Commission rate
Noun
[ko-mish-in ray-t]
A commission rate is the reward or payment associated with either a percentage of sale or payment. In partnerships, partners can earn commission on either qualified leads or on closed sales. The commission rate is the percentage of the value of that lead or sale that is paid to the partner.
The commission rate you offer should depend on how much the partner is involved in the sale, as well as how much work they’re doing to maintain the client over time. For example, you may choose to give affiliates a commission of 15% for one year, but give resellers 30% for the lifetime of the account, because they're doing much more work to sell and maintain that account over time.
Example: Giro's partner program paid a commission rate of 25% to resellers, who did more work to close a sale, and 15% to affiliates, who did less work to produce leads.
Is PRM Dead? The State of Ecosystems in 2023
Noun
[cuss-toe-mur ad-vo-kit]
A customer advocate is a devoted customer who believes in the value of your business and trusts your product(s) to be worthy of recommendation. They are willing to share their experiences with your product with others, which can greatly benefit your sales process. Customer advocates often collaborate with businesses on case studies, article posts, backlinks, and webinars.
Positive endorsement from existing customers is one of the most compelling tools a potential customer can use in a purchase decision. This makes customer advocates extremely valuable to your organization.
You may have customer advocates approach you, but more often you will have to identify them. Look for repeat customers, glowing reviews, and long-term relationships.
Example: You notice a longtime customer referring a lot of leads your way. You reach out to them and find they're super happy with your services. You ask them if they'd be interested in being a customer advocate, and you plan a webinar with them that brings in even more business. Yay!
Noun
[cuss-toe-mur am-bass-a-der]
A customer ambassador is a satisfied customer who takes on a special role helping promote the company and its offerings to their peers. Customer ambassadors have experience with the product, believe in its value, and are willing to recommend it to others. They sometimes contribute to customer case studies, webinars, and other promotional activities for the company.
Customer ambassadors are an extremely important avenue of promotion since personal endorsements and recommendations are so highly valued in a buyer's journey. To spot customer ambassadors, look for successful, highly engaged customers who refer business to you.
Example: Kelly noticed a particular customer was the referral source for several new leads. She reached out to the customer and found they loved the product. Kelly invited the customer to participate in a webinar. Voila, a customer advocate!
Grow bigger and better with PartnerStack
Go all in with partnerships. Demo our platform to see how you can diversify your channel and scale revenue.
