Time to first sale
A measure of the time it takes for new partners to close their first sale after they've been recruited into their program. The faster you can help partners make their first sale, the more likely they are to stick around and drive long-term revenue. This metric is great for illustrating the scalability of a program to the executive leadership team.
Is PRM Dead? The State of Ecosystems in 2023
Triggers are "if-this-then-that" style workflows that help automate your partner program and works similarly to many marketing automation platforms you might have used already. There are 3 main components to build a trigger.
1. Event: what sets off the trigger. For example, a new customer or transaction being created.
2. Rules: the set specific criteria for the trigger, like which partner groups it applies to, or if it applies to only specific types of transactions, etc.
3. Action: the result of the trigger. For example, generate an additional $10 reward for a partner.
When an event occurs that meets the rules, the action happens.
A technology partnership is when companies develop integration capabilities for each other’s product which is why it is sometimes referred to as an integration partnerships. This partnerships involves exchanging and enriching data to ultimately offer more value to the customer and end-user.
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