{"id":10341,"date":"2018-06-06T19:00:09","date_gmt":"2018-06-06T16:00:09","guid":{"rendered":"https:\/\/www.talentlms.com\/blog\/?p=10341"},"modified":"2018-06-11T10:15:35","modified_gmt":"2018-06-11T07:15:35","slug":"kpis-measure-channel-partner-training-success","status":"publish","type":"post","link":"https:\/\/www.talentlms.com\/blog\/kpis-measure-channel-partner-training-success\/","title":{"rendered":"The KPIs to Measure Channel Partner Training Success"},"content":{"rendered":"

Channel partners are the face of your products and services. They are your representatives, franchisees, vendors, consultants, resellers, contractors, and distributors and – depending on the success of their training \u2013 they can win (or lose) clients.<\/p>\n

But how do you measure training success? With these top metrics.<\/p>\n

Your Top Partner Enablement KPIs for Training<\/h2>\n

Track these key metrics to make sure that channel partner training is time and cost-effective for both you and your partners:<\/p>\n

1) Changes in the number of partners
\n2) Revenue sourced through partners
\n3) Partner influence at each stage of the sales cycle
\n4)\u00a0Number of deals registered
\n5)\u00a0The size of the average deal closed
\n6)\u00a0Average time to close deals
\n7)\u00a0Number of courses attended per partner
\n8)\u00a0Customer satisfaction with partners
\n9)\u00a0Partner satisfaction<\/p>\n

Let’s have a look at each individually:<\/p>\n

1) Changes in the number of partners<\/h3>\n

Start by knowing how many partners you have in your channel ecosystem. Depending on your business, this could be dozens or even hundreds.<\/p>\n

While it\u2019s important to keep sight of the size of your channel partner pool, you should also know that having a large number of partners is not a measure of quality or effectiveness. Rather, a significant change in numbers (many partners gained or lost) can be an indication of partner satisfaction – including<\/em> satisfaction with training<\/em>!<\/p>\n

2) Revenue sourced from partners<\/h3>\n

Knowing what kind of return on investment you\u2019re getting per individual channel partner is key to successful partner enablement. How so?<\/p>\n

Well, changes in the revenue generated through partners can be a good indication of whether they need more training (reduced revenue) or whether training has practically improved their performance with clients (increased revenue).<\/p>\n

3) Partner influence at each stage of the sales cycle<\/h3>\n

Where are your partners making the most difference? And where do you need them to do more?<\/p>\n

Map out your sales cycle, and then plot the role of partners at each stage. Typically, the five stages of the sales cycle are:<\/p>\n

1) generate leads
\n2) qualify leads
\n3) demonstrate value
\n4) guide prospects\u2019 understanding
\n5) deliver value and support<\/p>\n

Once you have a clear view of when and how partners influence the sales cycle, ask yourself this: \u201cHow can training improve performance in the stages that are driven by channel partners?\u201d<\/p>\n

4) Number of deals registered<\/h3>\n

This might sound like one of the more obvious partner enablement KPIs. Still, it\u2019s important to remember that the number of deals registered is not a complete measure of overall partner success.<\/p>\n

Sometimes, deals are registered but not closed. Other deals are registered and closed, but they\u2019re too small to make much of a difference to revenue. It\u2019s also best practice to track active deals only. In other words, those that have recently moved to the next stage of the sales cycle.<\/p>\n

5) The size of the average deal closed<\/h3>\n

This one relates directly to partner enablement ROI because if partners are closing large deals that bring in worthwhile revenue, you know that your training is paying off.<\/p>\n

On the other hand, if partners can\u2019t manage to move past the \u201csmall fry\u201d, you might just need to take a closer look at what you\u2019re missing in your channel partner training.<\/p>\n

\"The<\/p>\n

6) Average time to close deals<\/h3>\n

The question is simple \u2013 do partners seal the deal in less time after they\u2019ve received training?<\/p>\n

The average time spent closing a deal tells you how comfortable your partners are with moving through the sales cycle. It also indicates whether or not their product knowledge is up to scratch, and if they\u2019re working well with the internal team.<\/p>\n

If closing time isn\u2019t speedy enough, or they\u2019re losing clients due to an extended sales cycle, then it\u2019s best to look at your other partner enablement KPIs to determine where the training gap may lie.<\/p>\n

7) Number of courses attended per partner<\/h3>\n

How many of your training courses has each partner attended? This basic metric gives you an idea of partner commitment, and whether partners are taking advantage of the training opportunities you\u2019re offering.<\/p>\n

Remember that a partner enablement program is only effective if partners are actually participating in it. If partners aren\u2019t using opportunities for training, try running a survey to discover what\u2019s holding them back.<\/p>\n

8) Customer satisfaction with partners<\/h3>\n

This is one of the partner enablement KPIs that is often only tracked for bigger partners, or on a ‘time-to-time’ basis. But it\u2019s critical that customer satisfaction is tracked for all partners, even on smaller accounts. Because a whole lot of \u201csmalls\u201d can make a big difference to revenue!<\/p>\n

Track whether partners are effectively marketing and selling to customers, and supporting them with a high-quality service experience. After all, attracting and securing many new customers will just harm your brand\u2019s reputation if they all have a negative experience.<\/p>\n

9) Partner satisfaction<\/h3>\n

Partner enablement programs shouldn\u2019t overlook the happiness of the partners themselves. Because satisfied partners are far more likely to close deals and keep customers happy.<\/p>\n

You can track partners\u2019 satisfaction with partnership rewards, communications, training, and support by incorporating surveys into quarterly reviews. Robust feedback from channel partners will help you design training programs that meet all their needs.<\/p>\n

KPIs: Only one side of the partner enablement coin<\/h3>\n

Measuring partner performance and satisfaction is all you need for effective partner enablement, right? Not so much.<\/em><\/p>\n

Channel partners have many demands on their time and attention, including closing deals for you and keeping your customers happy. So, training programs need to offer them value without being inconvenient or difficult to complete.<\/p>\n

Leverage a powerful LMS to train your channel partners online<\/strong><\/a> and pay close attention to mobile learning features<\/strong><\/a> that make learning that more convenient. Choose an LMS with the power to foster a collaborative \u201cteam\u201d vibe, despite partners being geographically dispersed – like webinars. Creating bite-sized learning chunks, like short videos and infographics, can also enable just-in-time training and motivate course completion.<\/p>\n

Finally, use different types of content<\/strong><\/a> formats, like gifs, infographics, and assessments, to appeal to different learning preferences. This will ward off boredom and stimulate training engagement.<\/p>\n

Combine partner enablement KPIs with the best in online learning<\/h2>\n

Use KPIs to track how your partners are doing after training, what training they still need, and how engaged they are with your training program. Then, use a top-of-the-line LMS to provide training that meets their needs and preferences, without interfering with their workflow.<\/p>\n

With the insights gained through measurement and the flexibility offered by a great learning platform, you\u2019ll see your partnership ROI soar.<\/p>\n","protected":false},"excerpt":{"rendered":"

Channel partners are the face of your products and services. They are your representatives, franchisees, vendors, consultants, resellers, contractors, and distributors and – depending on the success of their training \u2013 they can win (or lose) clients. But how do you measure training success? With these top metrics.<\/p>\n","protected":false},"author":9,"featured_media":10352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[221],"tags":[],"class_list":["post-10341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-instructional-design"],"acf":[],"yoast_head":"\nThe KPIs to Measure Channel Partner Training Success - TalentLMS Blog<\/title>\n<meta name=\"description\" content=\"Your channel partners can have a significant impact on your business prosperity, so giving enough attention to their training is obligatory. 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