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4 Partner Metrics to Scale Business in Digital Economy

In a digital setup, the partner program espouses the role of a matchmaker between those who are in need and those who can fulfill the need. In return, the platform charges a certain amount from the consumers for connecting the two.

In this article at Forbes, Chen Amit recommends some metrics culled from his tenure with numerous firms struggling with their digital business models. He suggests starting with a baseline measurement and then acts upon the improvement of it.

Modern Talent Agency

In the digital arena, only survival of the fittest is possible and to become a ‘modern talent agency’ the organizations need to scale at rates never seen before. If your venture is playing digital matchmaker in the market too, master the art of winning with the least amount of friction. Here are some beneficial metrics to crack the deal:

  1. Onboard & Stimulate Productivity: Finding the right partners to a venture is as tedious as gaining customer loyalty. However, the process is overlooked often. It is vital to provide effective training and grooming to the partner. In fact, background and blacklist checks can also filter the best among the rest.
  2. Transaction & Communication: In digital setup, meeting most of the partners in-person is impossible. Hence, effective communication is the best way to maintain transparency. Web portals, online content, email and text notifications are some of the most effective engagement mechanisms to try out.
  3. Partner Fraud Rates: Finding digital partners is a risky business, especially if they are working from a remote location. Even after on-boarding the partner after intense identity fraud issues, the risk of being cheated remains. Thereby, constant monitoring and fraud checks must remain a part of the ecosystem.
  4. Partner Retention: Once you have found the right partners, retaining them becomes equally crucial. If you never wish to lose highly productive partners with extraordinary capabilities, keep them happy. Listening to top partners is critical to managing those relationships.

Click on the following link to read the original article: https://www.forbes.com/sites/forbestechcouncil/2019/01/16/digital-economy-four-partner-metrics-that-define-how-your-business-scales/#7c9a3f8933bd

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