How partners will promote your business, what and what payments they will receive, whether they can work with your competitors – all these points are spelled out in the partnership agreement between the affiliate and the company. We tell you how to correctly draw up a partnership agreement to protect your Discounts and promo codes business from legal, financial and reputational problems.
What is a partnership agreement?
A partnership agreement is a contract between a company and a partner who will promote it. It sets out the terms of cooperation, the rights and obligations of both parties, and the procedure for action in different situations. The purpose of a partnership agreement is to protect the interests of the company and partners at the legal level.
Below we will look at 7 aspects that are important to consider in a partnership agreement. Each of them is backed by thousands of stories of lost money and damaged reputations, so it is better not to neglect these points, even if they seem unimportant.
2. Using promotional codes and discounts
Discounts and promo codes help attract new customers. However, it should not be that the partner himself decided to
offer the client a discount on your product, and then simply confronted you with the fact that the client will come, but
he needs to be given a discount. Either the business will be forced to give the client a discount, reducing future profits
and damaging the perceived value of the product. Or a conflict will arise. In both cases, the company’s reputation will
suffer.
To avoid such situations, stipulate in the contract that only the b2b email list business can initiate promotions, discounts and issue promo codes, which the partner can then use to attract clients.
You can track which promo codes worked for which partners and what the results were using special services. PRM Online automatically collects statistics on the use of promo codes, which is visible to both businesses and partners. There is no need to waste time on reports and there will be no errors.
3. Third-party partnerships
If your affiliate partners with one of your direct or indirect competitors, it could create a conflict of interest. To protect your company from such situations, include a clause in your agreement prohibiting you from working with competitors or companies whose values conflict with yours.
You can list “by name” known competitors, and for the what it is and how it can impact your business rest, create a detailed portrait: type of activity, positioning and other parameters. The more accurate the description, the better your interests are protected.
4. Promotion methods
On the one hand, all means are good if they work. But paid advertising from a partner, for example, can compete with your advertising campaigns, which harms the final results.
It is better to immediately specify in the partnership australia cell numbers agreement the channels through which partners can promote your products. Blogs, social networks, email newsletters – these can be any tools that are acceptable in your company and that will not create artificial competition for you.