What relationship metrics and indicators should you track for successful business management?

1 Relationship Value

Relationship value is the overall benefit that you and your stakeholders derive from your business relationships. It can include tangible outcomes, such as revenue, cost savings, innovation, or customer satisfaction, as well as intangible benefits, such as trust, loyalty, reputation, or learning. To measure relationship value, you need to define the objectives and expectations of each relationship, identify the relevant indicators and data sources, and track the performance and progress over time. You can also use surveys, feedback, or testimonials to capture the qualitative aspects of relationship value.

2 Relationship Maturity

Relationship maturity is the degree of development and evolution of your business relationships. It reflects how well you and your stakeholders understand each other, communicate, cooperate, and adapt to changing needs and circumstances. Relationship maturity can be assessed using a framework, such as the Business Relationship Maturity Model (BRMM), which describes five levels of relationship maturity: ad hoc, order taker, service provider, trusted partner, and strategic partner. By using this framework, you can evaluate the current state of your relationships, identify the gaps and opportunities, and plan the actions and interventions to improve them.

3 Relationship Satisfaction

Relationship satisfaction is the extent to which you and your stakeholders are happy and satisfied with your business relationships. It indicates how well you meet or exceed each other's needs, expectations, and preferences. Relationship satisfaction can be influenced by factors such as quality, timeliness, responsiveness, reliability, flexibility, or empathy. To measure relationship satisfaction, you can use methods such as surveys, ratings, reviews, or net promoter score (NPS), which is the percentage of promoters (those who would recommend you) minus the percentage of detractors (those who would not recommend you).

4 Relationship Health

Relationship health is the state of well-being and resilience of your business relationships. It reflects how you and your stakeholders cope with challenges, conflicts, or risks that may arise in your interactions. Relationship health can be affected by factors such as trust, respect, transparency, accountability, or feedback. To measure relationship health, you can use tools such as relationship audits, risk assessments, or conflict resolution techniques. You can also monitor the signs and symptoms of relationship problems, such as complaints, disputes, dissatisfaction, or attrition.

5 Relationship Alignment

Relationship alignment is the degree of congruence and harmony between your and your stakeholders' goals, values, and interests. It shows how you and your stakeholders support each other's vision, mission, and strategy. Relationship alignment can be enhanced by factors such as collaboration, co-creation, shared governance, or mutual benefit. To measure relationship alignment, you can use approaches such as alignment workshops, stakeholder maps, or value proposition design. You can also check the alignment of your relationship activities, processes, and resources with your strategic objectives and priorities.

6 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?