Referral   Affiliate Program Overview
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Referral Affiliate Program Overview

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Overview of Referral / Affiliate Channel Program

Overview of Referral / Affiliate Channel Program

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Referral   Affiliate Program Overview Referral Affiliate Program Overview Presentation Transcript

  • Referral / Affiliate Program © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Process 1. Selecting the Right Partner 2. Determining Commission Rate 3. Determining Lead Expiry 4. Process © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Selecting the Right Partner  Types of Affiliate / Referral Partners to Select  Consultants  Choose those who consult with your target market  Aligned Solution Companies  Companies that sell a product/service that is aligned with yours that would refer leads but would not invest in selling your product.  Potential Sales Agents/Resellers  Companies that might down the road be a fit to resell your product but you both may want to see how this arrangement works first before an investment is made. © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Determining Commission Rate  How do I determine what to pay Affiliate or Referral Partner?  You first need to determine what your margin is on the product and who is receiving the lead.  Direct Sales and/or Indirect Sales  Decide if you are going to have one rate or two?  Sometimes companies have 2 rates depending on partner involvement in the sale.  Does the partner have the relationship that will close the sale and have their trust?  What are the average rates?  It is dependent on the product/service and price and margin of product, but industry average is 2.5-5% for a lead.  If you want to create another level, you might consider doubling your first one if they aid with the sale. © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Determining Lead Expiry  Typically the lead should expire after a certain time period – usually 3-6 months depending on sale cycle of product.  If the lead is still good after that period of time they should resubmit the lead to see if you still view it as viable. © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Process  Partner shows interest in referring leads:  Either send them a short very basic contract outlining the rules / process or have this part be part of their submission each time on the form.  This is to ensure there is no question later on the part of the partner of what the terms and conditions are for the program.  This can either be done manually or through a website.  Since Affiliate programs became the more popular term with the onset of web products, many have separate interfaces for their partners to submit leads.  Have the partner submit the lead with information you require and assign a rep or partner to the lead.  You should inform the partner of the submission and how long the lead will be viable. © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Process  Partner shows interest in referring leads: (Cont.)  Once the lead closes, you need to inform the partner and provide a statement of what they require in order to invoice you.  Payment will be made to the partner.  The lead will then be closed depending on payment plan determined.  Many recurring revenue products such as SaaS models pay for a period of time based on the contract. © Copyright RK Fischer & Associates, 2010 All Rights Reserved.
  • Making Business Simple © Copyright RK Fischer & Associates, 2010 All Rights Reserved.