Using Metrics to Set Up Your Partners for Success

    Tracking partner performance can get messy.


    Are you still tracking partner performance through a mess of email updates, Excel spreadsheets, and phone conversations? Our customers have told us how frustrating it can be investing time, energy and attention into this repetitive aspect of partner relationship management. The worst part? Despite your team’s best efforts, you may still be missing critical detailswhen mining multiple communication threads for partner success data.

     

    More Self Service, Less Error

    Self-service partner performance data
    Manually collating information is prone to human error which can degrade your data and paint an inaccurate picture of your partner’s performance. Consider a Partner Relationship Management Community that enables your partners to submit, update and even collaborate on their own data online. By enabling self-service data entry and visibility you significantly reduce the risk of overlooking critical information while freeing up your account managers to support partners more effectively.
     

       A PRM community lets your Partners input data such as:
     

    • Qualified business opportunities in their pipeline with forecasted revenue

    • Completed e-training and testing

    • How many certified sales, support and professional services employees they have

    • End-user project metrics, such as time-to-completion and customer satisfaction

    • Inventory levels for products like devices, parts or units

    • Geographical locations of customers, event attendees or corporate or satellite offices 

       

    Analytics For Asset and Resource Planning

    Informed asset and resource planning
    By encouraging your partners to track and update their own activity your team gains up-to-date and accurate insights into your channel program. When partners can update their pipeline forecast data, product requests and project information, it helps your management team collaborate and make informed decisions regarding:  

     

    • Which partners should receive market development funds

    • Manufacturing volumes for specific products and accessories

    • Research and development investment priorities

    • Which partners need coaching and which deserve recognition

    • Capital purchases or hiring based on committed and recognized pipeline revenue

    • Whether the product needs multilingual packaging or copy and whether industry-specific marketing should be generated

    • Which partner training courses should be updated, eliminated or promoted to the channel
       

     

    Analytics for Prospecting

    Prospecting using analytics
    Website traffic analytics can give you insights into where in the world/on the Internet, your traffic is coming from. There’s no need to purchase a separate reporting application and there aren’t any complex technical programming or database administration skills requirements. In a PRM Community, out of the box reports can help you track user activity, portal traffic (from Google Analytics) and system status to give you insights on:
     

    • Where partner recruitment opportunities might exist

    • The devices your partners are using to access your PRM community

    • How potential customers and prospects are finding your website based on keywords and inbound links

    • The specific product, partner program and support pages which are receiving a high volume of views. A high volume of support page views may reflect a product issue.


    Knowing how your partners are accessing, navigating and using your PRM community can help you prioritize your content generation efforts. You and your team will be able to create the support and marketing content your partners are looking for based on informed discussion. 


     

    Rapid Reporting

    Dynamic and rapid performance reporting

    Regardless of how much fresh and accurate data you are receiving from partners, it will end up collecting dust instead of powering your channel program if you can't easily format, analyze, and share it. Using a PRM Community reporting module, you can utilize the data from your CRM to create and evaluate metrics specific to your unique business processes. To regularly examine this business information you need reports and visual charts that are easy to configure and generate. Look for reporting functions that make it easy to:

     

    • Select and filter entity data such as Accounts, Contacts, and Opportunities

    • Configure how and where data visualizations and reports are presented to PRM portal users

    • Set access permissions for users to view and build reports
       

    By enabling your partners to access and update reports and records in your PRM community, you will be able to make educated decisions based on current, accurate and complete information. Additionally, you will eliminate many communications bottlenecks like voicemail tag or the 9 to 5 reply window.

     

    A mobile-optimized, CRM integrated, self-service PRM Community where your partners can engage and collaborate with you on deals will help keep communication tidy and trackable. Implementing metrics and monitoring them with your partners will result in informed, goal-based selling that may be the difference between good channel sales and exceptional channel participation.
     

    Do you feel like you have good insight into the vitality of your partner channel programs? If you see room for improvement, check out our short tutorial videos to see how you can quickly configure powerful dashboards and intuitive reports. If you have questions, please contact us. We’d love to hear from you.
     


     

    Learn More about Magentix PRM!

    « Previous ArticleNext Article »

    Comments

    Your Comment:

    Email address is not displayed with comment.

    About the Author

    Looking for Something?

    Subscription

    Follow Company Blog posts
    Please enter your email address to subscribe:

    Email:
    Subscribe

    Want to learn more?

    Follow Us on Facebook

    Magentrix on Twitter

    What's Magentrix?