Boost your business using vendor marketing funds
With the new financial year just around the corner what are you doing to ensure your marketing is supporting you for the year ahead?
Market development funds (MDF) are available from vendors and can be used to fund your marketing program, as long as it meets the vendor’s requirements, which usually map closely to your own needs anyway.
Vendors rely on their channel partners and resellers to sell their services and products, which is why they make these funds available. Far too few reseller partners are aware of the MDF opportunities available to them, or they fail to take advantage of these funds because they’re not sure how to, or they don’t have the resources to properly manage and report on a campaign.
Using MDF offers three major benefits for your business:
A targeted campaign that meets your needs, and your vendor’s requirements. Although the campaign is funded by your vendor, you remain in control of the program and can tailor it to suit your needs, whether you’re looking to generate new leads, foster top-of-funnel awareness, or increase sales.
A stronger partnership with your vendors. By working together on a marketing program, you can show your vendor that you are committed to the partnership. This can pay dividends in the future as you work together to build your market share.
The ability to generate new leads. By using your vendor’s MDF, you have more flexibility around how you can use your company’s marketing budget. Ultimately, it also helps you generate new leads and nurture existing leads, which is essential to grow your business.
Partnering with a marketing agency with significant experience in helping resellers manage MDF-funded marketing programs can make a huge difference to the success of your marketing programs. It can mean the difference between impressing your vendors or failing to achieve the agreed-on expectations.
Benefits a marketing agency can provide include:
Expertise in the field to ensure your campaign is on the right track. A specialist marketing agency has experience in campaign development and implementation including proof of execution, measurement and reporting.
Assistance to effectively communicate with your vendor to achieve a mutually beneficial program. At Outsource, we have decades of experience in helping partners work with their vendors to use MDFs. We know how to make sure you both get the best possible return on investment.
Resource augmentation to help your team punch above its weight. You won’t have to dedicate as many inhouse resources to the marketing campaign. If you have a dedicated marketing team this means it can focus on additional marketing efforts that complement and bolster your MDF campaigns. If you don’t have an inhouse marketing team, then it means you don’t have to worry about managing a marketing campaign. Either way, the additional assistance can help make sure you get maximum value for every dollar of MDF your vendors offer.
Would your company make more sales if it accessed all the vendor MDF it was eligible for? For more information on how we help vendors build successful MDF programs, click here.