For example, readability scores are of little use, as I discussed in this July 2006 post on AdamsDrafting. If you’re replacing a longstanding template with a new template, you might get a lot of feedback. If you’re systematic about tracking such matters, you’ll be in a good position to adjust your template appropriately.īut ultimately, putting together a good template is a sufficiently nuanced undertaking that it’s unrealistic to expect that how others react will give you anything other than a rough guide to how good a job you did. And you can forget about metrics-some sort of numerical measure of quality. In other words, how are buyers responding to different deal points, and why? Factors to consider include those mentioned in the discussion on the LinkedIn group, as well as those mentioned by Paul and Eric in their comments to this post. Once you start actually using the template, you’re able to measure that assessment against how the marketplace responds. That inquiry requires that you make your own internal assessment. Instead, I’d ask, How effective is the template? In other words, does the template articulate the deal in sufficient detail to avoid creating problems through uncertainty, while avoiding getting bogged down in minutiae? Does it address risk, but without being unduly risk averse? And does it use clear and modern language and a logical layout? For what it’s worth, here’s my take on this:Īlthough it certainly makes sense to think in terms of the “success” of template, that tells only part of the story, as it puts the focus not on the template itself but on reactions to it. The limited discussion thus far has focused on the “adoption rate,” namely the extent to which customers are willing to use the seller’s template rather than offering their own terms, as well as how much negotiation a template generates. What is the best metrics or KPI (besides order volume or revenue) to measure the performance of ‘standardized contracts programs’? In other words, how do we measure the success of standard contract templates? Does it vary with type of business or customer (channel partner or end-user)? I keep half an eye on the LinkedIn Contract & Commercial Management group, and today I noticed that someone had posted the following question:
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