How can you ensure partners meet performance targets during maturity?

1 Define clear expectations

One of the first steps to ensure partner performance is to define clear and realistic expectations for each partner based on their capabilities, resources, and objectives. You should communicate these expectations clearly and regularly to your partners, and align them with your own goals and metrics. You should also establish a formal agreement or contract that specifies the roles, responsibilities, and deliverables of each partner, as well as the rewards and penalties for meeting or missing the targets.

2 Monitor and measure results

Another key step is to monitor and measure the results of your partner activities and outcomes, and compare them with the expectations and benchmarks. You should use a balanced scorecard or a dashboard that tracks the key performance indicators (KPIs) of your partners, such as revenue, customer satisfaction, quality, innovation, and compliance. You should also collect feedback from your partners, customers, and internal stakeholders to assess the value and impact of your partner relationships. You should review and report the results regularly and transparently to your partners, and celebrate the achievements and address the gaps.

3 Provide support and feedback

A third step is to provide ongoing support and feedback to your partners to help them improve their performance and overcome any challenges or issues. You should offer coaching, mentoring, training, and resources to your partners to enhance their skills, knowledge, and capabilities. You should also provide constructive and timely feedback to your partners to acknowledge their strengths, identify their areas of improvement, and suggest action plans for improvement. You should also encourage your partners to share their feedback and suggestions with you, and listen to their needs and concerns.

4 Review and adjust goals

A fourth step is to review and adjust your partner goals and expectations periodically to reflect the changes in the market, customer, and competitive environment. You should evaluate the relevance and feasibility of your partner targets, and revise them if necessary to align them with the current and future needs and opportunities. You should also involve your partners in the review and adjustment process, and seek their input and buy-in for the new or modified goals. You should also communicate the changes clearly and effectively to your partners, and explain the rationale and benefits of the changes.

5 Foster collaboration and innovation

A fifth step is to foster collaboration and innovation among your partners and with your organization to enhance their performance and value creation. You should create a culture of trust, respect, and openness among your partners, and encourage them to share best practices, ideas, and insights with each other and with you. You should also facilitate joint initiatives, projects, and events that involve your partners and leverage their complementary strengths, capabilities, and resources. You should also stimulate innovation and creativity among your partners, and support them to develop new or improved products, services, or solutions for your customers.

7 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?