Let’s start with the issue; building a SaaS company is hard. Technology is one part but frankly where most fail is customer acquisition. We speak frequently and have referred to “Crossing the Chasm”. This is getting past failure mode into a phase where if the company is bootstrapped can start to met ongoing obligations and develop a genuine growth strategy. For many this might represent the phase where founders leave paying employment and commit themselves fulltime to the endeavour.
If you can do that you’re in the minority and if you are looking for funding this will dramatically increase the businesses’ valuation.
To achieve this, building sales networks is key, just the same as for Partnify.
At Partnify we must focus on our vendors, companies that use Partnify, help them accelerate their sales growth. We strive to enhance the opportunity for companies regardless of their stage to grow. In doing so we look towards innovative ways to build referral networks.
Let’s take some time to highlight the typical and emerging methodologies that Partnify support today.
One Tier Referral
Most referral solutions are great if you have your own existing client base and wish to provide an incentive to your customers refer people. Important, but for many this will be a relatively small network. Perhaps it is useful for established companies or those with significant funding to build a brand. However for a significant proportion of companies, such as startups this provides little value. Hence a more powerful solution championed by Partnify has been developed.
Two Tier Referral (The Partnify Marketplace)
Of more value for early stage companies is Partnify’s approach of the two and three tiered referrals. This is where there is a community of affiliates (referers) that can select any company work with based on the incentive and nature of the business they identify. For affiliates it represents a major opportunity with the benefits being able to select, manage and be paid from a single location where a collection of vendors reside.
The analogy is shopping; when you are looking for a new piece of furniture or say a car, they are typically either online or physically where people congregate. The Partnify Marketplace emulates this for affiliates. Indeed this is where affiliates and vendors are “Partnified”.
For vendors the reverse is true. By appearing in a marketplace where affiliates congregate the benefit is obvious. More recognition and opportunity to acquire partners. But like all marketplaces ensure you have a strong commercial offering. Affiliates are looking for opportunity that fit their audience and provide an attractive commercial offering; that is commission, duration and recognition length (cookie duration).
Three Tier Referral ( Commercialising your network)
If you reflect on the traditional supply chain there is the manufacturer, then the distributor, reseller and lastly the end of the supply chain. This is analogous to the the model depicted below. Any person may join the marketplace with a view of promoting any of the vendors. However if you a group of people that you believe have the attributes of becoming successful affiliates then we invite you to apply to become a Master Affiliate. Master Affiliates, just like distributors receive income based on the total revenue through their channel.
Importantly income derived from this relationship does not effect affiliates, vendors or end users.
Master Affiliates in the traditional model are distributors, that is they can bring (or develop) many potential affiliates to the Partnify marketplace. These “wholesalers” come from a variety of sources;
Affiliate consultants and complimentary networks
The affiliate world is a complete ecosystem, so those who occupy it as consultants, educators, thought leaders or have complimentary networks are idea potential Tier 3 candidates.
WordPress marketeers and bloggers
Since Partnify has a WordPress plugin it creates an opportunity for any who have an audience of WordPress bloggers, who often have a affiliate persona.
Blogging software providers
Blogging companies are looking for way to monetise their software for themselves and their clients. Affiliate success brings a recurring revenue stream to both parties.
Web hosting companies
Where are blogs located? Web hosting companies naturally. So promoting an affiliate opportunity create recurring income for them and their clients alike.
Looking for another way to monetise traffic? Consider the promotion of Partnify to your publisher network.
Partnify partners with companies wishing to become Tier 3 partners on an individual basis. If you believe your business is suitable for this opportunity we look forward to speaking with you.