What are value-added referral partners (VARPs)?
In the realm of channel partnerships, value-added referral partners (VARPs) are crucial allies that go beyond the role of traditional referral partners. These partners actively promote and recommend your products or services to potential customers, while also providing additional value through their expertise and support services.
Unlike standard referral programs, VARP partners provide extra value through their expertise, services, or complementary products. Some examples could be:
- A SaaS provider collaborating with a VARP that offers consulting services to implement and customize their software
- An IT security company partnering with a VARP that delivers cybersecurity training and awareness programs to clients
- A cloud computing firm joining forces with a VARP specializing in data migration and integration services, enhancing their offering by providing seamless transitions to the cloud
- An e-commerce platform teaming up with a VARP known for its digital marketing prowess, helping businesses not only set up their online stores but also drive traffic and sales through effective marketing campaigns
Referrals from VARP partners carry significant weight as they come with the endorsement and credibility of the partner’s brand. They’re also win-win situations. Your company benefits from increased sales and market reach, while the VARP partner can monetize their client relationships and offer ongoing services.
Value-added referral partners are vital contributors to your indirect sales strategy. Their ability to refer, promote, and add value to your products or services extends your market reach, boosts credibility, and fosters a thriving partnership.