What are the best ways to measure the impact of innovative partnerships?

2 Use mixed methods and tools

To capture the full range of impact that your partnership can generate, you should use a combination of quantitative and qualitative methods and tools. Quantitative methods can help you measure the output and outcome of your partnership, such as the number of beneficiaries, the revenue generated, or the cost savings achieved. Qualitative methods can help you understand the process and experience of your partnership, such as the level of trust, the quality of communication, or the degree of innovation. You can use tools such as surveys, interviews, focus groups, case studies, or stories to collect and analyze data.

3 Involve your stakeholders

One of the key benefits of innovative partnerships is that they can engage and empower different stakeholders, such as customers, employees, suppliers, communities, or policymakers. You should involve them in your impact measurement process as well. You can ask them for feedback, input, or validation on your goals, indicators, methods, and tools. You can also share your results and learnings with them and invite them to co-create solutions and improvements.

4 Adapt and learn

Innovative partnerships are dynamic and evolving. They require constant adaptation and learning to respond to changing needs, opportunities, and challenges. You should use your impact measurement as a tool for learning and improvement, not just for reporting and accountability. You should review your data regularly and critically, identify what works and what doesn't, and make adjustments accordingly. You should also celebrate your successes and failures, and share your insights and best practices with your partners and other stakeholders.

5 Align with standards and frameworks

While innovative partnerships are unique and context-specific, they can also benefit from aligning with existing standards and frameworks for impact measurement. These can help you ensure the quality, credibility, and comparability of your data and results. They can also help you communicate your impact more effectively and transparently to your audience. Some of the common standards and frameworks that you can use or adapt are the Sustainable Development Goals (SDGs), the Impact Management Project (IMP), or the Social Return on Investment (SROI).

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?