Can i have the replyto email be someones email outside of our company? We would like to send an email on behalf of a wholesaler. I am guessing i shouldn't make the "from email address" theirs but wondered if having the replyto email theirs would cause any issues?
You can use any address for the "reply-to" or "from" email addresses. Just know that this could negatively impact your deliverability. Ideally these addresses should share the same domain as your tracking/sending domain.
I wouldn't worry about deliverability: there won't be a substantive difference if you make sure that DKIM is in place for the From and Reply-To: domains (and you might as well have them both be the same domain, since semantically if you are sending "on behalf of" the wholesaler they are the From: as well as the Reply-To).
It's also worth pointing out that different email server aren't consistent in their use of "reply" and "from". If someone clicks "reply" in the email, some platforms use the "reply-to" address and others use the "from". So like Sandy mentions, these should always be the same.
How do I set up dkim? Would the wholesaler just need to confirm the email or is it more complex than that?
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Exactly! To echo some of the points above, I wouldn't be too concerned about this impacting the deliverabilty. I also would be sure to think through what email address you are using bc people usually forget to think about autoresponses.