Are Your Partners Getting Their Money’s Worth from Your Certification?
Channelinsider recently showed the value of IT Certification, in terms individual pay premiums. Today, we explore whether partners get their money’s worth from your certification. In other words, is there a return on investment?
For all but one category, it had turned positive in the last 3 months versus last year as compared to average base salary. Another way to look at this, though, is that Partners can charge more for the services their technically trained people provide.
So then, we have some questions for you. When you prepare your certification programs, do you consider the certification costs from the Partner’s perspective?
Thus you may want to make sure you’ve asked the following questions…
- Do you evaluate everything the Partner must invest in certification before they will realize any revenue?
- Have you looked at how long it takes a Partner from the time they become certified until they begin consistently producing revenue as a result of this certification?
- Do you know how your Partners compare before and after training?
- Do your Partners believe that their investment in certification was worthwhile? Did they see any ROI?
- When will the Partner breakeven on their investment in your certification? Is this reasonable?
Here’s where data can help. Quite simply, relying on sound data and quantitative analysis removes guesswork. For example you might take a look at the following
- Compare revenue and 2-tier POS in your Oracle, SAP or other ERP data base with information from your training and certification records in your learning management system.
- Merge that information to your Partner data base.
- Estimate cost for each component of certification (course(s), equipment, testing, etc.).
- Identify average gross margin that your Partners will realize for each certification for your breakeven analysis.
Now you’re ready to start crunching numbers. Sound like a daunting task?
Challenges of Measuring Whether Partners Get Their Money’s Worth from Your Certification
It can be. Because, mainly, most of the information comes from different data bases. In addition, it’s in different formats that must be adjusted before you can even begin analysis.
Or alternatively, you might want to work with an outside team.
This way, you shift the heavy lifting while you still earn about your channel. Let your analytical partner merge partner, product, customer, company, and market data together with any necessary 3rd party sources. They’ll build your customized Partner Intelligence Scorecard using Key Performance Indicators that your want to measure.
While you’re at it, consider doing other analysis. For example, compare channels and partners, or groups of partner-types. The compare geographic locations and certification levels. Or experience levels. Build a decision-making dashboard to assist decision-making, program evaluation and management.
So in addition to knowing whether your partners get their money’s worth from your certification, you also know it for you. You’ll be able to improve programs, target the right partners, and improve communications with your best partners. You’ll learn if you get your money’s worth from your certification.