Market development funds help the partner world go round. Oftentimes, larger partners will provide market development funds for in-person events and targeted marketing campaigns. It can jump-start new and partner efforts and as well as add fuel to the fire of proven programs.
Use data to get more MDF Budget from your partners
MDF augments your marketing budgets and lets your marketing teams do more with each partner. But it isn’t always easy to receive MDF budget from your partners. Most companies work with hundreds or even thousands of partners that are all competing for a slice of the pie. So how can you stand out from the crowd and get a larger slice of the MDF budget? You’ll get a larger chunk of market development funds if they see you as a top partner. And the best way to show that you are a top partner is with demonstrable win rates and trackable revenue tied to those wins.
Teams that use PartnerTap’s Ecosystem Sales Platform are able to use hard data to get more MDF Budget from their largest partners
Some of our customers have used the detailed mapped account data from PartnerTap to create hyper-targeted account lists that impressed their partners so much that they offered more MDF without even being asked. And over time our customers have become top partners by generating twice the results with half the effort from their co-marketing campaigns.
Generate more pipeline with more targeted account lists
Partner marketing teams regularly run campaigns with partners with the aim of generating more pipeline for each side. But oftentimes, the results of partner marketing campaigns are weaker than expected. The reason is that they don’t have the data needed for more targeted efforts. Using PartnerTap’s multi-partner account reports, partner marketers can create very targeted lists of accounts to target with specific offers or invites to local events. By targeting campaigns at a fewer number of highly relevant accounts, partner marketing can invest more in the campaign and generate stronger results.
Create partner-specific lists for co-marketing campaigns
There are lots of ways that partner marketing teams can generate new pipeline and accelerate current deals. But most partner marketing teams lack up-to-date target accounts with each partner. With PartnerTap, partner marketing teams can create hyper-targeted lists of accounts to target with each partner and make sure that the right account owners are brought into the loop.
These partner-mapped accounts can then be pushed into your CRM where marketing can use this data in reports to pull very targeted contact lists for each campaign.
High Win Rates Translate to Higher MDF Investments
PartnerTap is an Ecosystem Sales Platform that identifies the accounts with the most influence and highest propensity to buy based on your existing partner relationships, installed products, and any other account data you pull into the platform. Partner marketing teams use PartnerTap to create highly-targeted account lists, and sales teams use PartnerTap to close more deals with partners.
To get the most out of PartnerTap, we recommend not only mapping all accounts with partners but also using the ecosystem overlap reports to inform partner-to-partner strategies. These reports help to identify the accounts that have the highest propensity to buy in the right industries and segments, with your partners that have the largest center of influence. When you can hone your target lists – magic happens.
Final Thoughts
Using the right data, your marketing team can create win-wins within your partner ecosystem. If you use your account data to identify the partners you can win the most with, you can then make highly-targeted account lists for co-marketing campaigns. Once you have your highly-targeted lists, you can begin closing more deals with your partner. This will in turn position you as a top partner to that company. It’s much easier to get more MDF budget from those partners if you have a track record of closing the largest deals.