How to measure success ๐ 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.
๐ฐ ๐ Companies typically start with lagging indicators
โ๏ธ Assess partner-led revenue
Absolute number, actual vs forecast, performance b/w partners
โ๏ธ Then evaluate partnershipโs influence on customer satisfaction
Often higher stickiness/retention could be MUCH more valuable than additional revenue short term
๐ฏ Then they track leading indicators
โ๏ธ Operational KPIs - thatโs why itโs 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.
โ๏ธ 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?
๐ก What do you measure?