Partner relationship management activities focus on internal channel management optimization and automation to simplify how partners do business with a vendor.
Video – What Can You Do to Drive Your Market Development Funds Utilization?
Partner Relationship Management (PRM) often fails due to five key reasons: a short-term focus that neglects long-term planning, inadequate resources leading to underfunded PRM automation, a lack of unified approach hindering relationship and competency development, reliance on inefficient homegrown automation systems, Market Development Funds and over-complication of processes. Addressing these issues requires a strategic, continuous improvement approach and investment in appropriate automation platforms for successful, adaptable PRM strategies.
