The Need for Partner Relationship Management: Why Get One?
Author: Joel Owens
Author: Joel OwensMobile phones life span is short, in terms that the model cell phone today may be obsolete or out of fashion in 6 months time. Millions of cell phones are sold yearly but most these cell phones will be outdated and out classed within a year from the time it was sold. There are many cell phone manufacturers, Nokia, Motorola, Samsung, LG are some of the well known mobile phone manufacturers. Each of these companies have already used every advertising medium to increase there sales. TV commercials, celebrity endorsement, radio plugs, prints ads these are some of the marketing strategies various business companies are using to increase their sales.
Bombardment of advertisement is a good way to increase sales; however direct selling is also crucial in increasing sales. Channel partners have first hand information about the customers buying habit since they are in direct contact with them, they can study the buying pattern of the target market. In the Philippines, the texting capital of the world, most Filipinos purchase Nokia brand mobile phone than other brands. This is vital information which Nokia could capitalize; the next question would be which a channel partner in the Philippines has the greatest potential? What should Business Company do to know and pin point channel partners that has the best selling opportunity?
Proper communication and specific marketing campaign should be implemented within every channel partners. Partner Relationship Management or PRM is what every business sales company needs in order to expand their market. It is a software application that improves the communication between the manufacturing company and their channel partners. Many business solution companies offer this type of business strategy, which not only enhance the communication between the company and their channel partners but also provides other marketing features that will increase the productivity of the company. Few of the features a PRM solution offers are the following:
Inventory Access
It is important to have track of the companys inventory, PRMs allow companies to have an easy access to their channel partners real time inventories and back ordered items. Companies will also be able to have access to the channels customer purchase history which is essential in identifying cross-sell and upsell opportunities.
Promotional Discounts programs
One of the features is Promotional Discounts, this feature allows a company to provide promotional discounts for their channel in a limited time. This will support channel to increase sale and observe whether the promo boosts their sales or no change has been made, the feedback gathered from this feature will help the company to create better marketing campaigns for the weaker channels.
Competitor Tracking
It is also to keep track of the competition; it will gather research regarding the companys leading competitors including reports about their latest products and innovation. In this way companies with PRM can devise a counter marketing campaign against their competitors.
Properly managing Channel partners and establishing a good communication are tedious tasks however if a company manages to fulfill these tasks, the reward could be very significant. Partner Relationship Management can greatly assist companys to bring out the best out of their channel partners and increase their market.About the Author:
A computer graduate and loves to travel. Reading current news in the internet is one of his past times. Taking pictures of the things around him fully satisfies him. He loves to play badminton and his favorite pets are cats and walk with them in the park with some dogs.
You may want to take a look at our Partner Relationship Management webpage for more information and details or you may call us directly at 877 226 2564 (TOLL FREE).