Channel Analytics Objectives
Technology channel organizations, take stock! It’s time to assess the current state of your analytics capabilities and define goals and objectives in terms of future requirements. These four objectives that are essential to developing a sound channel analytics practice:
- Create relevant data
- Create a customized 360-degree view of your partners from disparate data sources throughout your organization. Aggregate, clean, and verify the data to create a relevant foundation from which to understand partner and program behavior.
- Leverage behavior
- Use data mining and advanced statistical methodologies to build a complete understanding of your partner’s behavior and potential value.
- Deliver marketing stimuli
- Leverage intelligence to deliver end-to-end multi-channel tactics.
- Enable decision making
- Provide measurement, reporting and analysis to ensure that you capture and leverage learnings for your organization.
Evolve from Operational Metrics to Analytics Insights
Are you just starting an initiative to provide comprehensive global channel reporting and analytics? If so, evolve your capabilities over time. Start with the reporting and dashboarding of operational metrics, followed by quarterly analytics that provide true insights into partner and program performance.
The reporting of operational metrics enables your channel organization to:
- Measure efficiencies of partner program implementation and management, identify operational obstacles, and enhance program governance and operational processes.
- Alert channel management staff to improve operational processes, provide visibility to partners, and increase partner satisfaction.
Making Channel Analytics Work for You
The evolution from operational metrics reporting to dashboarding to channel analytics follows this path:
- Standard Reports: Most technology companies use an in-house or third party partner relationship management (PRM) platform, which is usually integrated with the company’s CRM. Operational metrics reports are provided via the PRM system.
- Operational and Performance Dashboards: These reports are an extension of the standard suite of reports delivered with a PRM system. They are designed to add another dimension to operational metrics by measuring partner and program performance while allowing the user to filter the data and to create their own report views for further analysis.
- Analytics Suite: Quarterly analytics provide insights into partner performance and trends thereby making it possible to identify which partners are trending up or down in performance and how to optimize incentives and other channel investments in the right partners for optimal results. Partners are segmented based upon their value contribution. Programs and incentives are assessed in terms of their contribution to revenues and ROI, resulting in recommendations to shift channel investments for greater optimization.
There is no one-size-fits-all for channel reporting, but there are best practices you can follow to make analytics work for you:
- Make a clear distinction between operational metrics and analytics insight
- Deliver actionable reporting
- Core channel reporting should be uniform across regions so you can create benchmarks
- Allow users to filter and produce their own report views and to conduct analyses that meet their needs.
- Develop and maintain a global data mart for channel reporting and analytics with clearly defined data sources and a high level of data integrity and quality assurance.
- Develop and enhance reporting and analytics capabilities over time to allow for input and buy-in
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