What is partner attribution?
Partner attribution refers to the process of correctly assigning credit to the partners who played a significant role in driving a specific sale or conversion. By tracking and acknowledging your partners’ contributions, you can better understand their impact and ensure you’ve set up commissions correctly.
For instance, let’s say you are a SaaS company and have several partners involved in different stages of your sales funnel. One partner may generate a lead, another might nurture it with webinars and content, and yet another might close the deal. In this scenario, partner attribution involves recognizing and attributing the sale to each partner involved.
Tracking partner attribution accurately involves a combination of strategies and tools to ensure that the contribution of each partner is correctly identified and credited. First, you’ll choose an attribution model that fits your business needs, such as first-click attribution, last-click attribution, or multi-touch attribution.
Tools that can help you track conversions include:
- Unique tracking links: Provide partners with unique links that they can use in their marketing campaigns or on their websites. These links include tracking parameters that capture data about the source of the traffic or lead.
- UTM parameters: This allows you to identify the source, medium, and campaign associated with the lead or sale generated by a partner.
- Cookies: Implement cookies that store information about the user’s interaction with a partner’s link. Cookies can help track users’ actions even if they don’t convert immediately.
- Referral codes: Assign partners unique referral codes that customers can use during the purchasing process. This code can be entered manually or embedded in the URL.
- CRM integration: Integrate your CRM system with your partner relationship management platform. This can enable automatic recording of leads and conversions attributed to specific partners.
- Conversion pixels: Provide partners with conversion pixels or tags that they can place on their websites. These pixels track user behavior and attribute conversions back to the referring partner.
To better track partner attribution, develop a dashboard that displays attribution data. This allows partners to monitor their own contributions and provides transparency across your ecosystem. You should also regularly audit your attribution data to ensure accuracy and identify any discrepancies that you need to address. Always maintain open communication with your partners about attribution methods, tracking tools, and reporting processes.
In the complex world of channel sales, where multiple touchpoints often contribute to a single sale, clear attribution can be challenging but is absolutely necessary for the health and growth of your partnerships. By combining these methods and tools, you can effectively track partner attribution and give credit where it’s due, fostering trust and strong partnerships within your ecosystem.