Tracking your channel partners’ success might feel a bit like peering into a crystal ball. This is frequently caused by a lack of data and information. In certain circumstances, you may have the data, but it is difficult to work with.
Channel program is a large investment with the potential for a large payout, however, to realize such returns, a channel manager cannot take a hands-off approach. Keeping an eye on analytics to see how channel partners are performing and taking appropriate measures are crucial tasks. With a multitude of next-generation tool suites offering the ability to capture and analyze data, a myriad of new key performance indicators (KPIs) is developing to evaluate partner program success and serve as an analytics-based basis for boosting development.
What should channel managers prioritize when they sit behind that control panel, evaluating partner statistical results and deciding how to proceed? The five-partner program KPIs listed below are some of the most critical to track and, when studied collectively, may provide a complete picture of whether a channel is on the correct track to recurring income.
List of Channel Partner Performance Metrics to Track
Total Revenue For each Partner
This is nearly comparable to the frequently used revenue-per-channel partner metric. When you conduct this study, you will notice that productivity differs substantially amongst the top, medium, and entry-level partners. Tracking revenues on a dynamic basis is a vital first step toward enhancing the engagement of sales.
Analysis of Revenue Mix
This is done mostly by product line, locality, and territory. Most businesses utilize this data solely for market share analyses, but by directly correlating it with other partners’ input and output indicators, you may gain a complete picture of partner activities and capabilities.
Partner Satisfaction
In addition to end-user satisfaction, you must understand where your partners stand with respect to your goods, services, and support. Because your competition is always changing, it’s never safe to assume that your partner base will feel the same from one quarter to the next. This insight is critical to your capacity to properly target your channel marketing and sales efforts in order to achieve the best outcomes. Even a basic integrated survey tool will assist you in systematically capturing your partners’ perspectives.
Revenue Growth Rate
This is a relatively high measure that you must monitor to evaluate how your channel partners are expanding across your various product lines. Partner level, product type, and geographical location are among the variables. The data generated allows you to make strategic resource modifications to get better results.
Active Resellers as a Percentage
Most businesses, regardless of whether they utilize a broad-focused channel sales strategy, must cope with substantial differences in sales per partner. It is tough to determine what proportion of your channel partners have made consistent sales for the preceding four quarters. Understanding this will help to realign your incentive programs and raise your future sales.
Try using a platform like Zaggle Propel to measure your channel partner program KPIs with maximum precision and efficiency. This allows you to measure interaction automatically, unify your program pipelines, and automate partner onboarding.
Schedule a demo now to learn more about how Zaggle Propel can help you evaluate and improve your partner channel performance indicators!
