Customer ambassador
Noun
[cuss-toe-mur am-bass-a-der]
A customer ambassador is a satisfied customer who takes on a special role helping promote the company and its offerings to their peers. Customer ambassadors have experience with the product, believe in its value, and are willing to recommend it to others. They sometimes contribute to customer case studies, webinars, and other promotional activities for the company.
Customer ambassadors are an extremely important avenue of promotion since personal endorsements and recommendations are so highly valued in a buyer's journey. To spot customer ambassadors, look for successful, highly engaged customers who refer business to you.
Example: Kelly noticed a particular customer was the referral source for several new leads. She reached out to the customer and found they loved the product. Kelly invited the customer to participate in a webinar. Voila, a customer advocate!
The Anatomy of a High-Performing Referral Program
Noun
[con-vir-shin rayt]
A conversion rate is the average number of conversions per ad interaction as a percentage. Remember that a conversion is a desired goal of an ad, often a website visit or sale. Conversion rate can be found by dividing the number of conversions by the total number of ad visitors and multiplying by 100 to get a percentage.
While desirable conversion rates vary greatly by industry and business model (the average conversion rate in Google Ads is 4.40% on the search network), a high conversion rate can be indicative of a successful ad campaign.
Example: Mikaela was calculating the conversion rate of her ad campaign. There were 1100 conversions out of 35,600 total ad interactions, yielding a conversion rate of 3.09%.
Noun
[cha·nuhl paart·nr·shuhps]
In B2B SaaS, a channel partnership is a joint venture between a software vendor and a partner to resell, manage and deliver the product to end customers. Channel partnerships are a mutually beneficial relationship as they act as an extension of the vendor's marketing department, allowing the vendor to sell more with lowered customer acquisition fees. The partner benefits by making a cut of the revenue for customer referrals or sales.
Example: Channel partnerships are a way to grow revenue by capturing additional customers and allowing SaaS companies to focus on their core business.
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