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Agency partner

Agency partner

Noun

[aye-jen-see part-nur]

An agency partner is a powerful partner, typically an agency who either send you leads or closes business on your behalf. They may also run a client's program on your software and charge them for services. Agency partnerships can increase marketing reach and earn additional referral revenue. They can help you reach new potential clients and add more value for current clients. They may also collect payments and maintain customer relationships on your behalf.

Agency partners work within the same industry between companies with aligned values and goals and they can provide significant improvement on ROI for businesses that utilize them.

Also see: Value added resellers (VARs).

Example: Louis was up to his elbows with current customers and didn't have time to source new leads, so he signed with an agency partner who found him new customers, nurtured his current relationships, and took over some marketing and payment efforts. Louis saw a positive impact on his revenue, and he decided to work even more closely with his agency partner for more efforts in the future.

More Partnership terms beginning with
A
Activation rate

Noun

[ack-ti-vay-shun ray-t]

An activation rate is a metric used by companies to determine when their users are achieving value. Your partner program’s activation rate is the percentage of partners that sign up for your program that gain or add value in the program. What is defined as activation can differ between programs, but it's often a first sale, first referral, or revenue achieved over a set number of months — something that indicates the partner is likely to stay profitable or engaged.

To determine your activation rate, you can take the number of partners who successfully met your activation metric, divide it by the total number of partners who joined your program, and multiply that result by 100.

Also see: Activation

Example: Soltech measured their activation rate to be 30%, which was lower than their target of 60%. They decided to revamp their partner onboarding process to better prepare their partners to sell.

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Activation

Noun

[ak-ti-vay-shin]

The process of enabling and mobilizing the partners you've recruited to perform valuable activities for your business (e.g. sharing a link, making a referral, or closing a deal.) Many programs will define partners as “active” as soon as they’ve made a single successful referral or sale, but this can vary by program, so it’s worth figuring out what determines whether a partner is truly active in your program. Common partner activation signals include first deal registration, first closed deal, or generating revenue for a set number of months.

Partner activation is different from partner onboarding. Activation requires the active participation of the partner in the program, so it normally occurs after a partner has successfully onboarded.

Example: The newest partner to join RayCorp's partner program achieved activation three months after they finished onboarding when they successfully closed their first deal.

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