Partner relationship management activities focus on internal channel management optimization and automation to simplify how partners do business with a vendor.
Video – 5 Core Partner Relationship Management Best Practices
Effective Partner Relationship Management involves five core practices: understanding your partners' business models and their market position; calculating the optimal number of partners for maximum reach; focusing on tailored training and incentives due to diverse product portfolios; managing partner loyalty by prioritizing their customer relationships; and periodically assessing and potentially eliminating underperforming partners. These practices ensure a strategic, profitable, and mutually beneficial partnership.
