In the United States, nearly 60% of software and hardware manufacturers report that they spend at least 5% of their channel marketing budget – well over $1 million annually – on joint marketing programs. Yet, industry estimates suggest that at least 50 cents of every dollar go unused. Why is so much of this valuable marketing support going unspent?
Most Common Reasons for Unused Co-op and Market Development Funds
Partners are simply unaware of what programs are available to them
Program administration and the reimbursement process are too cumbersome
Partners are not equipped to optimize their marketing efforts
Because partners report that many programs are simply too difficult to use, the first step is to review your program from the partners point of view. Is the process to gain approval for projects and qualify for funding clearly documented? If partners have questions or need help, are there easy-to-find resources? Are program guidelines easily accessible via the web to download or print for reference?
From the vendors point of view, documentation is critical for audit purposes. But from a partner’s point of view, documentation is a hassle. Resolve this conflict by ensuring your POP requirements are as minimal as possible and easy to comply with.
An easy-to-use MDF solution optimizes results across the entire co-marketing process. And after all, partnership is about working together towards a common goal in the spirit of trust.
Keep the approval process simple
This eBook provides guidelines to help you maximize the funds you invest in marketing enablement. By following these key guidelines, program administrators will experience increased efficiencies, reduced administrative costs, and improved partner satisfaction.