Impact, the global leader in partnership automation, released a commissioned study conducted by Forrester Consulting. The study, Make Tactical Improvements to Your Partnership Program, provides a set of actionable next steps for optimization, fully tailored to the maturity level of the individual program.
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“Automation was key to the process; once we automated the more tedious phases, we were able to reallocate that time to relationship building and expanding our strategic efforts.”
The World Trade Organization cites that 75 percent of world trade flows indirectly: not through direct selling but through channels, partnerships and alliances. Impact’s commissioned study confirms that partnerships remain a significant revenue generator – 29 percent of direct-to-consumer (DTC) decision-makers estimate a 20 percent or greater year-over-year revenue growth rate for 2019 from their partnership channel sales.
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“Partnerships are an increasingly significant driver of enterprise growth. The question is no longer ‘if’ or ‘why’ – it’s ‘how.’ How do you put a program into action? What insights can new partnership programs apply from those who have been forging the path?” said Michael Head, Chief Partnerships Officer, Impact. “Partnership professionals now have a window into the methodologies of the most successful programs, down to the benchmark partner mix by vertical or tactical recommendations for each stage.”
The study found that there are seven phases within a partnership lifecycle. Each phase has different goals and objectives depending on the maturity of the program. The seven phases are: Planning, Discovery and Recruitment, Contracting and Payouts, Tracking, Engaging, Protecting and Monitoring, and Optimization. Within the phases, the study recommends a different approach for high- versus low-maturity programs.