4 Tips For Developing An Inspiring MDF Program
That Increases ROI
Imagine MSP partners clamoring to market and sell your products for you — not only volunteering to do the work but also enthusiastically driving their local market and clients to purchase your company ’ s products and services . This is not a pipe dream . It can be done by developing a Marketing Development Fund ( MDF ) program . MDF is money provided by manufacturers to help their channel partners raise brand awareness , do marketing , and sell more product . In exchange for providing this “ free marketing money ,” you get ultimate control over which partners you invest in and what activities , advertising campaigns , or events are acceptable . MDFs allow you to leverage your partner ’ s local market knowledge and power without having to invest in the manpower to run these campaigns . It ’ s a win-win , saving you time while producing the highest possible returns for everyone . Unfortunately , nearly 60 % of MDF programs go unused because MSPs don ’ t know MDFs exist . Or , if they know about it , they find the MDFs too time-consuming or confusing to access .
Here are four strategies to inspire and enable your partners to access your MDF and ultimately sell more of your product and services for you .
1 . Communicate Clear Expectations .
Every channel company does MDF differently . This is the prime reason partners are confused about how to access MDF . Make it easy for your partners by developing a simple process that isn ’ t overly time-consuming . Give clarification about how your program works , your requirements , what partners can and can ’ t do with the funds , and your strategic expectations .
subject matter expert along with funds for live events where their partners invite their leads and customers . Wasabi funds everything from virtual wine tastings to trivia nights . They ’ ve found pairing something fun with a 15-minute Wasabi pitch gets attendance much easier and builds awareness around why clients need their product .
MDF can provide growth and opportunity to both you and your partners . By developing an MDF program using the above tips , you can deliver real benefits and a higher ROI to your organization and your partners .
2 . Educate Your Partners .
Let your partners know you are making an investment to help generate results and give them information about your MDF program . One of the easiest ways to make partners aware of your MDF program and educate them on what it entails is to send details of your MDF program to The Ultimate MDF Guide . You can participate in the guide for free by sending an email to Info @ mspsuccessmagazine . com .
3 . Couple Enticing Incentives With Timely Reimbursement .
Look at your incentives and policies for reimbursement . If it takes a long time to be reimbursed or there isn ’ t an enticing incentive , your partner is not going to want to shell out their own money to market your business .
4 . Encourage Collaboration .
Encouraging partners to come to you with ideas allows you to help develop a win-win plan . Quickpass sponsors events for partners gaining exposure through things such as placing Quickpass logos on all the wine bottles at an event or providing food and performing a product demo . These activities resulted in the partner converting the majority of the end users and gaining adoption to onboard the Quickpass Self-Service App . Highwire Networks provides a
Get your MDF Program included for FREE in the MDF Guide for MSPs by emailing Info @ mspsuccessmagazine . com
www . BigRedMedia . com 9