For a SaaS startup company, its long-time customers are often the largest source of income. As such, you would want them to stay with you even longer. One way to do this is by encouraging them to partner with you.
But how do you develop and maintain such programs? Let’s explore these strategies and find out how Virtua Solutions can help you more.
What Are SaaS Partner Programs Anyway?
At its most basic, a SaaS partner program is a marketing strategy where your users promote your product. In exchange, they get various rewards. That can include discounts on your products, incentives like commissions, or other tangible benefits. Unlike regular rewards programs, these offer rewards based on marketing results. The more sales they generate, the bigger the rewards they get.
Note that the SaaS partner program can be between you and individual users or with organizations. In the latter case, you might want to create a more extensive program that benefits their employees.
Another thing to note is that those joining your partner program remain independent. While they will work with you on a general marketing strategy, each partner is free to implement it in their way. That gives the program greater flexibility in reaching out to new customers and bringing them into your fold.
What A SaaS Partner Program Brings
Aside from the obvious increase in revenues, various other benefits starting a SaaS partner program can bring. When used correctly, these benefits can help accelerate the growth of your business significantly.
Increased Reach
It can often be hard to reach out to more of your current market on your own. That is more so if you are trying to penetrate a new market. Partner users can make it easier for you to connect with these markets. You also establish better relationships with these new customers gained through your partners.
Effective Scaling
The strategy can help you safely scale your operations. That is because it provides a win-win situation that encourages partners to deliver more results. You can also create a snowball effect as more people join your program.
Better Tracking Of Results
One unique aspect of SaaS partnership programs is that they use performance-based marketing principles. That gives you a more effective way to track the results of your efforts. In particular, you can use it to understand the performance of specific marketing channels. With that, you better orient various aspects of your business to use these channels more effectively.
The Types Of Partner Programs Your SaaS Startup Company Can Explore
One great thing about building a SaaS partner program is that your startup company has a lot of options. Thus, you can be more creative in how you do the program. However, the most common ones you can implement are the following.
Referral Program
This type is https://www.saasquatch.com/wp-content/uploads/2016/04/canva-referral-1440×653.pngone of the simplest partner programs you can launch. Your users refer potential new customers to you and they get rewards when these referrals sign up. And there are no marketing skills required on the part of your partner. It also boasts of a high conversion rate since the referrals are often associates of your current users.
Affiliate Programs
This type of partner program is similar to the referral but differs in how participants get their rewards. Instead of a fixed reward for each successful referral, your partner receives a percentage commission from the sales that each lead generates. Additionally, the program can have a wider scale, since the partner distributes their affiliate links to more people.
Reseller Programs
If you operate on a B2B model, this partner program would be a great option to consider. Here, your clients get to sell your services to their customers. The idea is that, since your product works for clients, it can also potentially work for their customers. This setup is beneficial for both sides since your partner’s business gets a continuous side income.
Integration Programs
Integration partner programs are not exactly geared towards customers. Instead, you work with other businesses to build a more user-friendly service. That partner can either be a client or a complementary business. The main draw of this type of partner program is that you can enhance the value of your service further.
Choosing The Right Partner Program For Your SaaS Startup Company
While you can theoretically do any type of partner program, the one you go with should be the best fit for your company. For that, ask yourself the following questions.
- Do you have a product/market fit? Think about the people your customers will likely refer to you and see if they would fit your desired customer profile.
- Do you have brand evangelists in your customer base? These evangelists will be your first partners in the program who will be willing to promote you.
- Are there businesses that will benefit from recommending you to their customers? Look for complementary businesses that are looking for solutions their customers need.
By asking these questions, you get an idea of the partnership landscape you face. From there, you can gauge what type of program would give the best yield. You will also be able to define specific aspects.
Choosing The Right Incentives Your Startup Company Should Give
Of course, the main draw of any partner program for customers is the incentives they can get. Here, you should think about what would benefit them the most. For instance, a client company might benefit from discounts on additional members for their subscriptions.
Consulting with your customers is arguably the best way to know what incentive to give. However, there might be times when you might not be able to provide their wishes. You can work with them to come up with a more desirable alternative.
Helping Manage Your SaaS Startup Company Partner Program
Planning your SaaS partner program is the easy part, though. Running it afterward is where you need to exert a lot of effort. And for a startup, you might not have enough hands for that. Virtua Solutions is ready to help you here by providing full support.
Our customer service team will serve as a guide for users who wish to join your program. We will help them keep track of their rewards and account status. Our agents will also help them discover new ways to use your product and take advantage of their rewards.
Lastly, we will assist you in tracking the metrics of the program. That is vital, as it helps you chart a course for the future development of the partnership. Our team can even determine new strategies to boost the program.
When done right, the partnership program will not only bring you more customers. It can also be a great opportunity for your SaaS startup company to build a stronger relationship with them. So, contact us today, and let’s start building that program.