A referral partner is an individual or business that actively promotes a company's products or services to their network of contacts in exchange for a commission for each successful referral. Referral partners send over qualified leads to close and earn a percentage of the revenue when a deal goes through.

Referral partners do not typically have audiences as large as marketing partners, but they typically have a pre-existing relationship with the leads they refer. Because of the trust and personal experience, referral partners have access to higher quality leads that are more likely to convert.

Referral partnerships are often mutually beneficial. For businesses, they provide access to a pre-qualified pool of potential customers, speeding up sales cycles and reducing customer acquisition costs. For referral partners, they offer an opportunity to monetize their network and expertise while providing valuable recommendations to their contacts. A prerequisite for a successful referral partnership is a clear agreement outlining expectations and incentives, comprehensive onboarding and training, and ongoing communication and support.