In our last blog on: Fast-tracking demand in B2B channels in 4 phases-Phase-3, we identified the third of the four phases for fast-tracking demand in B2B channels. The fourth phase is ‘Performance Measurement’, which we will be discussing in our post this week. This phase involves tracking of key metrics in the areas of partner marketing program performance and marketing contribution and is essential to measuring the success of partner programs.
It is now time to look at what REALLY works. Traditionally, partner marketing metrics were looked at from just corporate marketing’s perspective–MQLs, cost per MQL, cost to generate a quote or cost of proposal. But, these don’t really help. These traditional metrics are what we call ‘vanity metrics’.Vanity metrics don’t really serve the purpose. You may have generated leads for your channel partners through various partner marketing and sales activities but, how many of them closed? How many of them actually brought revenue? That is the real measure of marketing success.
To really able to measure the success of your partner program, you need to know what are the key metrics for you in the first place. In the Mindmatrix-SiriusDecisions webinar, Fast-tracking demand in B2B channels, co-hosted by Kathy Contreras, we discussed the following metrics.
The whole idea behind investing in partner program is to help your partners generate more business for you. How is your partner program contributing to the sales pipeline? What is partner marketing’s impact? What’s its role in converting a lead to an opportunity and finally in closing? Tracking key metrics and understanding what works and what doesn’t is really the ONLY way to partner program success.
We hope you enjoyed our 4-part blog series. This series was based on our webinar, Fast-tracking demand in B2B channels, co-hosted with SiriusDecisions. You can watch the entire webinar here.
