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What is a PRM and a GTM Solution and How Does Combining Them Benefit Your Business?

This article explores what Partner Relationship Manager (PRM) and Go-to-Market (GTM) solutions are and how merging them can boost your business. By understanding their roles and the benefits of combining Kiflo and Heedjy's platforms, you can enhance partner collaborations and improve market entry for better results in the competitive landscape.
How Combining a PRM and GTM Solution Benefit Your Business?
Published on
February 13, 2024

In today's ever-changing business world, it's essential to master Partner Relationship Management (PRM) and Go-To-Market (GTM) strategies for long-term success. This article breaks down what PRM and GTM solutions are and highlights the advantages of blending them. By grasping the unique functions of each and how they work together, businesses can enhance their partnerships and market approach, gaining a competitive edge in the process.

What is a Partner Relationship Manager Platform (PRM)?

A PRM is a specialized software solution designed to streamline and optimize the collaborative efforts between a company and its referral, reseller, or affiliate channel partners. PRM platforms offer tools and features for partner ecosystem coordination, streamlining onboarding, enhancing communication, fostering transparent collaboration, and efficiently managing partner relationships. This drives mutual success while also facilitating onboarding, training, and sharing of sales and marketing materials.

Furthermore, PRM platforms help organizations manage and nurture their partner networks, ultimately encouraging stronger and more productive alliances to drive mutual success in the marketplace.

How is a PRM platform managed?

Managing partner relationships involves various activities to cultivate effective collaboration and optimize external partners' performance within a business ecosystem. Key activities include partner onboarding, which ensures seamless integration and alignment with the company's goals and processes. Training initiatives are implemented to enhance partner skills and understanding of the company's products or services. Deal registration and lead management are crucial for transparent and fair collaboration with the sales team, while performance tracking allows for measuring partner contributions. This holistic approach to managing partner relationships helps organizations create a streamlined and mutually beneficial partner ecosystem.

What is Kiflo?

Kiflo is an intuitive and comprehensive PRM platform, streamlining all aspects of the partnership lifecycle and serving as an instrumental tool for building, tracking, and scaling multiple partner programs concurrently. With a focus on creating a robust partnership ecosystem, Kiflo offers features such as an overview of partners’ engagement and sales pipeline, customizable KPIs for strategic insights, and streamlined onboarding, including a centralized place to share important assets and branding materials. Notably, Kiflo simplifies incentive programs and creates loyalty among partners, allowing organizations to integrate partners seamlessly into their goals while efficiently tracking rewards and incentives.

What is a Go-to-market (GTM) platform?

GTM is a process through which a company introduces and sells its products or services to its target audience. It includes all the activities and initiatives required to acquire and retain customers.

Partnerships expand GTM activities and considerations:

- You’re offering more than one product and proposition, so you have a more diverse value proposition. This is a big benefit because it means you’re diversifying your value to customers and not dependent on just one thing to bring in revenue and keep customers choosing your offerings over competitors. Your variety becomes a competitive advantage.

- You have the potential to consolidate a much larger customer base. If you’re using the ecosystem model correctly, you’re hugely increasing the value of what you offer. And more value means you’re more popular with customers.

Example: Say you’re a digital company that offers a marketing automation platform where users can schedule all their marketing campaigns, and you integrate with a company that allows users to schedule all their social media posts. Together, you have a platform where users can schedule emails and social posts, probably at a friendly price point because you’ve bundled the two offerings together.

How is a GTM platform managed?

A GTM platform helps modern partner managers make the most of every partnership by consolidating the usually fragmented tech stack into one deeply integrated platform, and it starts with the partner GTM process. Integrating the platform enables better visibility and ease of use, so you’ll find anything you need to build, automate, and scale your partner GTM process:

- release and market partnerships through a curated catalog of your core offerings with third-party products and services, where all technology and services are available in a unified marketplace. This streamlines the customer journey, meaning they can get everything they want from one place rather than having to go here, there, and everywhere to get everything they need.

- consolidate all content, materials, and conversations in one place, share information securely, and shadow your partners to speed up transactions and close more deals. No more email threads and manual, asynchronous pipe updates meetings.

- align different departments, improving collaboration and ultimately enabling organizations to successfully navigate the complexities of bringing products or services to market.

What is Heedjy?

