The responsibility for establishing Key Performance Indicators (KPIs) for partners can vary greatly depending on an organization's structure and the existing roles related to partnerships. Here are some insights to consider:
Financial KPIs: Metrics such as revenue goals, profit margins, or other financial implications of partnerships generally fall under the purview of those in finance-oriented positions, such as the Chief Financial Officer (CFO) or a dedicated finance team member responsible for budgeting and fiscal planning.
Performance and Operational KPIs: On the other hand, performance-related KPIs, including conversion rates, partner onboarding success rate, and engagement levels, are often established by someone specifically focused on partnership management. This could be the Head of Partnerships or a similar role, charged with overseeing and optimizing the tactical side of partnerships.
In either case, it's important that KPIs are not created in silos. Collaboration between departments, such as finance, sales, and partner management, ensures that the KPIs are comprehensive and align with the overall business goals. Establishing clear KPIs is crucial for maintaining transparency, monitoring success, and fostering strong and mutually beneficial partner relationships.
Ultimately, while specific individuals or departments may take the lead on formulating KPIs, it should be a strategic endeavor drawing on insights from various stakeholders involved in the partnership ecosystem of the company.
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