One of the most exciting and predominant job positions in the current business world, especially software technology, is that of Partner Manager. While B2B relationships have been around for centuries, how they are managed has changed drastically in the last few years.
As a result, the function of is constantly changing, defined differently from one business to another, and frequently characterized and measured especially in this technologically-driven business world.
- 1. 7 Top Partner Manager Skills
- 1.1. 1. Project Management Skill
- 1.2. 2. Business Development Skill
- 1.3. 3. Building Relationship Skills
- 1.4. 4. Marketing Skills
- 1.5. 5. Data Analytics Skill
- 1.6. 6. Strategic Thinking Skill
- 1.7. 7. Problem Solving Skill
- 2. Partner Management for Success: An Overview
- 3. Benefits of Good Partner Management
- 3.1. Increased Revenue and Growth
- 3.2. Increased Brand Recognition
- 3.3. Expanded Presence
- 4. The Essence of Partner Relationship Management (PRM) System
Table of contents
If you’re considering hiring a partner manager to assist in achieving business growth and development, this article will help you understand the partner manager skills to look for.
When choosing a professional to handle your partner programs, check for the top seven skills listed below:
A partner manager must be able to perform project management activities, using Project Management methodology, for software application and/or infrastructure projects.
Based on the importance of project management, the partner manager should be able to properly conceive as well as implement assigned tasks.
There should be no room for laxity as you must scrutinize your partner managers with a view to ensuring that they have the ability to map out accurate timelines.
Since a partner manager deals with the business partner, project management is one of the partner development manager skills that must not be compromised.
Business development refers to a set of activities that deal with finding relevant business growth strategies as well as executing them.
Sales, marketing, and product development are all crucial aspects of business development. However, steps such as networking, building alliances, and resource conservation should be explored.
You must ensure that your would-be partner managers have those requisite business skills. A partner manager should be able to supply strategic partners with thorough Partner Business Plans in order to ensure that the vendor and partner are aligned and share the same objectives, which will positively reflect on the outcome.
Also, the person should have the ability to support business development managers in stimulating the business growth for new services or products.
A good relationship skill is a virtue that cannot be underestimated in seeking a reliable and dependable partner manager. Relationship skills is the ability of the partner manager to establish and maintain healthy interaction with diverse individuals.
A partner manager that is naturally hostile and inhospitable to people has the high tendency of ruining your business.
Steer clear of partner managers that do not have virtues such as open communication, people skills, trust, respect, and positivity.
The manager should be amiable and friendly with people because people-oriented behavior often has a great deal of impacts on your business.
Bearing in mind that the ultimate reason for hiring a partner manager is to achieve business growth and development, marketing skills is a crucial criterion to be considered.
Marketing skills have to do with the ability of the partner manager to leverage a partner's network and reach a large audience of potential new customers. This has the capacity to increase your sales as well as boost revenue.
From design to implementation, a partner manager should be able to recommend or contribute in setting up a best-in-class marketing model that suits your business.
Data is critical in areas like partner programs since it reveals whether or not a partner is on the right track.
Skilled data analysts with the correct tools will aid in shaping and identifying partner personas and improve time after time. Overtime, it will also help identifying best partners to work with, the ones relevant for your business and you should take care of. Help your partners to release their potential, this will bring a huge success for both of you.
Data analytics is an important partner account manager skills because it aids in increasing productivity, efficiency, and revenue.
The results of data analysis will show an organization where it can improve, which procedures can be automated, and where it can save cost and other resources.
One of the most important roles of a partner manager is to plan and direct your partner programs. The manager must be able to establish an intentional and rational thought process that focuses on the examination of crucial aspects and variables that will affect the business and team’s long-term success.
The partner manager needs research, strategic thinking, invention, problem-solving skills, communication and leadership skills, and decisiveness to accomplish a higher output.
In the event of an issue, your partners will generally contact your Partner Managers first. This is where problem-solving ability becomes crucial among other partner manager skills, which is why it should not be overlooked during the recruitment.
Your partner manager’s problem-solving skills enable him or her to recognize a problem, determine the root cause, devise an effective solution, and successfully implement it. This equally involves the ability to assess if a strategy has achieved the goals designed to attain.
When confronted with an issue from a partner, a partner manager will be able to recognize and characterize the problem, as well as come up with viable remedies, employing problem-solving competence.
The method (and related structure) through which organizations steer and manage partnerships so that they are effective and profitable is known as partner management.
To achieve long-term success, organizations all around the world are increasingly collaborating with strategic partners.
Successful partner management will entail building a systematic framework that aids an organization in selecting and managing partners. With such a structure in place, your company and its partners will see higher earnings and success in the long run.
An organization’s partner management plan must be well-established. Your plan should be based on determining the best way to evaluate potential partners, the most efficient way to onboard them, and the most mutually-advantageous way to collaborate with them.
It is, however, important to have a well-defined structure and means of effectively managing partners. If success is the ultimate motive, partner relationship management involving tracking and communication software should be prioritized.
These frameworks are typically set up by organizations to assess and manage channel partners. They generally assist dedicated managers in tracking the work and sales of their channel partners.
Effectively managing your partners equates to increasing sales and profitability for both your company and your partners.
The following are some of the specific advantages of effective partner management:
Channel sales can be extremely effective and profitable. For some businesses, channel partners account for 30 percent (or more) of sales or revenues as the case maybe
Having more sales partners in the ecosystem, many of whom have big customer bases and market positions of their own, can significantly boost brand awareness.
Working with channel partners allows you to get your items to places where they might not otherwise be available.
Partner Relationship Management (PRM) is a software, processes, and strategies that businesses employ to automate business activities with partners that sell their products.
PRM systems are generally web- or cloud-based, and they typically include a partner portal, customer database, and other tools for managing leads, revenues, prospects, and sales KPIs. Inventory, pricing, discounts, and operations are all monitored via partner relationship management systems.
Regardless of how skilled their partner managers are, having a Partner Relationship Management software in place helps channel managers streamline all of their partner sales processes and reduce duplication within the company.
Partner platforms such as Kiflo provide a range of services that can be well-exploited as a successful Partner Relationship Management (PRM) software. A successful PRM implementation creates collaboration between vendors and partners, and allows for a profitable relationship that continues on healthily.
Frequently Asked Questions (FAQ)
What makes a great partner manager?
A great partner manager must be able to develop strong relationships by being a proactive, responsive, and strategic resource; being educated about their partners’ products, companies, and industries; and being an excellent salesperson and sales coach. The manager must also be capable of assisting in the creation of demand, referring leads, and advocating for their partners when challenges emerge. He/She should also be capable of getting new partnerships off to a good start and integrating all of their partners into a community.
What do partner managers do?
Partnership Managers are in charge of developing and pursuing collaborative sales prospects, as well as hiring and acquiring new partners, and training and supporting them. They also coordinate operations between the partners and the host companies.
What does it mean to be a partnership manager?
By adjusting and meeting goals, a partnership manager aids company partners in forming a working relationship. They may be hired on a per-project or permanent basis, and they work with general managers to increase revenues for their respective organizations.
What is a partner success manager?
A Partner Success Manager (PSM) is a dedicated professional who works directly with partners to ensure that they have access to the product expertise, marketing and sales support tools, and partnership updates they require. Partner Success Managers serve as a single point of contact for each partner, ensuring that they always have someone to turn to for assistance.