Heedjy is a GTM platform that helps SaaS companies maximize revenue with their partners through a simplified sales process, clear activity tracking, and streamlined tooling.
Heedjy is a platform that centralizes product and service listings and co-selling activities and ensures real-time data sync across stakeholders. This harmony translates to streamlined operations, eliminating the inefficiencies of disjointed tools and processes.
The Heedjy platform makes it easy for ISV customers to accelerate sales cycle time and reduces friction in the buying process.

What are the common needs for partnership managers overseeing PRM and GTM solutions?

Partnership managers overseeing both PRM and GTM solutions share everyday needs centered around effective collaboration, streamlined communication, and comprehensive data management. These professionals require strong PRM platforms that support seamless onboarding and training of external partners, ensuring that these partners are well-aligned with the company's objectives and equipped to market and sell products effectively. The PRM solution should also facilitate tracking to assess and enhance the contributions of external partners.

Moreover, partner managers typically need to manage a curated company's product and service catalog that partners can offer to customers. Without catalog management, it is difficult to determine which packages or offerings are most effective or whether the catalog contains valid, up-to-date information. By adding a GTM solution, PRM capabilities can be expanded to directly link partners to the product catalog available to customers and sales teams. A GTM also facilitates the management and development of the catalog by enabling partner collaboration with internal Marketing and Product teams.

A GTM platform also feeds partner programs with sales methodologies to understand response times and content sharing. This accelerates co-selling, improves performance through data collection, and simplifies tool usage both within existing systems and through a unified platform.

Both PRM and GTM solutions share the common need for analytics and reporting capabilities, providing partnership managers with insights to make informed decisions, refine strategies, and adapt to evolving market conditions. Ultimately, a holistic approach that addresses these shared needs ensures partnership managers can effectively navigate the complexities of partner relationships and market launches, driving overall business success.

What are the major benefits of using a PRM?

A PRM platform offers a comprehensive set of advantages for businesses engaged in partnerships. Firstly, it facilitates an efficient onboarding of new partners by streamlining integration processes and ensuring alignment with the company's objectives. Communication is greatly improved through centralized hubs, enhancing collaboration between the company and its partners. PRM platforms also play a vital role in training and knowledge transfer, equipping partners with the necessary skills and information. Deal registration features prevent conflicts and ensure fair distribution of leads, while lead management tools optimize the conversion process.

Performance tracking, analytics, and reporting tools provide valuable insights into individual partner performance and the overall health of the partner ecosystem. Additionally, the centralization of partner-related data simplifies decision-making. PRM platforms offer scalability, adapting to the evolving dynamics of a company's partner network as it grows. This scalability ensures that businesses can accommodate increasing partner numbers without compromising efficiency.

What are the biggest benefits of using a GTM platform?

GTM solutions offer numerous benefits for partner managers seeking to effectively launch and promote products or services. Firstly, Through audience segmentation, GTM solutions enable targeted marketing strategies optimized for specific customer groups. This improves campaign effectiveness. Additionally, GTM solutions help determine optimal pricing and automate consistent marketing messaging. This saves time and resources while ensuring alignment. Integrated sales tools also align sales and marketing efforts for a cohesive strategy.

Furthermore, GTM solutions empower data-driven decisions through analytics and reporting. The comprehensive capabilities provide a competitive edge to successfully enter markets, increase revenue, and achieve strategic goals efficiently and precisely.

Additionally, GTM solutions empower businesses with data-driven decision-making through robust analytics and reporting tools, enabling agile responses to evolving market conditions. The comprehensive capabilities of GTM software provide a competitive advantage, positioning businesses to successfully penetrate markets, drive revenue, and achieve strategic objectives with efficiency and precision.

How can combining PRM and GTM solutions benefit your business?

The integration of PRM and GTM solutions can yield significant synergies, offering a holistic approach to managing external partnerships and optimizing the entire product or service launch process. By combining PRM and GTM, businesses can seamlessly align their partner ecosystems with overarching go-to-market strategies. PRM platforms facilitate efficient onboarding, training, and communication with partners, ensuring they are well-equipped to contribute effectively to the go-to-market initiatives. This integration enables businesses to coordinate marketing and sales efforts with external partners, creating a cohesive approach that maximizes reach, enhances customer engagement, and drives revenue generation.

Moreover, the unified data management capabilities of PRM and GTM solutions provide a comprehensive view of partner performance, market trends, and customer interactions. This allows businesses to make informed, data-driven decisions that refine both partner relationships and go-to-market strategies in real-time. The PRM and GTM collaboration streamlines internal processes and enhances the business's adaptability and responsiveness to dynamic market conditions. Ultimately, this integration creates a powerful ecosystem where effective partner management aligns seamlessly with strategic go-to-market initiatives, resulting in increased efficiency, competitiveness, and overall business success.

