Stay On-Course With A North Star Metric

Posted by Kellie Auman on Nov 28, 2017 10:00:00 AM

We love to keep an eye on blogs from the industry, and particularly those coming out of our partner companies. (It’s a great way to get new ideas!) We were super-excited when we saw this post from Sisense about North Star metrics. We love the concept and, if implemented well, could make it easier than ever to help keep both yourself and your partners on a track to success.

The problem with KPIs, of course, is that they can be difficult to communicate – particularly across a large ecosystem. A North Star metric could potentially get around this problem, if you can properly isolate it.

Topics: Partner Collaboration, kpi, Measuring what matters

Keeping Leads On The Hook: How To Prevent Lost Sales

Posted by Kellie Auman on Nov 14, 2017 10:25:00 AM

When you’re tracking your sales partners’ performance, one of the most critical KPIs you can follow is the lead-conversion ratio. How many leads are actually turning into hard sales? That number is usually lower than a company would like -sometimes much lower- yet it can be hard to pin down why.

In our experience, all too often it’s not really the “fault” of the sales team. There are a lot of factors and ‘moving parts’ happening on the buyer’s side, which can interfere with or even totally derail a sale. Yet, by understanding what’s happening on the buyer’s end, it at least opens up the possibility of preserving some of those leads.

Topics: Channel Marketing Strategy, Marketing Materials, PRM solutions, kpi

Five Critical Factors To Consider When Choosing KPIs

Posted by Kellie Auman on Sep 26, 2017 9:45:00 AM

Channel managers often have questions about setting Key Performance Indicators (KPIs) for their sales channel ecosystem.  It's clear that an indirect-sales ecosystem requires different KPIs than a single-channel direct-sales organization and quite often many KPIs will remain the same.  For example, sales targets are still sales targets.  However, channel sales KPIs should also relate to the ecosystem itself, and be more future-focused as well.  Your KPIs should provide an overview of how your overall partner ecosystem is doing and also provide a sort of road map towards future channel growth. Here, we discuss five critical factors to think about when choosing KPIs.

Topics: Build Your Channel, Increase Channel Sales, kpi, Measuring what matters

The Top Five Wrong & Right KPIs Used By VPs Of Channel Sales

Posted by Seth Jacobsen on Aug 15, 2017 9:25:00 AM

Even the most sophisticated, global, multi-billion-dollar annual sales channel organizations make these same basic mistakes over-and-over again.  Why do they keep choosing the wrong KPIs (Key Performance Indicators) to select, measure, and track their partner’s performance? They do this because they are choosing the “obvious” metrics that, with little thought, appear to be the right ones to focus on.  Unfortunately, these decisions are costing channel organizations millions of dollars in missed growth opportunities and profitability.  Let’s start with the top five worst KPIs to select for your channel organization:

1) Choose the Largest Partners to Recruit: Select the largest partners based on overall revenue.

  • Metric: Focus on the partners with the most salespeople and largest revenue.
  • Why Wrong: The largest partners are also the hardest to gain their attention and commitment and may be less profitable on average vs. smaller partners.

Topics: PRM Best Practices, Partner Collaboration, Channel Marketing Strategy, kpi

Five Tips For Finding The Right KPIs

Posted by Kellie Auman on Jun 1, 2017 12:45:00 PM

Keeping track of the success of your vendor ecosystem can be difficult, particularly as it grows.  A channel manager may be tasked with keeping track of dozens, even hundreds of sales partners.  Even with data-crunching partner management software on your side having a quick overview of how things are running can be very valuable.

Key Performance Indicators (KPIs) are one of the best ways of doing this.  KPIs are hand-picked metrics which are selected specifically because they’re considered a good indicator of overall performance.  An obvious KPI in most cases would be monthly sales numbers. KPIs are often individualistic to a company, however, simply depending on their own short- and long-term goals.  Here are some tips for finding the right KPIs for your ecosystem.

Topics: Sales Productivity, Channel Marketing Strategy, data visualization, kpi, channel marketing

The Challenge - and Opportunity - of Channel KPI's

Posted by Seth Jacobsen on Mar 4, 2016 1:15:00 PM

No matter how well-integrated a partner is in the channel ecosystem, it's impossible for even the most responsible channel manager to keep tabs on their every action. There's always a bit of risk involved with bringing partner businesses into a venture, since more often than not they are independent entities that will prefer to operate at an arms-length. A key component to solidifying a partnership is setting goals and milestones that are measurable and align the business objectives of each party.

Topics: prm, Scale Your Channel, crm, kpi

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