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2024 CO-MARKETING IMPACTS BENCHMARKS
JANUARY 09, 2024
THE ROLE OF VENDOR RESOURCES
If you’re in one or more vendor Partner Ecosystem, then you’re familiar with the
joys (and pains) of these programs. Each vendor has a unique approach to their
partner universe, with each providing a combination of support, education,
self-serve resources and tools, as well as “co-marketing dollars” for partners
to use to generate demand.
The focus on partners is core to vendor success, as partners contribute as much
as 73% of all business tech sales, according to the experts at Canalys.
In our benchmark study “Impact of Co-marketing resources on Business Success,”
we’re identifying key benchmarks in how partners use these resources to enable
them to optimize their program.
What Are Some Easy Ways To Use Co-Marketing Dollars?
Most partners surveyed indicated receiving co-marketing dollars to help with
demand generation. However, the research also shows that only a relatively
small percentage use those funds. In a recent live event poll, where more than
30 Partner executives attended, BeTechly discovered that "lack of ideas" and
"lack of staff" are common challenges Partners face when it comes to using their
co-marketing funds.
According to the experts at Change3, here are three of the easiest and most
effective ways to use $5K or more of co-marketing funding:
1. Host a webinar: According to BeTechly research, the largest percentage of
Business Tech Decision-makers (47%), indicating wanting to learn about new
solutions via webinars. BeTechly's Expert Discovery Series is a great way
to be showcased with limited effort (as the BeTechly research team
will produce the event materials and host it - experts just need to chat!).
To learn more, fill out the form below.
2. Use new Account-Based Marketing tools which will give you visibility into
which companies are visiting various pages on your website - particularly
those from digital campaigns. This will give both your sales and marketing
departments a boost of information to act on, as well as an on-ramp to build
contact lists, improve targeting and take action with regard to nurture and
progression activities. The experts at Change3 offer this service for less
than $500/month. Use BeTechly's complimentary Expert Connect service to
schedule a demo.
3. Send a Treat (like a cookie with your logo) to Warm Prospects. Everyone
loves a free treat and a custom-baked royal iced cookie with your message is
a great one to provide. You can coordinate this type of postal outreach
campaign yourself or work with an agency. BeTechly can help you get
connected to cost effective providers.
How Do Partners Commonly Work With Vendors?
Partners work with multiple vendors in a variety of ways, but our research shows
that “bundling” vendor solutions with their own is the most common way that
Business Partners go to market, as opposed to straight resell or building on
top.
* Currently, the benchmark is approximately 41% of partners go to market with
vendors by building on top of their platforms, compared to 35% that resell
and another 35% that bundle.
* The average partner works with as many as 8 vendors and use YY% of their
co-marketing dollars.
* Partners get varying amounts of co-marketing dollars annually, with $5,000
being the most common amount indicated. Many partners indicate getting more
than $250,000 annually from some vendors.
What Are Partners’ Top Benefits From Co-Marketing Programs?
Overall, Partners indicate that vendor resources play a key role in expanding
their offerings, with those that bundle being most likely to indicate this.
In addition, the top three resources that most partners indicate using across
vendors are:
* Technical sales support
* Product marketing support
* Marketing or sales training
Interestingly, only 20% of the partners in our benchmarking study indicated
using co-marketing dollars, which are funds that vendors provide to partners to
pay for demand generation activities.
What Are Partners’ Top Challenges From Co-Marketing Programs?
The challenges partners indicate vary greatly, but the most commonly cited was
“integrating activities.” This refers to being able to craft strategic
marketing programs from varying vendors, with varying resources that usually
have different terms and conditions.
Following this, partners also indicated the challenges listed below:
Overall, our research shows that co-marketing programs are helpful to partners,
but there continues to be room for improvement – particularly as it relates to
administration and compliance with program rules.
Connect With Experts On This Topic Plus More
Confirm your details and choose the best date and time to discuss your needs
with an expert below.
Tell us more about your need to speak with an expert.
— Choose a topic — Analytics Asset Management Cloud Co- Marketing Demand Gen
Solutions Generative AI IBM Systems Marketing or Sales Support Tech Security
Storage (on-premise) Turbonomic Website & eCommerce Other
— Choose description of your current need — Identify best pricing Address a new
challenge Start a new initiative Kickoff new project Check out new vendors I
want a free IBM Systems Review Explore different options Other
Select your preferred date and time to speak with an expert to discuss your
needs.
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— Select Time —
Pick your preferred virtual meeting platform below.
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