Referral partner
Referral partners send qualified leads for your team to close and earn a percentage of the revenue when a deal goes through. The audience of a referral partner is not as large as that of a marketing partner, but a referral partner typically know more about the people they are referring, often having a direct one-to-one relationship, meaning the leads they send tend to be highly qualified.
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The Ultimate Guide to Partnerships for Ecosystems in 2023
A reward structure where the revenue generated from a deal is shared between a vendor and a partner. For example, if a $50,000 deal is closed, the vendor may keep 75% and give the partner 25% for a payout of $12,500.
Noun
[ree·seh·lr prow·gram]
A type of partnership program where channel partners fully manage the sales cycle from lead generation to closed/won business. Reseller programs are a way to reach a new customer base through indirect sales, with reseller partners selling to the end customer on the behalf of a SaaS company to earn commissions or revenue shares on those sales. Typically, they'll get higher rewards than any other type of partner to acknowledge their greater effort. Reseller programs take greater effort to set up, as comprehensive resources and training are needed to set partners up for success.
Example: Since reseller programs take the most level of training investment, they are typically reserved for the highest-quality partners, often those who have graduated from a referral program.
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