Combining a PRM solution like Kiflo with Heedjy, a GTM solution, creates a powerful combination of optimizing external partnerships and product launches. This integration seamlessly aligns partner ecosystems with overall go-to-market strategies. Kiflo's PRM capabilities simplify partner onboarding, training, and communication, ensuring partners contribute effectively to go-to-market initiatives. The collaboration enables coordinated marketing and sales efforts, maximizing reach, engaging customers, and driving revenue. Both solutions' unified data management provides a comprehensive view of partner performance and market trends, facilitating real-time, data-driven decisions to refine relationships and strategies. This enhances internal processes, making the business more adaptable and responsive to market changes, resulting in increased efficiency, competitiveness, and overall success.

What are the best practices in using a combined PRM/GTM solution?

Combining a PRM solution with a GTM software platform brings significant advantages by aligning partner relationships with revenue operations.

It enables smooth partner onboarding and communication, leveraging PRM strengths in managing partnerships alongside the GTM efforts. This combination provides a unified view of partner performance and co-selling motions, enabling businesses to make real-time informed decisions. Furthermore, it boosts efficiency, competitiveness, and adaptability, creating a dynamic ecosystem for success in the marketplace.

Some best practices:

Strategic Alignment: Ensure that your PRM and GTM strategies are aligned with overall business objectives. The integration should support the organization's overarching goals, emphasizing consistency and coherence in partner management and market entry.

Sales enablement: A GTM solution like Heedjy serves as a reliable "source of truth" for both customers and internal sales/support teams, providing solutions to customer-described problems and addressing queries about integration functionalities. The implementation of partner-created videos, support documentation links, pricing information, case studies, and essential contact details enhances the tool's effectiveness in delivering comprehensive answers and supporting seamless customer experiences.

Partner Catalog: This centralized list of trusted technology partners and their complementary products offers channel partners many options to create comprehensive solutions aligned with customer needs. The catalog not only boosts sales for both channel and technology partners but also streamlines the process for channel partners to assemble complete solutions. The time saved from independent research on suitable complementary products is appreciated by channel partners, while technology partners gain increased exposure through the extensive network of channel sellers.

Data Integration: Tracking partners' sales processes is a valuable strategy for enhancing your partner program and improving the customer experience. Identifying successful engagement points and areas of struggle enables you to provide additional resources, training, or incentives where needed. This tailored approach enhances your partner program, supporting sales efforts and maximizing customer retention. Intervening when partners face challenges in the sales cycle allows for customized support, such as training, tools, or lead generation assistance.

Customization and Scalability: Choose a PRM/GTM solution that allows for customization to adapt to specific business needs. Additionally, ensure the solution is scalable to accommodate growth, providing flexibility as the partner network expands and go-to-market strategies evolve.

Performance Analytics: Leverage the analytics and reporting capabilities of the integrated solution. Regularly analyze performance data to gain insights into partner contributions, market trends, and the effectiveness of go-to-market strategies, allowing for continuous optimization.

Feedback Loops: Establish feedback loops with partners and internal teams to gather insights on the effectiveness of the integrated solution. This iterative feedback process helps identify areas for improvement and ensures ongoing alignment with business objectives.

Cybersecurity Measures: Implement robust cybersecurity measures to safeguard sensitive partner and market data. A secure and compliant environment is crucial for maintaining trust with partners and protecting valuable business information.

Key takeaway benefits when combining Kiflo and Heedjy:

1. Strategic Alignment for Success: Combining Kiflo with Heedjy ensures strategic alignment between partner relationships and revenue operations. This alignment supports overarching business objectives, fostering consistency and coherence in both partner management and rev-ops.

2. Unified View and Informed Decision-Making: The integration of PRM and GTM provides a unified view of partner performance and market trends. This real-time insight empowers businesses to make informed decisions, enhancing efficiency, competitiveness, and adaptability in a dynamic marketplace.

3. Best Practices for Effective Integration: To maximize the benefits of this combination, businesses should focus on strategic alignment with overall goals, provide comprehensive training on the integrated solution, establish clear communication channels, seamlessly integrate data between Kiflo and Heedjy components, ensure customization and scalability, leverage performance analytics for continuous optimization, establish feedback loops for improvement, and implement strong cybersecurity measures to safeguard sensitive data.

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