without the capability to explore or segment the data. Now a partner can edit a report to tailor it to the needs of their business and guide decisions.
For example, a partner looking to enter a new market can now break down an aggregate report on Q2 sales into region, state, or product and then allocate resources accordingly for Q3. This puts partners in control of their growth strategy, and in turn, sell more for you, the vendor.
Quip enhances real-time collaboration between a company and its partners, ensuring all parties always have the latest information. With Quip productivity workspaces, partners can actively align with companies on yearly business plans and KPIs, co-selling activities to drive deals forward, or proposals and quotes to close deals faster, while always connected with their CRM.
For example, an organization can roll out a new standardized account plan process for partners with customizable templates that combine live Salesforce data, strategies, action items, and more. And if a partner rep has questions, she can collaborate with an account manager in real-time on the account plan avoiding long email threads, meetings or other siloed communications.
Riverbed Techhnology, Inc., an IT company focused on maximizing digital performance, uses Salesforce PRM to navigate relationships with its nearly 3,000 channel partners. "Salesforce PRM has helped us build stronger connections with our partners. They now have a one-stop-shop where they can get all the information they need," said Meg Brennan, Senior Director of Global Channel Operations at Riverbed Technology. "We know this is working because our traffic has increased tenfold and we are adding more users than ever before."
These features, all available today, empower businesses to drive growth through partnerships by intelligently surfacing insights and strategically aligning on priorities. We’re empowering channel partner managers to spend less time doing administrative tasks and more time acting as strategic advisors while improving the selling experience for partner teams. When companies and partners are in lockstep, the easier it is to sell products, and the faster you and your partners will grow.
Learn more about Sales Cloud PRM on Trailhead to get started!