5 Partnership Manager KPIs to track
Number of partners
One of the first KPI to track. This measures how many partners have been secured.
Revenue through partners
This can be tracked at base, progressive and advanced level. Base level would be the revenue from partner purchasing or re-selling. Progressive level would be revenue sourced by partners, while Advanced level would be the influence of the partner at various stages of a sales cycle.
Number of deal registrations
This can refer to the number of active deals in the system. Related metrics include average deal size and close to win ratio.
Number of people trained
Many vendors require a certain number of partner people trained or certified to progress up the program level. This metric also shows the commitment of a partner. Correlate people trained with deal-close timing and to customer satisfaction to get a better sense of trained partners' performances.
Partner satisfaction
Gain feedback from partners by creating; a formal survey with multiple questions and anonymous responses tabulated in a NetPromoter Score format, quarterly business review sessions, one-on-one discussions with the executive team, Partner Advisory Council meetings, or informal discussions through the Channel Account Manager
No-risk talents
We supply professionals proficient in software development, management consulting, data analytics, UI/UX, digital marketing, channel partnerships, financial management, project and product management, from our largely Singapore-based talent pool. Each talent is selected for their subject matter expertise and their experience working in managed teams. All talents come with a risk-free trial period so that you can ascertain their capability prior to starting officially.The benefits of using channel partners
1. Leverage their capabilities and relationships
Get to know key decision-makers quickly through someone who already has a connection with them. The right kinds of channel partners are already embedded neatly among your target audience but you have to find them. Once you do, approach decision makers and sell your products through them, and you are bound to notice an increase in your sales.
2. Lower customer acquisition cost
You can reduce your customer acquisition costs through channel partners.
One of the greatest costs which you may be encountering is spending time and focusing on the wrong opportunities. It is quite a challenge to determine promising leads and then prioritize them. A channel partner can help you identify worthy leads and even put you in touch with them.
3. Accelerate your acquisition process
Generally, channel partners already have relationships set up with potential customers. When they reach out to them on your behalf, you get feedback faster, which allows you to qualify the opportunity and meet their needs more quickly.
Thus, you can close the deal in a lesser amount of time.
4. Increase your market reach
Going to new markets is a big investment that means bigger teams and the need for funds. With channel partners, all you need is just a contract, and in a short time, they’ll be selling for you in markets where they are already present. Choose credible partners, and then use their influence to engage new markets faster.
Thus, this approach lets you gain access to new markets in only a fraction of the times and costs involved with setting up your own direct sales team.
5. Become a market leader
You lead a market when you dominate it. And for that, you need to capture most of the shares. Approach the strong players, who are already well spread out, and then build a network of influential brands. The more channel partners that you have on your side, the more you can spread out your wings.
6. Increase shareholder's value
When you expand your reach within markets, you increase the potential of your company, contributing to greater shareholder value.
