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Partner engagement

Partner engagement

The process of keeping partners active participants in your program, whether that means driving traffic or submitting leads and deals, the goal is to encourage partners to continually drive value through your program.

Also see: Partner activation

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Passive income

Noun

[pas-iv in-kuhm]

Passive income is revenue that an individual or a company generates without actively working for it on a regular basis. Make no mistake, it can sometimes take a great deal of upfront effort to generate passive income. But once the initial lift is completed, little to no active effort is required for that revenue to keep coming in on an ongoing basis. This makes it a really attractive method of earning revenue, especially over time.

Partnerships provide companies with an opportunity to generate this kind of passive income. For example, an agency may generate revenue (very actively) by working on client projects. But if they also sell software subscriptions on behalf of vendors, and that vendor offers them 15% of the monthly recurring revenue (MRR) of customers they sold to, then the agency will receive a nice chunk of passive income each month.

Example: With passive income from partnerships rolling in every month, marketing agency CEO Lissandra can feel confident that she could still pay all employees, even in dry months without a lot of new clients.

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Partner enablement

The process of educating partners and providing them with the resources they need to successfully promote your offerings. This might include educational resources that familiarize the partner with your product and how to speak to it, promotional resources that kick-start their on promotional strategy, or systems and processes they are able to utilize as they navigate their partner journey.

Also see: Partner journey

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