Time to First Sale
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What is time to first sale?
In partnerships, time to first sale (TTFS) refers to the duration it takes for a newly onboarded partner to make their first sale after completing onboarding, training, and enablement processes. It helps you measure the efficiency of your partner onboarding and enablement programs, ensuring partners have the necessary knowledge, skills, and resources to effectively and easily promote your offerings.
The clock starts ticking from the moment a partner joins your program. It stops when they successfully close on their first sale of your product or service to a customer. For instance, if it takes 60 days on average for a new reseller to make their first sale, the time to first sale would be 60 days. You can also measure it on different partner segments, calculating time to first sale by market, partner type, and more.
This metric enables you to assess the effectiveness of your partner enablement initiatives and identify areas for improvement. A shorter TTFS indicates that your partners are efficiently onboarded, trained, and enabled to sell your products or services, leading to quicker revenue generation and business growth. Have a partner segment with a longer TTFS? You can identify any bottlenecks in the onboarding process, gaps in training content, or areas where additional support may be needed to accelerate ramp-up and time to revenue.
While optimizing time to first sale is essential for maximizing revenue from your ecosystem, it’s equally important to prioritize the quality of partner relationships and ensure that your partners have the support they need to succeed beyond their initial sale. By fostering strong partnerships and providing ongoing support and enablement, you can drive long-term success and mutual growth with your partners.
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