|
Abstract:
|
By reselling goods and services, partners provide the primary source of end customers for many businesses. Retaining them is therefore critical for a business to remain vital over time. A process and online tool has been developed to detect and display statistically significant changes in the volume of customers provided by each partner, enabling sales and marketing to accurately identify retention issues early. This is accomplished through three steps: 1) modeling the typical partner lifecycle for the business, 2) creating a detection algorithm to classify each partner into one of four stages (growing, maintaining, declining or dormant) over time, and 3) visualizing the key metrics and partner states. In just the first month of use, this enabled the identification of over 1k declining or newly dormant partners, resulting in sales calls leading to over $4MM in new volume submitted.
|
