Partnerships Glossary
Your guide to partner program terminology and concepts. Clear definitions and explanations for all the key terms you need to know.
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What is a Hurdle Rate? A hurdle rate is the minimum rate of return that a company or investor expects to earn on a project or investment. If a proposed project's expected return is below the hurdle rate, it will be rejected. The hurdle rate is usually set based on the level of risk involved; a risk
What is Hybrid Model? A hybrid model, in the context of sales, is when a company uses a combination of different sales channels to reach its customers. The most common hybrid model is a mix of a direct sales team and an indirect channel sales program. The direct team might focus on large, strategic
What is an Ideal Customer Profile (ICP)? An Ideal Customer Profile, or ICP, is a detailed description of the perfect customer for your business. It's not a real person, but a fictional company that has all the characteristics that make them a great fit for your product or service. This includes thi
What is Inbound Marketing? Inbound marketing is a strategy focused on attracting customers by creating valuable content and experiences that are tailored to them. It's the opposite of outbound marketing, where you push your message out to a broad audience. Inbound is all about drawing people in. Th
What is an Incentive? An incentive is a reward that is offered to motivate a specific action or behavior. In a partner program, incentives are used to encourage partners to sell more and be more engaged. The most common incentive is a sales commission, but there are many others. A SPIFF (Sales Perf
What is an Incubator? An incubator is an organisation that helps very early-stage startups and new companies to get off the ground. They provide resources like office space, mentorship, and access to a network of other entrepreneurs and investors. Incubators are focused on the very beginning of a c
What is an Independent Software Vendor (ISV)? An Independent Software Vendor, or ISV, is a company that develops and sells its own software products. They are "independent" because they are not owned by a hardware manufacturer or a larger software platform. ISVs are a huge part of the technology ec
What are Indirect Sales? Indirect Sales is another term for channel sales. It's a sales strategy where a company sells its products through third-party partners, rather than directly to the end customer. These partners act as the intermediary. This model allows a company to leverage the reach, rela
What is an Influencer? An influencer is an individual who has the power to affect the purchasing decisions of others because of their authority, knowledge, position, or relationship with their audience. They typically have a dedicated following in a specific niche, like fashion, gaming, or B2B tech
What is Initial Public Offering (IPO)? An Initial Public Offering, or IPO, is the process by which a private company becomes a publicly traded company by selling shares of its stock to the public for the first time. It's a major milestone for a company and a common exit strategy for its founders a
What is Integration? In the tech world, an integration is a connection between two or more software applications that allows them to share data and work together. For example, integrating your PRM with your CRM allows lead information to flow automatically between the two systems. Technology partne
What is Intellectual Property (IP)? Intellectual Property, or IP, refers to creations of the mind, such as inventions, literary and artistic works, designs, and symbols, names, and images used in commerce. The main types of IP are patents, copyrights, and trademarks. In a partnership agreement, it
What is Jargon? Jargon refers to the specialized words and phrases that are used by people in a particular profession or group and are often difficult for others to understand. Every industry has its own jargon, and the world of partner sales is no exception. This very glossary is a tool to help pe
What is Joint Business Plan? A joint business plan is a formal document that is created by a vendor and a strategic partner to outline their shared goals and the plan for how they will achieve them. It's a roadmap for the partnership. A good joint business plan includes specific, measurable object
What is a Joint Venture (JV)? A joint venture is a specific type of strategic alliance where two or more companies create a brand new, legally separate business entity. The parent companies contribute resources to the JV and share in its revenues, expenses, and control. A JV is a more formal and le
What is Journey (Customer/Partner)? The concept of a "journey" is used to map out the entire lifecycle of a relationship from the customer's or partner's perspective. A customer journey map visualizes all the touchpoints a customer has with a company, from initial awareness to post-purchase support
What is a Key Account? A key account is one of a company's most important and valuable customers. These are typically large, strategic customers who generate a significant amount of revenue or have a major influence in their industry. Companies often have a dedicated "key account manager" whose job
What is a Key Performance Indicator (KPI) A Key Performance Indicator, or KPI, is a measurable value that shows how effectively a company is achieving its key business objectives. KPIs are the critical metrics that you track to see if you are on the right path. For a partner program, important KPIs
What is a Kick-off Meeting? A kick-off meeting is the first official meeting between the key stakeholders at the start of a new project or partnership. The purpose of the meeting is to get everyone on the same page and set the stage for a successful collaboration. A good kick-off meeting will cover
What is Knowledge Base? A knowledge base is a centralised online library of information about a product, service, or topic. It's a self-service resource where customers or partners can find answers to their questions without having to contact a support person. A knowledge base can include articles,
What is Last-Touch Attribution? Last-touch attribution is the opposite of the first-touch model. It gives 100% of the credit for a sale to the very last marketing touchpoint a customer interacted with before converting. For example, if a customer reads a partner's blog post, then sees a few social
What is a Launch? A launch is the official debut of a new product, service, or program. It's the moment you introduce it to the market. A launch can be a "hard launch," with a lot of marketing fanfare, or a "soft launch," with a more quiet, phased rollout. For a partner program, a successful launch
What is a Lead? A lead is any person or company that has shown some level of interest in your product or service. They are a potential customer. That interest could be shown by filling out a form on your website, downloading an ebook, or visiting your booth at a trade show. Not all leads are creat
What is Lead Generation? Lead generation is the process of attracting and capturing the interest of potential customers with the goal of developing a sales pipeline. It's the first and arguably most important step in any sales process. Lead generation activities can include content marketing, paid
