Hey there, Partnership Managers!
Are you trying to recruit every single partner under the sun?
While it may seem like a good idea at first, trust me, it's not. In fact, most partnership managers find that the majority of their program's revenue comes from just a tiny fraction of super-involved partners.
That's why it's important to figure out which partners are the cream of the crop before you even launch your program. Your ideal partner personas will decide everything from how you incentivize and reward partners, the resources you give them, and how you advertise your program to partners.
The first question to ask isn't even about partners, it's about customers. Specifically: how do customers find and buy your product? Do they do a ton of online research and purchase it themselves, or is it a more complicated product that might need help from an agency or reseller?
Okay, so you've identified your dream partners. But what kind of business do they run?
Are they affiliate marketers that bulk up your inbox, or do they actually work with your target customers directly? Maybe they're already your customers and just don't know it yet.
What's going to get these partners to join your partner program? Is it just the allure of cold, hard cash? Or are they looking to sell products that add value to their portfolio and work together like a well-oiled machine?
And most importantly, how are you going to find and recruit these partners? Sending a generic email to your entire contact list isn't going to cut it. You'll need a targeted strategy to locate and woo your ideal partners.
By identifying your ideal partners from the get-go, you'll be able to create a partner program that actually gets results for your business.