We all track the hard transactional details of our partners performance – amount of revenue, number of certifications, number of trained sales engineers, deals won/lost, campaigns utilized and many more.
But what should you be tracking to really understand the health of your partner relationships?
Engagement is often a forgotten area as it is difficult to determine appropriate performance indicators. But there are a few that give a strong indication including:
- Content consumption: Seeing what partners are downloading or viewing and for what task in their sales process is key. You will see what’s most valuable and what is not.
- Content subscriptions: Subscriptions will tell you what topics different partners are following in your company. Correlating this with business plan objectives and deals in play will help you know how to better personalize an experience for different partner groups for increased engagement.
- Content recommending and sharing: Seeing that one type of partner or even individual partner company is “liking”, adding collaborators and sharing individual content items with others on their team, is another strong indicator of an engaged partner.
- Training completion: Seeing which partners are completing their training and then registering deals using that learning is a strong indicator of their engagement. Auto-curating promotions and/or lead generation efforts with a partner certification completion status will cement this engagement.
Business growth is usually something left to the partners to track, but increasingly vendors need to be engaging partners in their partners’ business success. Here it’s important to track:
- Deal flow alignment: Tracking that the deals the partners are working are aligned with where they want to grow as a business is key to being a good partner. Seeing this alignment provides guidance in how to better curate an experience so that content, promotions, campaigns and training all come together in the context of these critical partner business objectives.
- Training ROI: Seeing if partners are selling more efficiently (time to close) as a result of investment in certification attainment is very important to both partner and vendor executives.
- Lead uptake and conversion: Examining the speed and conversion of lead uptake will not only lead you to conclusions about the quality of your campaigns, but also the effectiveness of your partners.
Customer satisfaction is really critical to understand how well your partners are working for you. It is particularly important as a key performance indicator as we move into the cloud-based subscription world. Key indicators here are recurring revenue, expanding account footprints, active upsell and cross-sell, etc.