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How can you use BRM performance metrics to improve your relationship management strategy?

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As a business relationship manager (BRM), you know that measuring and improving your performance is essential for delivering value to your stakeholders and achieving your strategic goals. But how can you use BRM performance metrics to improve your relationship management strategy? In this article, you will learn what BRM performance metrics are, why they are important, how to choose and implement them, and how to use them to enhance your BRM capabilities and outcomes.

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Ganesh Ullur (Transforming IT Delivery and Client Relations)

| Your Trusted Global Delivery & Relationship Expert | Process and Operations Specialist | Leadership & Growth…

1 What are BRM performance metrics?

BRM performance metrics are indicators that help you assess and communicate the effectiveness and impact of your BRM role and activities. These metrics can be quantitative or qualitative, and they can cover the quality and maturity of your relationships, the alignment of IT and business strategies, the value creation of IT-enabled initiatives, the satisfaction of business partners, and the efficiency of BRM processes and resources. In this way, you can gain insight into how successful your BRM activities have been.

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Eli Ilonga

Business Development - FinTech - FTIP?
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As a Business Relationship Manager, key metrics include Customer Satisfaction Score, Relationship Health Index, Service Level Agreement (SLA) Compliance, Business Value Realization, Stakeholder Engagement, Risk Management Metrics, Cost of Relationship Management, Quality of Communication and Strategic Alignment

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2 Why are BRM performance metrics important?

BRM performance metrics are essential for demonstrating your contribution and credibility as a trusted advisor and strategic partner to business stakeholders, as well as identifying and prioritizing BRM goals, actions, and improvement opportunities. Metrics also help you monitor and evaluate your BRM progress and performance against expected outcomes and standards. Additionally, they facilitate communication and reporting of your BRM value proposition and results to senior management and other audiences. Finally, metrics enable you to learn and adapt your BRM practices and behaviors based on feedback and evidence.

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Ganesh Ullur (Transforming IT Delivery and Client Relations)

| Your Trusted Global Delivery & Relationship Expert | Process and Operations Specialist | Leadership & Growth Coach | Mentor and Strategic Consultant| Creator of "IT Delivery Mastery eBOOK " |
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BRM performance metrics play a crucial role in assessing the overall success and maturity of relationships. Quantitative measurements such as Voice of the Customer (VOC), Customer Satisfaction (CSAT), and strategic review outcomes provide valuable insights into the health of an account. By continuously monitoring these metrics and promptly addressing any issues identified, we can effectively improve relationships, particularly with demanding situation/challenges.

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3 How to choose and implement BRM performance metrics?

For successful implementation of BRM performance metrics, you must follow a systematic and collaborative approach. This includes defining your BRM vision, mission, objectives, and value drivers; understanding your business context, needs, expectations, and challenges; selecting and defining relevant, meaningful, and measurable BRM performance metrics that align with your BRM and business goals; establishing your BRM performance baseline, targets, and benchmarks; collecting and analyzing your BRM performance data using appropriate tools and methods; and reviewing and validating your BRM performance results with your stakeholders.

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4 How to use BRM performance metrics to improve your relationship management strategy?

Regularly and transparently communicating and sharing your BRM performance metrics and results with your business partners and other stakeholders, as well as celebrating and recognizing successes, are essential to improving your relationship management strategy. Furthermore, it is important to solicit feedback from stakeholders on how to improve performance and value delivery. Additionally, you should identify and address any BRM performance gaps or issues with root cause analysis and corrective actions. Lastly, plan and execute improvement initiatives and projects based on BRM performance metrics, then track and measure the impact of these initiatives.

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5 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?

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How can you use BRM performance metrics to improve your relationship management strategy?

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1 What are BRM performance metrics?

2 Why are BRM performance metrics important?

3 How to choose and implement BRM performance metrics?

4 How to use BRM performance metrics to improve your relationship management strategy?

5 Here’s what else to consider

Business Relationship Management

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How can you use BRM performance metrics to improve your relationship management strategy?

1

2

3

4

5

1 What are BRM performance metrics?

2 Why are BRM performance metrics important?

3 How to choose and implement BRM performance metrics?

4 How to use BRM performance metrics to improve your relationship management strategy?

5 Here’s what else to consider

Business Relationship Management

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