How can you measure the success of your BRM team's relationship management efforts?

1 Value contribution

One of the main goals of BRM is to create and deliver value for your partners and your organization, so it's important to measure how your BRM team contributes to the achievement of strategic objectives, the improvement of business outcomes, and the satisfaction of stakeholder needs. To do this, you can use metrics such as return on investment (ROI), net promoter score (NPS), and value realization. ROI measures the ratio of benefits gained from BRM activities to costs incurred by them, while NPS measures the likelihood of partners to recommend your BRM team. Value realization measures the extent to which your BRM team helps partners achieve their desired results and benefits from products or services. High values for these metrics indicate that your BRM team is successfully adding value to the bottom line, building trust and loyalty among partners, and delivering on promises and expectations.

2 Relationship maturity

A major goal of BRM is to cultivate strong and long-lasting relationships with partners, so it’s essential to measure how the BRM team progresses along the relationship maturity model, which outlines four stages of a partnership: order taker, service provider, trusted advisor, and strategic partner. To do so, you can use metrics like relationship assessment, improvement, and value. Relationship assessment evaluates the current state of the partnership based on communication, collaboration, alignment, trust, and value. You can use surveys, interviews, or feedback tools to collect data from partners and team members. Relationship improvement tracks changes in the relationship over time through the same criteria. Additionally, relationship value gauges the potential value of the relationship in the future based on the level of maturity. You can use scenarios, forecasts, or simulations to estimate the value of the relationship at each stage.

3 Team performance

The final goal of BRM is to optimize and enhance your BRM team's capabilities and competencies. To ensure this, you need to measure how your BRM team performs in terms of quality, efficiency, and effectiveness. You can measure this by looking at metrics such as service level agreement (SLA), process improvement, and team satisfaction. A high SLA indicates that your BRM team is delivering quality and consistency; a high process improvement shows that your BRM team is learning and adapting; and a high team satisfaction suggests that your BRM team is motivated and committed.

4 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?