Five Channel Performance Metrics to Measure Partner Programs
Measuring the success of your partner program is crucial. In this article, we'll share five key channel performance metrics that can help you measure partner program efficacy.
How do you measure partner channel performance? It’s an essential part of working with the channel so you know what’s working and what’s not. SaaS vendor channel programs have the potential for a big pay-off. But to see those returns, channel managers need to keep an eye on channel sales metrics and partner performance.
Numerous key performance indicators (KPIs) quantify partner program success and offer an analytics-based approach for driving growth. But which ones should you prioritize?
Explore the five essential partner program KPIs you need to measure. By learning what they are, you’ll gain transparency into your channel partners and how they bring in recurring revenue.
Five metrics to assess sales channel success
Review partner program data to create actionable next steps. Measure your channel sales success with the following metrics to identify strengths and opportunities for improvements.
1. Pipeline activity metrics
Gauge your pipeline health metrics to understand what’s working. Measure the following metrics by specific timeframes, such as monthly or quarterly:
- Active pipeline per partner
- Lead generation
- Opportunities from each partner
- Pipeline value, such as deal registrations, applications, or quote requests
- Support requests
2. Enablement engagement metrics
With all the enablement materials and programs you create for your partners, you want to know whether they are using them.
Examine the following metrics to determine enablement engagement:
- Channel portal logins
- Completed engagement training and certifications
- Core-brand training pieces
- Sales and marketing collateral that partners send, use, or download
- Sends, opens, and clicks from communication to partners
3. Active, pending, and inactive partner metrics
You can determine the active state of your partners based on their behavior. With this information, you can:
- Identify issues that stall pending contracts.
- Nudge inactive partners to work toward common revenue goals.
- Reward active partners for bringing in revenue.
Look at the following metrics to measure your partners’ level of activity:
- Conversion rates
- Engagement with your partner portal
- Number of deal registrations
- Partner program abandonment rates
- Partner program enrollment process
- Percent of content engagement
4. Sales metrics
Analyze sales data to improve performance by revealing your channel network’s strengths and weaknesses. Also, enable your channel account managers to forecast and predict sales. These analytics track progress, adjust sales compensation and award incentives, identify strategic issues, and prepare for the future.
Study the following sales metrics:
- Average deal size
- Goal attainment
- Incentive participation
- Partner profitability
- Product adoption measures
- Time-to-close on deals
5. End-client success and experience metrics
Understand the quality of engagement between your channel partners with their end clients in driving customer satisfaction. Regularly measure end-client satisfaction to guide how and where you invest in overcoming partner skills gaps and growing your channel’s strengths.
Factor in the following metrics:
- Client churn rate
- Customer service satisfaction score
- End-client consumption rate
- Net promoter score (NPS)
- Portfolio adoption (upsell and cross-sell)
- Speed of service and usage metrics
Keep on top of your channel partners’ performance metrics
Measuring your channel partners’ performance can feel like asking a Magic 8 Ball for advice. You keep shaking it until you get the answer you want—or in this case, the correct data. Measure your channel partners’ performance on real metrics, not wishful thinking.
Use the channel performance metrics outlined in this post to:
- Audit your sales funnel from initial partner onboarding to revenue generation.
- Better serve end-client needs.
- Improve enablement engagement by empowering your marketing teams to refine partner-oriented content.
- Maintain, increase, or divert partner program spending.
- Motivate inactive partners and incentivize active ones.
- Quantify results and hypothesize new strategies.
With these partner program KPIs, you can better manage your complex web of partnerships and improve your channel program to get results that generate more sales.