How to measure success 🏆 in #partnerships is always a top of mind question. And while the tech industry is rapidly evolving, this old playbook still contains a lot of insights.
You can adjust this to your business, but here is what we typically see in the field.
💰 😊 Companies typically start with lagging indicators
✔️ Assess partner-led revenue
Absolute number, actual vs forecast, performance b/w partners
✔️ Then evaluate partnership’s influence on customer satisfaction
Often higher stickiness/retention could be MUCH more valuable than additional revenue short term
💯 Then they track leading indicators
✔️ Operational KPIs - that’s why it’s a good idea to agree on them with your partners in the first place
Events/webinars conducted, joint marketing campaigns launched
SDR trained, joint sales calls held
Integration progress, API calls, etc.
✔️ And finally review partner satisfaction and the dynamic of relationship
Are partners engaged and happy, are they increasing or decreasing the scope of collaboration across all dimensions?
💡 What do you measure?