Good partnerships don’t just happen. They require nurturing all along the way. It’s a significant time-suck to acquire, nurture, and maintain partnerships. But partnerships are absolutely key to your organization’s growth. So how do you make sure your partnerships are well taken care of at each stage of their life cycle, from acquisition to maintenance? With Impact’s Partnership Cloud™, which automates the complete set of workflows for each stage of the partnership life cycle.
5 Essential Stages of Partner Life Cycle Management
The partner life cycle consists of five main stages in how you interact with partners. Here are the steps:
- Identify and discover
- Activate and engage
- Grow, cultivate, and optimize
With Impact’s Partnership Cloud, you can automate some of the most important aspects of these stages so your partnerships are always nurtured and thus growing. Let’s look at each stage and how it works.
1. Identify and discover
First step, find a partner that indirectly sells to your target consumer. How can you do that without laborious time spent culling through hundreds of websites and resources? Impact’s Partnership Cloud helps you discover and recruit new digital media partners. Consequently, tedious, time-consuming work is eliminated.
You found some candidates, but how do you recruit them to sign on without painstaking effort? Impact’s Partnership Cloud engages potential partners through messaging automation tools and manages it all automatically.
Impact’s Partnership Cloud gives you control of onboarding new partners so you can automate terms, contracts, payout, and more—your “set it and forget it” partnership onboarding solution.
4. Activate and Engage
Here’s where the Partnership Cloud helps with actual partnership development. It “markets” to your partners so they are incentivized to bring in new customers and increase the frequency of repeat customers, and thus effectively grow your revenue stream—a whole new channel added to traditional sales and marketing channels.
5. Grow, Cultivate, Optimize!
It doesn’t stop at activation. The final stage in a partner life cycle is to grow, cultivate, and innovate within that partnership. The Partnership Cloud reveals how each partner is connecting with your consumers, how they interact with other channels along the path to purchase and what incremental value you get from each partnership so you can continually optimize toward growth with them.
Impact’s Partnership Cloud: Your Complete Relationship Management Solution
The Partnership Cloud™ offers you a full partnership management program by unifying a variety of Impact products (Radius, Mediarails, Forensiq Performance Suite, Forensiq Install Suite, and Altitude for Partnerships). With the Partnership Cloud, you now have a complete set of activities to forge, deepen and optimize your relationships with your partners.
From discovery, recruitment and contracting to tracking, optimizing and commissioning— essentially the entire partner lifecycle—Impact’s Partnership Cloud drives revenue growth from partners across the spectrum: traditional affiliates, influencers, strategic partners, app-to-app, premium publishers and other third-party channels. To find out more, reach out to your Impact rep or contact us here.back to all blogs