Only by using a dedicated platform can your business hope to gain exemplary marketing opportunities from their partner funds.
Your business is in a state of constant evolution. If you are not consistently retrieving new ways to manage your lead generation skills, are you even really still in business? Those that want to survive will move with the times. Those that don’t move with the times, tend not to survive. The most recent example of this was in the mass mobilization towards the digital marketplace during Covid-19 [i]. Partner funds management platforms help you capture that momentum and keep it going, even while you oversee the day-to-day operations.
Let’s discuss partner funds and how the platforms that support them can help your business discover new leads and opportunities.
What’s a Partner Fund Management Platform?
Let’s start with the basics. We need to know what a partner fund management platform is before we can move on to discussing the opportunities it drives towards your organization. A partner fund management platform is an online digital workspace that facilitates the project team and needs of both members of a co-selling partnership. The fund is set up either by both partners contributing towards a startup pool of cash, or it is incentive-driven. In the latter model, the fund accrues when the partnership is productive.
Whichever way you set it up, a partner fund management platform lets both partners have an equal standing in one new arrangement. The platform comes with a set of unique advantages. For example, it ensures data compliance, encourages an ecosystem of trust and respect, and leads to co-solutions which drive profitability of the co-selling arrangement.
To learn more about how WorkSpan partner funds management platforms help businesses drive new market opportunities, click here.
How Partner Fund Management Platforms Drive Revenue to Businesses?
Partner fund management platforms allow you to integrate all of your co-selling partner projects, teams, sales, and opportunities into one place. Just like using one platform to collate all of your cloud computing tasks can help you boost productivity, so too can a partner fund management platform help you keep track of comings and goings to any co-selling projects your business has involvement in.
These funds operate in a variety of ways. You and the partner business might contribute towards it from the outset in a Big Bet Fund, to encourage collaboration in start-up and idea generation aspects of your market. You might even start with a small fund that feeds itself proportionately, depending on how much business it attracts to itself. This way, team members are encouraged to be successful through incentivized rewards. If the project does well, the fund grows. If it does poorly, they have less to speculate on new projects.
Collaborative efforts like this allow both parties to generate interest in one another’s branding. By working together, you can identify areas of your market or sector that you previously hadn’t tapped into yet. You gain referrals from them, and they gain referrals from you. When used correctly, the partner fund management platform facilitates all of this and more. You just have to make that initial investment to get it off the ground.