An interesting way to increase a sales organization’s revenue is by allowing distributes, resellers or other 3rd parties to represent them in certain geographies or markets. Getting insight in how these 3rd parties perform is as important as managing the own sales organization.
But managing these 3rd parties which we call partners is more than signing the agreement to do so. Oracle Sales Cloud Partner Relationship Management (PRM) can help you manage many aspects of how sales organizations collaborate with their partners:
- Define how they will work together
- Set periodical goals and report against them
- Share marketing funds for the partner campaigns
- Work on leads and opportunities together
- and much more
There will be 9 more episodes in this series each targeting a specific aspect of PRM.
Once partners are defined in Sales Cloud the partner contacts can be marked as users after which they can logon too.
The partner acquisition process is organized through partner programs to witch partners can enroll.
Once partners are signed up and know on what segment of the market they should work, objectives or commitments to achieve common goals can be defined in Business Plans.
Marketing Development Funds
Partners can request funds from a channel organization budget to support their own marketing initiatives.
Partner Territory Management
Once partners are signed up, they need to know what part of the market they can work on. Just as for the regular sales force: Territory Management does the job.
Channel managers can distribute leads amongst their partners in an organized way
The leads generated by the marketing initiatives, or through other sales activities, can be logged by partners in Sales Cloud as leads or opportunities. But in order to get exclusivity or extra discount, Sales Cloud supports a special deal registration where partners can officially submit a request for these advantages.
Share generic information with partners through partner announcements or very specific information through the Oracle Social Network.
Partners and other Oracle CX Clouds
But partners can not only benefit from sharing a Sales Cloud system with a direct sales organization, why not support partners with other parts of the Oracle CX suite of cloud applications like CPQ Cloud and compensate them through Incentive Compensation.