What are the best platforms for managing and monitoring partnerships?

1 Types of partnerships

Before we dive into the platforms, let's clarify what we mean by partnerships. Partnerships are strategic relationships between two or more entities that collaborate to achieve a common objective, such as increasing sales, generating leads, or enhancing customer experience. There are many types of partnerships, such as affiliate, referral, co-marketing, co-selling, reseller, channel, or strategic alliances. Depending on the type of partnership, you may need different tools and methods to manage and monitor them effectively.

2 Key features of partnership platforms

A partnership platform is a software solution that assists in managing and monitoring partnerships in a single location. It can help with various aspects of the partnership lifecycle, including finding and recruiting partners, creating and signing agreements, setting and tracking goals, sharing and accessing resources, communicating and collaborating, measuring and reporting results, and rewarding and incentivizing partners. This platform offers features such as partner discovery and onboarding for finding potential partners that match criteria like industry, audience, or product; partner management and collaboration for managing partner activities like campaigns, events, or content; partner performance and analytics for tracking partner performance in terms of revenue, leads, conversions, or retention; and partner rewards and incentives for motivating partners with commissions, bonuses, or prizes.

4 How to choose the right platform for your partnerships

Choosing the right platform for your partnerships requires you to consider several factors, such as your partnership goals, budget, resources, and preferences. Before making a decision, ask yourself what you want to achieve with your partnerships, what types of partnerships you have or want to have, what features and functions you need to manage and monitor your partnerships, what pain points or problems you face or want to solve with your partnerships, and what criteria or preferences you have for your partnership platform. Answering these questions can help you narrow down your options and compare the platforms that best suit your partnership goals, needs, and preferences.

5 How to get started with your partnership platform

Once you select a platform for your partnerships, you can begin by signing up for a free trial or demo to explore its features and functions. Afterwards, set up your account and profile, customize your settings and preferences, import or invite existing partners, and recruit new ones. After that, launch your partnership programs or campaigns and provide your partners with the necessary resources and guidance. Then, track and monitor partnership performance and results using the platform's dashboard and reports. Additionally, optimize and improve partnership results using the platform's insights and feedback. Finally, reward and incentivize your partners using the platform's payment and recognition systems. Overall, by following these steps you can effectively manage and monitor your partnerships with the platform.