Key performance indicators (KPIs) are the quantifiable metrics businesses use to evaluate their progress towards strategic objectives. KPIs are one of the definitive tools used for accurately managing performance. By tracking KPIs, businesses can pinpoint areas for improvement, reallocate resources effectively and ensure that partnerships contribute meaningfully to quarterly or annual business goals.

KPIs offer many different insights into the health and effectiveness of partnerships and partner programs. Some essential KPIs in B2B partnerships include partner-sourced revenue, lead-generation, commission payouts and overall program ROI. It's also important to monitor the total number of partners, onboarding success, partner performance and partner happiness.

Beyond revenue targets, tracking metrics to understand the health of partner programs are crucial for long-term growth. Strategic KPIs help ensure that all team members are aligned with the company's goals and can clearly see how their efforts contribute to overall success. Using tools like performance management software can streamline this process, facilitating analytics tracking of key metrics. Whether it's a simple spreadsheet or fancy performance management software, focusing on the right KPIs will streamline operations and help businesses hit their goals.