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Measure partner ecosystem performance - Partnership Leaders
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Are the resources valuable and up-to-date? Solicit feedback to understand what your partners need and update your offerings accordingly. “Provide orientation sessions, introductory meetings, and a clear roadmap for success to ensure partners are well-equipped from the start.” Report all this data back to the partner monthly since this is a tell-tale indicator of the partner sellers’ optimism regarding the partnership.
High engagement means more productive collaborations and better outcomes. So lead the charge by actively using your tools to keep partners engaged. “When you’re not meeting with partners, you can opt for injecting valuable resources into your partner portal and keep them updated, such as:” Incentivizing them with rewards can also help you boost training completion, webinar attendance, or milestone achievements.
Revenue metrics are the lifeblood of any partnership program. They directly show the financial impact of your efforts. This includes a range of metrics that gives a thorough view of how partnerships are contributing to your bottomline, including: “Partner-Sourced Revenue: Revenue generated directly through partner referrals or sales.” Influenced Revenue: Revenue where partners played a role in closing the deal, even if they didn’t generate the initial lead.
Partner-Sourced Revenue: Revenue generated directly through partner referrals or sales. “Influenced Revenue: Revenue where partners played a role in closing the deal, even if they didn’t generate the initial lead.” Pipeline Value: The total value of deals in the pipeline attributed to partners.
Influenced Revenue: Revenue where partners played a role in closing the deal, even if they didn’t generate the initial lead. “Pipeline Value: The total value of deals in the pipeline attributed to partners.” Revenue Growth Rate: The rate at which revenue from partnerships is growing over time.
Track partner-sourced revenue to help you identify your top performers and allocate more resources to support them. Monitoring influenced revenue now helps you understand the broader impact of your partners on your sales process. “However, some industries, markets, and company sizes may require more nuance when monitoring revenue metrics.” “For the right partners, starting with influenced revenue can then build the flywheel for sourced revenue, if done right,” said Gautham Pandiyan, VP of Partner Ecosystem Growth Acceleration at Qualtrics. “Wins breed wins.”
Here’s how it works: “Track partner-sourced revenue to help you identify your top performers and allocate more resources to support them.” However, some industries, markets, and company sizes may require more nuance when monitoring revenue metrics.
Adapted fromGreg Portnoy’s session. “Without the right metrics, it’s impossible to know what’s working and what needs improvement.” This guide will help you turn your partnership data into actionable insights and communicate them effectively. Featuring insights from Greg Portnoy’s (CEO & Co-Founder, EULER) session on “Success Metrics: Critical KPIs and How to Track Them,” we’ll explore best practices and strategies for a thriving partner ecosystem.
“For the right partners, starting with influenced revenue can then build the flywheel for sourced revenue, if done right,” said Gautham Pandiyan, VP of Partner Ecosystem Growth Acceleration at Qualtrics. “Wins breed wins.” “Pipeline value then shows the potential revenue from partner-sourced and partner-influenced revenue.” 2. Engagement
Partner Attach Rate: The percentage of deals that involve partner participation, reflecting the depth of partner engagement in the sales engagement. “Funnel Conversion Rates: The percentage of leads from partners that convert into sales.” If your funnel conversion for partner leads is lower than those from direct channels, it may signal a need for better training and support for your partners.
Funnel Conversion Rates: The percentage of leads from partners that convert into sales. “If your funnel conversion for partner leads is lower than those from direct channels, it may signal a need for better training and support for your partners.” Win Rates vs. Direct Channels: Comparing the success rate of partner-led deals to those from direct sales efforts.
Deal registrations are the number of deals registered by partners. According to Jen Waltz, Founding VP, Global Alternate Channels at Kron Technologies, you can use this metric to assess the effectiveness of your co-sell efforts and joint account mapping. “On the other hand, leads generated through joint marketing efforts help you measure the success of GTM engagement and partnership impact on lead development.” Understanding engagement levels helps you tailor strategies to foster deeper relationships and ensure partners are well-equipped to contribute effectively. If you notice a drop in partner logins and activity, it’s time to re-evaluate your partner portal content.
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