You’ll include an outline of your goals, a list of the rewards you want to share with your partners, how the program will operate, and more.\u00a0<\/p>\r\n\r\n\r\n\r\n
It’s not necessary to have your entire partner program template set up and ready to run from the get-go. It’s more common to start with a basic plan that isn’t entirely finished, and then fill out the rest as you establish the partnership with a specific business or individual.<\/p>\r\n
Templates are living documents. It’s normal if some sections are well-fleshed out, but you don’t have enough information to work with in certain other sections. Think of your partnership program template as a roadmap and not the final destination.\u00a0<\/p>\r\n\r\n\r\n\r\n\r\n\r\n
Why do you need a partner program template?<\/h2>\r\n\r\n\r\n\r\n
A partner plan template helps you organize all aspects of your partner relationships from start to finish. But over and beyond helping you plan and determine action steps, and set up milestones, a partner plan template can help:\u00a0<\/p>\r\n\r\n\r\n\r\n
Ensure you don’t overlook any critical aspects of planning and managing the partnership.<\/strong> You don’t want to miss out on any strategic planning steps along the way.\u00a0<\/p>\r\n\r\n\r\n\r\n Set expectations for the partnership.<\/strong> It helps determine your roles and how the partners will work individually as well as in tandem.\u00a0<\/p>\r\n\r\n\r\n\r\n Set parameters for measuring the partnership\u2019s success once it\u2019s live.<\/strong> When you start fleshing out your program template, you\u2019ll have a better sense of the metrics or KPIs (Key Performance Indicators) you want to record to identify how well you\u2019re doing.\u00a0<\/p>\r\n\r\n\r\n\r\n Actively build your partner program template before you start sourcing partners. We recommend that you include 12 sections in your template: six for before you shortlist potential partners and six for after you shortlist potential partners. Our readymade downloadable template covers all the necessary sections (we’ll guide you through filling in these sections below).\u00a0<\/p>\r\n Download our free partner program template by clicking or tapping on the image below.\u00a0<\/strong><\/p>\r\n We recommend that you include 12 sections in your template: six for before you shortlist potential partners and six for after you shortlist potential partners.<\/p>\r\n When businesses decide to tie up with partners, it\u2019s often to achieve goals that they wouldn\u2019t be able to achieve on their own. Partnerships help each partner expand their potential and achieve new heights.\u00a0<\/p>\r\n\r\n\r\n\r\n The goals section, like the name suggests, is about identifying the specific goals you want to achieve through creating your partnership ecosystem.<\/p>\r\n\r\n\r\n\r\n Here are some of the most commonly cited goals relevant to any type of business:<\/p>\r\n \r\n\r\n\r\n\r\n<\/p>\r\n This next section is about the detailed metrics you will track to measure the success of your partner program. While you\u2019re listing your metrics out, it\u2019s a good idea to follow the SMART formula. They should be specific, measurable, attainable, relevant, and time-bound.\u00a0<\/p>\r\n\r\n\r\n\r\n Example ways to measure ROI include:<\/p>\r\n \r\n\r\n<\/p>\r\n The next section is about deciding partnership types. At this point, you\u2019re determining the kind of partnerships that would be beneficial for your business based on your goals and the metrics you want to achieve. Use the following list of partnership types for reference and to help you decide your options:<\/p>\r\n\r\n\r\n\r\n Retailers,<\/em><\/strong> who will sell your products in their physical or online storefronts.<\/p>\r\n\r\n\r\n\r\n Wholesalers (resellers),<\/em><\/strong> who will purchase large quantities of your product all at once and then resell them.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n Distributors<\/em><\/strong>, who will purchase smaller quantities of your product that will eventually get into retailers\u2019 hands.<\/p>\r\n\r\n\r\n\r\n Agents or brokers,<\/em><\/strong> who will set up relationships between your company and other companies.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n Affiliates,<\/em><\/strong> who will advertise your products to their online audience and bring traffic and leads right to your website. They won\u2019t be selling your products directly. Your partnership program can function just as effectively and similar to an affiliate program, in this case.<\/p>\r\n\r\n\r\n\r\n Referral partners,<\/em><\/strong> who are trained to share your business with people and companies they already have an existing relationship with.<\/p>\r\n\r\n\r\n\r\n\r\n\r\n Other hand-picked advocates,<\/em><\/strong> such as brand ambassadors<\/a> (who love your brand, authentically share how they use your products, and share a link to your website).<\/p>\r\n\r\n\r\n\r\n\r\n\r\n The \u201cfinding partners\u201d section is about head-hunting potential candidates and shortlisting the best. Use the following questionnaire to guide your sourcing and finalizing of partners:<\/p>\r\n\r\n\r\n\r\n Once you\u2019ve made a shortlist of potential partners, evaluate their suitability with these questions:<\/p>\r\n\r\n\r\n\r\n Next, you\u2019re going to work on the specific incentives, otherwise known as the rewards you\u2019re going to be offering to your partners or partner managers.\u00a0<\/p>\r\n\r\n\r\n\r\n What monetary incentives will you offer to encourage partners to sign on? Some examples to consider include:<\/p>\r\n\r\n\r\n\r\n Next, how will you make sure these incentives grow in value the more sales a partner makes? Will you offer other secondary incentives as well, like spotlights on your website, meals at high-quality restaurants, or exclusive events just for partners?<\/p>\r\n\r\n\r\n\r\n\r\n\r\n It\u2019s not recommended to manage a partner program manually using basic tools like spreadsheets. Given that your partner program is going to function like a self-contained unit with branches to key stakeholders, it\u2019s ideal to have Partner Relationship Management or PRM software<\/a> in place.<\/p>\r\n\r\n\r\n\r\n Aside from giving you a single 360-degree view into your operations, PRM software also helps you streamline the tracking and management of your partner program.\u00a0<\/p>\r\n\r\n\r\n\r\n Here are a few specific points to consider when you\u2019re narrowing down on software for your business:<\/p>\r\n\r\n\r\n\r\n \r\n\r\n<\/p>\r\n \r\n\r\n<\/p>\r\n \r\n\r\n<\/p>\r\n \r\n\r\n<\/p>\r\n \r\n\r\n<\/p>\r\n \r\n\r\n<\/p>\r\n\r\n\r\n\r\nWhat to include in a partner program template?<\/h2>\r\n\r\n\r\n\r\n
![\"Referral](\"https:\/\/referralrock.com\/blog\/wp-content\/uploads\/2023\/02\/Referral-Rock-Partner-Program-Template.png\" "\\"\\"")
<\/a><\/p>\r\n1. Goals<\/h3>\r\n\r\n\r\n\r\n
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2. How to measure ROI of all partnerships<\/h3>\r\n\r\n\r\n\r\n
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3. Partnership type(s)<\/h3>\r\n\r\n\r\n\r\n
4. Finding partners<\/h3>\r\n\r\n\r\n\r\n
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5. Incentives you\u2019ll offer<\/h3>\r\n\r\n\r\n\r\n
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6. Tools and software<\/h3>\r\n\r\n\r\n\r\n
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