The season of higher goal setting, increasing quotas and the pressure to do more is upon us.
With nearly 80 percent of all business revenue flowing through the indirect channel, Channel Chiefs are on the front lines to drive their operations and deliver more. Naturally, everyone wants to come out of the gate strong in the new year and not only meet but surpass their goals.
Unfortunately, the plans most companies make to accelerate their channels only result in incremental year-over-year growth and don’t result in the dramatic step change in revenue they’re looking for. No amount of tweaking and switching partner program parameters has as much power to completely transform the performance of your channel in 2017 than making this one key decision:
“Buying a contemporary, out of the box, SaaS based PRM.”
Why is this THE key decision that has more power than nearly any other change you can make to your channel operations this year to accelerate your revenue? Consider these four stats to help your team avoid fence-sitting when it comes to the PRM buying decision – and make them want to run to the PRM store:
1. 86 percent of partners make their decision on whether or not to partner with a vendor, based on their Partner Portal.1
a. Your Partner Portal crystalizes how contemporary the experience and tools are that you are going to offer potential partners. If you’re not offering a world-class experience, potential partners will move onto a company that does.
2. The ceiling for being able to scale your partner program without a PRM is 50 partners.2
a. Spreadsheets and email can only take you so far. If you don’t automate, beyond 50 partners you really won’t be able to scale and you’ll top out.*
3. For every $1 you invest in a PRM, you save $10 in manual labor costs.3
· Your CFO will love you, because everyone wants growth without adding headcount. Ultimately, you can’t effectively pour enough bodies on a program to scale it as effectively as you can with automation.
4. The average company with a contemporary PRM, generates an incremental $9M in incremental channel sales – a YEAR.4
· Every month and every quarter that you run your channel without a contemporary PRM, you are leaving SERIOUS money on the table, and your competitors who have one will run revenue circles around you. In the scheme of things, PRM is a TINY price to pay for tremendous returns. National Instruments, for example, saw a 120% increase in their channel revenue after implementing their new PRM solution. Check out the case study here.
You might think it’s too late to make any kind of major difference in Q1 – but it’s not. With Impartner PRM, our SaaS solution can be out of the box and have you up and running with a new Partner Portal in as few as 30 days. Click here to watch more case studies to see how Impartner has helped transform channel programs for world leading corporations like LogRhythm and A10 Networks and learn why we’re the most highly awarded PRM solution in the world.
Ready to start your New Year’s Revenution now? Click here for a demo.