In an ideal world, partners bring you business that you would otherwise not be able to win on your own.
This begs the question: Do you know with complete certainty that your partners are driving sales for you? Or is your company actually sending business their way without getting anything in return?
If you want to take your channel to the next level, you need to understand exactly how much influence your partners have on deals. In doing so, it will be that much easier to understand which partner leads to pursue and how to allocate your resources in a way that best optimizes your channel.
The Importance of Measuring Partner Influence
When you know which partners are helping your business the most, it becomes that much easier to grow your operation.
The more visibility you have into your partner ecosystem, the easier it will be to determine precisely which partners are helping you reach new customers, tap into new markets, build brand awareness, and establish your brand as a trustworthy vendor to a whole new slate of people.
On the flip side, when you lack visibility into your partner ecosystem, you’re much likelier to make suboptimal decisions. For example, if your channel managers spend too much time engaging with partners that aren’t fulfilling their end of the deal, you might end up investing your market development funds (MDF) in these less impactful partners when those dollars could be better spent elsewhere.
By now, you are probably nodding along with these words. But you might be wondering how, specifically, you can bring the requisite level of transparency to your partner ecosystem to ensure you’re making the best decisions with your resources.
After all, there are only so many hours in the day, and you don’t have the time needed to manually sort through piles of data to figure things out by yourself.
The Easiest Way to See Which Partners are Driving Deals
We might be a bit biased, but we believe that Vartopia gives channel managers the easiest way to find out which partners are influencing which deals—and by how much.
With Vartopia, you can:
- Uncover the key metrics that separate the top performers from the bottom rung to figure out where you should focus your attention—and which partners you might have to reconsider working with in the first place.
- Determine which partners are underperforming by taking a look at who regularly asks for extensions, needs reminders, or doesn’t adhere to SLAs.
- Attribute every dollar of your MDF to deal registration and campaigns to make sure you invest your finite marketing dollars as effectively as you possibly can.
- Maintain a single source of truth for all of your channel data, making it easier to track key performance indicators by shattering data silos and ensuring everyone is on the same page.
It’s Not Just About Adding More Partners
It is not uncommon for channel managers to think that they can achieve their goals simply by onboarding as many new partners as they possibly can.
But what happens when the bulk of those partners aren’t pulling their proverbial weight?
Instead of focusing on onboarding more and more partners, you need to focus on onboarding the right ones. That way, it’ll be easy to determine the highest-value partner leads.
But your work doesn’t stop there, either.
Once you identify who the top-performing partners are, you need to do everything you can to incentivize them to stick around.
Not sure where to start? We’ve got you covered.
Request a demo of Vartopia today to learn more about the easiest way to gain end-to-end visibility across your entire partner ecosystem—making it that much easier for you to figure out which partners to nurture and which to kick to the curb.