How Successful Channel Managers Cleverly Leverage MDF
Updated: Oct 26, 2020
Often channel managers struggle to find the best means of driving sales through the channel. MDF (marketing development funds) can be squandered on events, trade shows, and expensive dinners. The best way to use MDF is by driving real interaction between your sales team and your partner's sales team, by joining forces on a sales appointment.
But strong channel partner relationships do not happen overnight.
The sales teams from manufacturers and resellers must be compatible in terms of objectives, target market, resources, and values. Communication is the key to removing uncertainties and exploring possibilities.
Sales appointments as channel currency
Our company has been arranging sales appointments for Channel Sales Organizations in High-Tech for over 15 years. When done right, channel relationships directly extend market reach, achieve higher revenue, and accelerate business growth.
Most Channel Managers would agree that they would like to get a higher level of engagement and productivity from their channel partners. The reality is only 20% of their partner relationships are contributing 80% of the channel revenue generated. Often channel managers struggle to find the best means of creating real interaction between their sales team and their partner's sales team. The best way to drive interaction is by joining forces on a sales appointment. Trade Shows are fine, but comparatively speaking, spending those MDF dollars on an appointment that is certain is far better than leads from a tradeshow, which requires copious follow-up and no guarantees.
Channel Managers that work with our company value the sales appointments we create and use them as “channel currency” to maintain channel partners and develop new ones. We understand and nurture the channel partner relationship in much the same way we value our client relationships. Most of our indirect campaigns come through the channel utilizing MDF.
Cultivating long-term channel relationships
Each sales appointment presents a unique opportunity. Before distributing a new sales appointment, we work with our Clients to invite the right channel partner to a new sales appointment we arrange, to maximize results.
When soliciting post-meeting feedback from our client’s sales appointments, we include the channel partner in attendance. It’s interesting to observe how the same opportunity can be perceived very differently by different attendees. Understanding the complexity and importance of channel relationships, and cultivating long-term productive alliances, has become a fundamental key to our success and client longevity.
Does your business need fresh appointments to bring your channel relationships to the next level?
MoreMeetings.com, in business since 2001, is a virtual inside sales force trusted by the nation’s most respected hardware and software companies. Its core services are appointment setting, lead nurturing, trade show qualification, and sales training. Why trust us? 72% of our calls become funnel opportunities. Care to talk to warm referrals from some of the nation’s largest and most respected companies, just ask! Find out how we can work together: Learn More