10 Nov Grow Revenues by Outsourcing Virtual Partner Account Managers
Virtual partner account managers (VPAM) can grow revenues, especially when launching a new portfolio of products, or when making rapid marketplace changes. In these cases, it makes sense to outsource the function and bring in a team of experienced VPAMS who can focus on specific partners.
Outsourcing partner engagement to VPAMs is an opportunity to ramp up a sales team quickly, to target a specific channel or vertical. At Sales Beacon, we’ve helped our clients see annual revenues grow by 50% by supplying outsourced VPAM teams.
Implementing a VPAM team opens the door to leverage the revenue potential of under-utilized second and third-tier partners in addition to allowing you to build relationships and customer loyalty. Working collaboratively, you can define solutions and support to grow and drive your pipelines, which in turn, will drive your revenues.
Here are four ways VPAMs can impact revenue:
- Add headcount quickly
Leveraging a specialist in a specific vertical can allow a company to access partner experts, without adding internal headcount. The benefits to this approach includes reducing the expenses associated with recruiting and onboarding.
Bringing on a VPAM team allows you to get a sales team up and running and focused on a specific channel in a short time, without taking focus away from other channels. As a side benefit, this also frees existing account managers to work with other strategic accounts and close more deals.
The third benefit is the flexibility contractual resources offer the team. They can pivot quickly and efficiently and are able to take on tasks that typical employees may not be qualified to do nor would be part of their job description.
- Maximize partnerships
By working closely with VPAMs you can gain reliable forecasts of partner revenue. This allows you time to adjust approaches or pitches if necessary. This means you build on existing synergies to leverage future deals and grow revenues. This also brings with it the added benefit of uncovering deals that are partner-led and might not even have been on your radar.
Well prepped VPAMs develop new opportunities more quickly.
- Train for product
Well prepped VPAMs develop new opportunities more quickly. Ensure your technology solutions are on target and your training solutions have enough depth to provide the team with the information they need to develop strong sales cases.
A VPAM will have the skills to overcome objections. You need to be sure they have the resources they need to access and distribute your sell sheet to provide detailed sales pitches. They’ll be better able to represent your interests.
- Focus sales teams
Many internal sales teams spend up to 25 per cent of their time on non-sales related tasks. VPAM teams are focused on developing your verticals, without getting caught up in pulling reports and filing. This leaves your key people free to focus on other critical parts of your business.
A Final Word
Working with a VPAM is just one way to open business opportunities and maximize the partnerships you’ve worked hard to develop. The end result helps grow revenues because you remove barriers and maximize efficiencies.
Be sure to check out our other blogs on partner enablement to learn more about how Sales Beacon can facilitate partner enablement for your company.