How do you set and track KPIs for your outsourcing partner?

1 Define your goals

Before you choose an outsourcing partner, you need to have a clear idea of what you want to achieve with your marketing operations. What are your strategic objectives, your target audience, your value proposition, and your desired outcomes? Your goals should be SMART (specific, measurable, achievable, relevant, and time-bound) and aligned with your overall marketing strategy.

2 Select your KPIs

Once you have your goals, you need to translate them into KPIs that will measure the performance of your outsourcing partner. KPIs are quantifiable metrics that reflect how well your partner is meeting your expectations and delivering value. You should select KPIs that are relevant to your goals, realistic, and easy to track. For example, some common KPIs for marketing operations are lead generation, conversion rate, customer satisfaction, cost per lead, and return on investment.

3 Communicate your KPIs

The next step is to communicate your KPIs to your outsourcing partner and make sure they understand and agree with them. You should also establish how you will track and report the KPIs, how often you will review them, and what actions you will take if the KPIs are not met. You should document your KPIs and the expectations and responsibilities of both parties in a service level agreement (SLA) that will serve as a reference and a contract.

4 Monitor your KPIs

Once you have set and communicated your KPIs, you need to monitor them regularly and consistently. You should use a dashboard or a tool that allows you to track and visualize your KPIs in real time and compare them with your benchmarks and targets. You should also collect and analyze data from your outsourcing partner and other sources to identify trends, patterns, and insights that can help you improve your marketing operations.

5 Review your KPIs

Monitoring your KPIs is not enough; you also need to review them periodically and evaluate the performance of your outsourcing partner. You should schedule regular meetings or calls with your partner to discuss the results, the challenges, the feedback, and the opportunities for improvement. You should also use the review sessions to celebrate the achievements, recognize the efforts, and reward the excellence of your partner.

6 Adjust your KPIs

Finally, you need to be flexible and adaptable with your KPIs. Marketing operations is a dynamic and evolving field that requires constant innovation and optimization. You should review and adjust your KPIs as needed to reflect the changes in your goals, your market, your customers, and your partner. You should also solicit and incorporate the input and suggestions of your partner to ensure that your KPIs are mutually beneficial and aligned.

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?