Glossary of commonly used and discussed terms in Partner Programs
What is a Partner Program?
A Partner Program is a set of guidelines, resources, and incentives that a company offers to its partners, such as resellers, distributors, and affiliates, to encourage them to promote and sell its products or services. Partner programs are designed to help companies expand their reach and increase sales, while providing their partners with the tools and support they need to be successful.
The main components of a partner program typically include:
- Partner tiers: A system of different partner levels, such as Silver, Gold, and Platinum, that offer varying levels of benefits and incentives.
- Training and certification: Resources and training materials to help partners learn about the company’s products and services, as well as certification programs to recognize partners that meet certain standards of knowledge and expertise.
- Marketing and sales support: Resources such as sales collateral, lead generation programs, and co-marketing funds to help partners promote and sell the company’s products or services.
- Technical support: Assistance and resources to help partners resolve technical issues and provide customer support.
- Portal access: A web portal or Partner Portal that provides partners with access to resources, tools, and information about the company’s products, services, and programs. These are also referred to as a PRM
- Incentives and rewards: Financial incentives, such as discounts, rebates, and bonuses, as well as non-financial incentives, such as recognition and awards, to recognize and reward partners for their performance and contributions.
A well-designed partner program can help companies increase their sales, improve their market reach, and enhance their relationships with their partners.
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”Torchlite checked all the boxes. We were looking for a PRM that enabled us to engage and collaborate with partners in a meaningful way, and Torchlite makes that all possible.Anthony KapitanskiHead of Partnerships at Chili Piper