Why your business should access vendor marketing funds
Many vendors offer marketing funds to their channel to pay for marketing and lead generation campaigns. Unfortunately, too often these funds go unclaimed.
This is a missed opportunity for the channel who would benefit from the additional funding to grow their business.
Marketing development funds (MDF) tend to go unclaimed for a variety of reasons. Sometimes the channel is not aware that funds are available. Sometimes the process for accessing these funds is complex and eligible channel members put it in the ‘too hard’ basket. Often, companies don’t have the time, or experience, to put campaign ideas forward and execute them.
Channel partners who do claim these marketing funds can achieve strong business growth as a result of being able to run consistent, well-funded campaigns.
Some of the benefits of using MDF include:
a larger sales pipeline, due to increased contact with prospects at the right time in the purchase cycle
improved sales figures, resulting from better lead nurturing and consistent communication with prospects and customers
higher brand recognition, due to co-branded marketing paid for by the vendor
better scores in business reviews from vendors, which can result in a higher partner status.
By accessing MDF allocations, and using them efficiently and effectively to build pipeline and increase sales, channel partners can build strong, professional relationships with vendors that result in increased revenue for both parties. It demonstrates a commitment to the vendor that is rewarded by increased sales as well as additional opportunities. Often at Outsource, we see that channel partners who consistently work well with vendor marketing funding are given more options to continue to grow their businesses.
Help is available for channel partners who would like to use funds but cannot find the time or in-house expertise. Professional marketing agencies, such as Outsource, are highly experienced at discovering, accessing and effectively using MDF for channel partners. Outsource makes it simple not only to access the funds but to use them in a way that generates results.
Given the benefits of accessing MDF and the minimal cost of doing so, the question isn’t “why should channel partners leverage vendor marketing funds” but rather “why haven’t they accessed these funds before now?”