What does PRM stand for?
Partner Relationship Management
Partnership Return Management
Partner Relationship Monotony
Partner Reluctance Management
What is an ecosystem in the context of partnerships?
An orchestration of all your indirect channels leading to scaled access to customers
A network of plugins that can scale your software
Just a tech integration
A science term
How much revenue can a partner program bring in a year?
As much as 100%
As much as 75%
As much as 25%
As much as 50%
What industries leverage partnership management programs the most?
Restaurants, beverages and hospitality
Construction and engineering
Hardware, software, healthcare and manufacturing
Creative arts and community services
Key benefits to a partnership program?
Recruiting, retaining and delighting customers
Making new friends
Better network connections and easier access to business intel
Sweet optics and good marketing
Top skills every partner program manager should have include:
Communication, relationship building, business development, product knowledge
Customer success, sales, time management, technical aptitude
None of the above
All of the above
Risks of executing partnership programs poorly?
There are some risks but they wouldn’t impact the business
Your IT department gets mad at you
There are no risks!
Unhappy partners, decreased market presence, higher customer turnover
What are some key things that make up a strong partnership profile
Great personality, attractive and smart
Strong customer base, ability to produce results and willingness to engage
Contractual obligations, interest in customers and specialized
Proud, hard-working and efficient
What are some traditional ways of working partner management programs replace?
Admin work, data collection and relationship management
Financial management, bookkeeping and accounting
Marketing, product development and product delivery
None of the above
When is an ideal time to launch a partnership program?
Once you’ve raised a round of funding
Once you’re a large enterprise organization
Before you’ve built your product
Once you’ve achieved product market fit