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.
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The Ultimate Guide to Partnerships for Ecosystems in 2023
Also referred to as reward tiers. Tiers are essentially different compensation structures partners can be part of. Usually, each tier or level has it’s on requirements that partners need to meet in order to gain access to that reward structure. It is a great way to motivate your partners by offering them a way to graduate towards better compensation as they drive move value through your program.
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.
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