Marketing partners of a Software-as-a-Service (SaaS) company are hired to promote that particular brand by providing the company with leads, bringing online customers, and maintaining an upstanding image in their respective industries. This marketing partner program is typically not considered an employment contract and may last for a fixed period or ongoing.
Benefits of being a partner program marketing
1. Leads
Partners are provided with leads that they can contact. Depending on the number of leads they are given, they may be able to send these leads to their sales team or contact them directly depending on the arrangement made between the parties. A SaaS partner program marketing is beneficial to the software-as-a-service company because the lead will not be considered a cold lead as it has been passed through a trusted reference. The partner also benefits from this arrangement by not having to spend resources on generating leads, they can focus on bringing transactions to the company.
2. High-quality traffic
Partners are chosen by the software-as-a-service company because they have proven that they have the resources and reach to bring customers to the company. This type of traffic is considered high quality as these leads did not come from paid search or other external means and are considered more likely to convert into a sale due to trust or other requirements set by the software-as-a-service company.
3. Sales support
Partners are also considered to be a valuable resource for the software-as-a-service company because they are given access to tools and information that may give them an edge in comparison to their competitors. This toolkit can create a competitive advantage for the partner compared to others in the same industry, allowing them to provide more value to their customers.
4. Partnerships
Partners of a software-as-a-service company are given the ability to showcase their brand as part of the partner program marketing, as well as get access to new tools and information that will allow them to better serve their customers. This helps create a relationship between the software-as-a-service company and its marketing partners that can benefit both parties.
5. Constant renewal
The partners are often considered to be ongoing partners as they have proven their ability to generate leads and bring them to the software-as-a-service company. These marketing partners are provided with the opportunity to renew their agreements again, which allows them to generate leads using the tools and information provided by the software-as-a-service company.
Due to all of these benefits, partner program marketing is essential for any business that is considering utilizing this type of marketing strategy.
Partner program marketing disadvantages
1. Company restrictions
Partner marketing is fairly new so as a result, there are still many uncertainties surrounding the process. This can lead to complications when it comes to what benefits and restrictions may be placed on a partner program marketing agreement. It may be difficult to determine the role that partners will have in the company, what restrictions may be placed on their actions or resources available for them, and what support they will receive from the company.
2. Competition
One of the biggest disadvantages of partner program marketing is that it allows for easy comparison between companies and individuals. Companies will have an easier time finding a company to partner with if they are more successful than their competitors, even if the company has not proved its ability to generate leads for the software-as-a-service company. All that is required from the former is that they can bring in more prospective customers than their competitors, even if this means they are less effective in generating leads or sales.
The partner program marketing is an effective tool for software-as-a-service companies seeking to grow their business due to its versatility in producing both new and qualified leads for the company. Despite these benefits, there are many uncertainties surrounding the implementation of this type of marketing strategy which can cause some confusion or be harmful to companies if followed incorrectly.