What is partner-sourced revenue?
Partner-sourced revenue refers to the income your company earns as a direct result of your channel partners’ activities. It’s typically the revenue you generate when your partners initiate a sale, negotiate the deal, and close the transaction.
Imagine you’re a cybersecurity company and one of your partners, a technology consultant, recognizes their client needs your solutions. They introduce your products to the client, conduct the negotiations, and finally, close the sale. The resulting revenue from this deal would be considered partner-sourced revenue.
Partner-sourced revenue can be a significant component of your total revenue, especially if you have a strong network of committed, proactive partners. The higher your partner-sourced revenue, the more effectively your partners are contributing to your overall business growth.
Increasing your partner-sourced revenue requires a strategic approach that involves growing the size of your partner network and empowering your partners to meet your company’s sales goals.
To empower your partners to generate more revenue, start by providing all of them with comprehensive training and enablement programs. Equip them with in-depth knowledge about your products or services, value propositions, and target customer profiles so they can navigate the sales cycle more efficiently. Then, provide them with marketing materials, co-branded collateral, and access to marketing automation tools to increase the number of qualified leads that convert into revenue.
Regular communication and performance tracking are also essential to ensure that both you and your partners are aligned toward achieving revenue goals.