From just two vendor conversations we’ve had recently, we estimate that a staggering £1billion of revenue is being missed out on every year, because of unclaimed, unused or wasted vendor funding.
MDF– or JMF or CMF – and the way it is managed, distributed, applied for, approved, tracked and reported on needs to change. It’s frightening. The partner marketing funding proposition just isn’t being taken advantage of. Partners aren't always aware it exists or even if they do, many think the process is too complicated or not clear. Which is a shame, because the funding is there, and the opportunity is massive!
How does this sound for a no-brainer: apply for some funding which you are probably entitled to*, get some marketing done, generate some leads and increase revenues?
Simply put, vendors allocate budget (in a number of different ways) for partners to spend on marketing and lead gen. This is a sales and marketing activity for vendors. Let’s go back to basics and remember… this is the absolute foundation that the indirect channel is built on.
Basic hypothesis: If partners do more marketing (paid for by vendors) then they’ll generate more leads and sell more vendor stuff. This makes partners more money, which in turn means the vendor makes more money. Everyone’s happy and the cycle continues! Hooray!
Sadly, the MDF reality is an astonishing story of ignorance, wastage and missed opportunity. And yet it’s really not that complicated:
1. Vendors need to make partners more aware of the funding that exists and how to access it… then providing a simple process to access/apply and manage it all.
2. Partners need to produce decent marketing plans to apply for funding, to make applications easy for the vendor to approve. Then execute the activity, deliver new leads and then be sure to report back on results.
Over the last 15 years or so we have worked with many of the world’s top brands in tech and telecoms, so we totally get vendors – how they work, their needs, and what they expect from partners. During that time, we have surveyed tens of thousands of partners and delivered successful marketing and lead gen campaigns to drive new partner sales. So, we totally get partners too!
Bringing the two together, we have developed a new and exclusive partner marketing service – PULSE, which provides partners with a unique combination of marketing support, results-driven campaign creation and management, lead gen and assistance to ensure partners are making the most of the vendor support and funding available.
We have more to come on the subject of MDF –a lot more! But for now, have a listen to this podcast where our MD, Glenn Robertson speaks to Paul Green (MSP Marketing expert) about MDF and how partners could and should be accessing available funding.
For more information on how Purechannels can help with partner marketing, visit PULSE.