Business relationship measurement

KPIs Business Relationship Management | IT Process Wiki

business relationship measurement

Successful relationship-based businesses know that it's not enough to just follow up, but they must measure their actions using these 6 key. The first tool is a method for setting relationship objectives and measuring the firm's progress toward achieving them; the second is a strategic, integrated plan for. Source: Key Performance Indicators for ITIL Business Relationship Customer Satisfaction per Service, Average measured customer satisfaction for each.

KPIs Business Relationship Management

Number of follow-ups If you are not following up and providing value to anyone in your network each week, you have a poor baseline. Start with 7 - 10 follow ups per week.

business relationship measurement

If you have a process for following up, it should take you no more than an hour to 90 minutes. Remember, follow-ups does not mean sales pitches.

It could, however, mean sharing an article you thought they would like, commenting on something they posted on LinkedIn, or even commenting on how awful the Redskins were in the first half of Monday Night Football totally hypothetical.

You just want to stay on their radar and keep the conversation open.

How to measure and manage your business relationships - BQLive

Reply conversion rate Based on the follow-ups that you perform each week, start tracking your reply conversion. Messaging resonance To determine whether your messaging and calls-to-action are resonating with your contacts, you'll want to study your email templates.

Start reviewing which templates get the best return and then analyze why.

business relationship measurement

Is it the length? The ask in the email? As you watch and test which templates are more successful, you can fine tune your messaging for higher reply conversions. Network growth and reach Too many business professionals are happy with collecting business cards and feeling like they really "met a lot of people".

If you go to a conference or networking event and meet 5 - 8 people, you're doing a great job. If you collect 50 cards per event, you're probably a schmuck.

Customer Relationship Measurement - Meaning, its need and importance

It's important to build rapport in the first meeting, but then most important that you build and develop that relationship after the first meeting. John Corcoran wrote a great post on how to follow up after meeting someone in person.

It considers a number of dimensions to define the relationship between two groups of people as viewed from the perspective of one e.

business relationship measurement

US - all or part of your organization with respect to the other THEM - customers, suppliers, markets etc. Strength — the strength of each person-to-person relationship.

How to measure and manage your business relationships

To determine the potential impact of a relationship the system also factors in Power and Influence. Power — A simple High, Medium or Low score based on an individual's position or role and its relevance to your organization.

business relationship measurement

That influence stays with the person and is not determined by their role or position or opportunity. How does it work in practice?

business relationship measurement

Maintaining the relationship information necessary for measurement involves little effort beyond that required to maintain a basic contact management system, but the benefits are of course far greater. In fact, it is arguably less effort than those systems, as with Traxor you need only enter data once e. Similarly, a few mouse clicks relates one person to another and no further maintenance is required. As they change jobs, their person to person relationships remain intact, which of course changes the dynamics of your relationships with the organizations they are in.