Did you know that if you aren’t utilizing marketing development funds (MDF), you’re already at a disadvantage compared to your competition? You may not be utilizing MDF due to a lack of information on the resources available to you or maybe over concerns for the approval and payment process. Either way, you’re weakening your position and missing opportunities: Using MDF resources can result in a substantial increase in leads and, ultimately, sales.
For more information on how allocating MDF funds towards content marketing activities can increase sales, download our free e-book.
If you’re not familiar with marketing development funds, they’re dollars that manufacturers or vendors make available to help channel partners (resellers, VARs, ISVs or distributors) sell its products and create local awareness about their national brand.
First Steps toward MDF
The first thing you need to do is reach out to your vendors to identify the MDF opportunities that are available to you. Then you can begin to craft your pitch to receive MDF and devise a plan that will deliver an effective ROI to your sales team and to the vendor. In other words, you need to determine how you can get the biggest bang for your buck. Follow this advice:
Although most channel partners understand the importance of marketing to grow and sustain their businesses, many lack the resources to carry out marketing activities. MDF bridges that gap. If you’re not utilizing marketing development funds, you should be. Educate yourself on the resources available to your organization, apply for marketing dollars, and get the biggest bang for your MDF buck.