FAQs related to Howaboutsales BRM
Channel sales refer to the the sale of a good or service by a third-party such as a partner or affiliate, rather than a company’s personnel.
Channel management refers to the process whereby the company develops various marketing techniques and sales strategies to expand their customer base through a network of “channel partners”. The channel partners are the indirect parties a company uses to indirectly sell your organization’s products to end customers.
BRM is an abbreviation for Business Relationship Management. It enables the commercial process or collaboration between account managers and sales partners. It facilitates the two-way approach (push and pull) and helps manage the relationship between the existing parties.
A BRM software connects companies with their sales partners in a digital way. It enables joint business planning, digital collaboration and follow-ups. It aggregates and centralizes relevant data from other tools and systems. You can describe this as a performance management and collaboration tool for channel sales.
A BRM software connects companies with its sales partners through digital means. BRM is different from PRM (Partner Relationship Management), the latter is focused on providing sales partner with the right content (Push). In contrast, BRM focuses on the commercial process and collaboration.
BRM is used for connecting companies with their their sales partners through digital means. It enhances commitment in the commercial relationship from both parties. It helps create clear objectives and activities (OKR) for both parties working towards a joint strategic collaboration. It can also be used to aggregate and centralize relevant data from other tools and systems (BI, CRM, ERP etc) to prevent the overload of data for the account managers.
BRM software is important for two types of companies:
1. Companies selling their products or services through indirect sales channels.
2. Companies selling their products or services through a set of recurring strategic accounts.
The following are examples of industries who use BRM software: financial services, manufacturing companies, FMCG, construction material companies, retail, etc.
There are three main reasons:
1.To connect with sales partners through digital means.
2.To support account managers and enable them to become strategic advisers of their sales partners.
3.To aggregate relevant data and get an overview of the status of strategic accounts or sales partners.
More digitally advanced companies understand the shortcomings of a CRM system and are moving away from a one size fits all approach. They are starting to adopt BRM software which enable better collaboration and improve business relationships between an organization and its partners. However, BRM softwares are cloud solutions (SaaS) for sales channel management, so they require organizations to adopt a digital mindset.
BRM adds value to businesses selling through indirect sales channels.
For example, an insurance company sells its products through a broker network. How can the insurance company make sure that the broker offers its product instead of its competitors product?
Of course, the size of the commission plays a role, but that’s not all that matters. Insurance companies try to add value in their business relationship by training agents or brokers and helping them building their companies. This way, they increase their partner’s commitment and win their share of voice (SOV).
Other examples of industries who need BRM software include: financial services, manufacturing companies, FMCG, construction material companies, retail, agriculture, IT hardware etc.
BRM adds value to businesses selling through indirect sales channels.
The benefits of BRM are numerous:
1. Increased productivity: Increased focus for account managers due to segmentation and strategic alignment.
2. Increased share of voice for sales partners: established digital relationships provide more opportunities to improve partnerships and create more relevant touch points.
3. Increased commitment: Joint business planning leads to increased accountability, effective follow-ups and a better understanding of each other’s goals.
4. Segmentation: Classify partners to effectively implement your strategy and activities.
5. Business strategy based on OKR’s: Create activities and campaigns linked to your company goals.
6. Partner strategy: Generate an automated account plan and customize your plan on segmentation and business strategy.
7. Regular follow-ups: Get information to effectively evaluate partner activities.
8. Performance management: Get instant insights on partner and management performance.
9. Internal activity tracking: Measure how BRM is used within your organization and get results.
Howaboutsales (HAS) is a user-friendly Business Relationship Management (BRM) software. It is the first software to-date that enables businesses to commercially collaborate with indirect sales partners (intermediaries, branches or agents). Our customers get more than 10% production increase and 10% efficiency gains by improving their collaborations with indirect sales partners.
The pricing of BRM software is comparable to the prices of CRMs. At Howaboutsales, pricing starts at €80 per user per month.
CRM is an operational tool used to register data, centralize and aggregate data from various tools or platforms, and analyse data.
In contrast, BRM is a strategic tool focused on the commercial process of collaboration. It connects with CRM systems to facilitate the two-way approach (push and pull) of relevant data.
While CRM systems are great tools that can enter all the data and provide a complete overview. Sales teams only need 20% of the relevant data to generate 80% of its impact. Moreover, they don’t like to enter all the fields in the CRM system.
PRM is an abbreviation for Partner Relationship Management. It is used by companies who want to work with partners to sell their products.
PRM software sends your marketing material to your channels, agents and partners. It makes it easy to collaborate with indirect sales partners, and it also keeps track of their performance and stores store up to date information.
These indirect sales partners may include independent software vendors (ISVs), value-added resellers (VARs), consultants, retailers, original equipment manufacturers (OEMs) among many others.
BRM is a strategic tool focused on the commercial process of collaboration between an organization and its existing customers or partners.
BRM is different from PRM (Partner Relationship Management), the latter is focused on providing sales partners with the right content and marketing materials. It helps to create clear objectives and activities (OKR) for both parties working towards a joint strategic collaboration. It can also be used to aggregate and centralize relevant data from other tools and systems (BI, CRM, ERP etc) to prevent the overload of data for the account managers.
In contrast, PRM software sends your marketing material to your channels, agents and partners. It makes it easy to collaborate with indirect sales partners like independent software vendors (ISVs), value-added resellers (VARs), consultants, retailers, original equipment manufacturers (OEMs) among many others. It also keeps track of their performance and stores store up to date information.
CRMs are used to monitor customer behavior across the buying cycle to improve the sales process and get more customers. In contrast, PRMs are used to provide sales partners with the right content and marketing materials.