Rewarding Partners for Proactively Referring Sales Opportunities
It is very common for resellers to uncover opportunities they themselves cannot – or will not – respond to. Perhaps they don't provide a suitable solution (e.g., a networking VAR becomes aware of a telecommunication opportunity, but does not have the necessary skill set to take ownership of the lead), or perhaps they are just too busy pursuing other deals.
In these instances, the best situation for everyone is for the identifying partner to refer the opportunity back to the vendor who will in turn assign it to the best reseller for the job. By aligning introducing these partners to a referral program that compensates them for their insight and influence, vendors can create a tremendous new stream of incremental opportunities – and often identify these prospects before traditional marketing programs would reach them. This situation ultimately results in the identification of more sales opportunities, drives down customer acquisition costs, and rewards partners for their engagement and contribution.
Even 'non-partners' can become a valuable element of your strategy to identify incremental sales opportunities – with other vendor's resellers uncovering projects within their clients that you'd be interested in learning more about and pursuing as sales leads.
Unfortunately, yesterday's partner compensation models, incentives, and lead management solutions don't drive maximum partner engagement or vendor revenue potential.
To ensure referral partner success, BLUEROADS referral management solutions allow the creation of vendor programs that -
- Make it easy for referral partners to submit opportunities
- Allow vendors the ability to review and approve any submission and quickly route the referred opportunity to a suitable reseller
- Provide vendors a means to effectively track referrals and pay compensation based on established policies (such as paying the referring partner when a deal closes or reaches an identified stage in the sales cycle)
- Ensure the referring partner has confidence and trust in the vendor to compensate them for their contribution
The BLUEROADS Referral solution
enables vendors to harness the power of the larger channel (and indeed independent organizations with no formal affiliation) to refer incremental sales opportunities into the organization. Sophisticated workflows within BLUEROADS allow the submission, duplicate checking, partner alignment, and compensation processes – ensuring that every opportunity is properly tracked from submission to closure and that all participating partners are compensated based on the role they play in the sales cycle.
Want to learn more about BLUEROADS Lead Referrals Management? Click here to view a five minute demo.
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