Business Analyze enables organisations to effectively track performance (Partner KPIs) and gain insight into their channel partner relationships.
By providing a simple way to analyze and share data, both Channel Partner Managers and their agents, resellers, distributors or other partners can monitor the activities that lead to success and work proactively to build strong partnerships.
Why channel partner KPIs are important
Companies invest time and effort into finding the right sales partners. Once the stage is set, the relationship must continue to generate clear and measurable value. If partners aren’t regularly reminded how their work generates value, they lose motivation and sales die out.
While this may seem obvious, it’s easier said than done.
A key problem channel managers struggle with is poor visibility into the pipeline. Without being able to see down the pipeline and track change over time, it’s impossible to gauge revenues and assess forecast accuracy.
Partners, on the other hand, may feel that sharing their pipeline is not worth the effort. “What value does it bring?” they ask.
That’s where channel analytics come in:
Channel analytics provide visibility into the relationship and enable partners to see how much value they generate. Transparency and communication is key to building trust.
The benefits of channel analytics include:
- Improved sales processes due to greater visibility into what works and what doesn’t
- Greater transparency in revenue generation and financial compensation
- Increased motivation by providing channels with real-time metrics and commission reports
- Better forecasting accuracy
- Less administrative paperwork with automated reporting
When Channel Managers provide partners with real-time visibility into earnings, partners are more likely to provide quality sales data in return.
Better quality data helps Channel Managers work proactively to help partners close deals. It’s a win-win situation.
What partner KPIs to measure
There are many KPIs and supporting metrics that may be useful in building relationships. Channel Managers define these together with partners based on growth goals and sales strategy.
Some examples include:
- Total and average revenue per partner
- Revenue per product/segment
- Number and value of open sales opportunities
- Number of new opportunities registered
- Lead time and other conversion rates
- Contribution margin
- Sales commission earned
How to measure channel partner KPIs with Business Analyze
Business Analyze collects sales data from spreadsheets, customer relationship management systems (CRM) or other databases and presents reports on live dashboards.
Dashboards make important information about relationship visible and easy to understand – across channels and on channel-by-channel levels. Rather than emailing around spreadsheets, important data is readily available for review and analysis.
Partners access their own information through secure portals. When the underlying data changes, dashboards are updated to ensure partner managers and their partners have the latest insight into sales processes and commissions.
Each dashboard is customized to user requirements.
Start with setting goals
One of the most important steps in successful channel partnerships is to agree clear measurable goals.
Once this is done, you can start capturing data and track performance with Business Analyze.
For more information, contact firstname.lastname@example.org