It is better to immediately specify in the partnership 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 Your company may be promoted competition for you.
5. Updating the Agreement
It is important to review and update the terms of cooperation. We recommend doing this once a year, but you can do it more often if circumstances require it. Add a clause to the partnership agreement about how and when it will be updated so that it does not come as a surprise to affiliates.
6. Form of business of the partner
Your company may be promoted by a self-employed person,Your company may be promoted an individual entrepreneur, or another type of legal entity. The agreement must specify what type of business the partner has — the details of the cooperation and the laws that regulate it depend on this. If you use one template and simply change the details in it, you may end up with non-working agreements that simply do not comply with the law.
7. Payment policy and bonuses
The amount, terms and conditions of receiving rewards c level executive list should be as transparent as possible. Specify the payment model, indicate hold periods or specific payment dates, as well as how and when you will evaluate the partner’s performance.
If you plan to motivate partners with bonuses, it is also important to indicate their size and accrual conditions. These can be fixed amounts, percentages of sales, or other incentives for achieving target indicators.
If you use a system for working with partners such as PRM Online , you can specify in the agreement that the system will automatically record the partner’s results and payments will be calculated automatically based on these results.
If the results are clearly recorded and there is no human are phone numbers public records factor in calculating rewards, partners are more willing to bring in new clients , as they feel safe and motivated. And the business, in turn, does not need to spend a lot of time monitoring the correctness of the amount and timing of payments to partners.
What else is important to discuss with your partner in advance?
How to end cooperation
To avoid unexpected situations, write down in which cases the agreement can be terminated. For example:
- Breach of agreement – if one of the parties fails to fulfill its obligations.
- Change of strategy – if the company changes australia cell numbers course and no longer needs a partner.
- Lack of results – if the partner’s activities do not bring any benefits within the agreed period.
Specify how many days’ notice is required (for example, 30 or 60), as well as when and what payments the partner receives in this case.