Thanks for reading so far in you guys! This post covers the last step you need to take towards moving channel marketing play performance from sluggish and piecemeal to empowered and results-optimized, as identified by SiriusDecisions.
And I would argue that it’s probably one of the most important parts of the Six Steps series.
Why? Because this last step focuses on the future of your channel marketing efforts.
If you’re new to this series, we’re discussing the recommendations made by SiriusDecisions in regard to the recently identified shift in channel marketing. Basically, B2B channel marketing has moved away from traditional models, where the customer was reliant on the supplier to tell them what they need, and channel partners relied on suppliers to drive demand. Instead, modern buyers can access validated information on their own, and make purchasing decisions outside of supplier influence, leaving both partners and suppliers with an outdated business model.
SiriusDecisions found that many B2B marketing organizations could respond to this change by empowering their partners to drive demand and grow revenue in as few as six steps.
Recap – the steps so far
It starts with determining you partners’ marketing skills and abilities, which then allows you to reinforce the marketing fundamentals they need to drive demand. You can measure their progress with marketing certification, and reward their commitment by providing professional marketing plays. To help them get the most out of those plays it helps to make a concierge service available, to guide their choices and even take over campaign administration, if desired.
But how do you know if this is all working?
Track your marketing play ROI
One common issue expressed by marketing professionals is the difficulty they face when asked to demonstrate the value of their actions. How can you prove that your projects—which aren’t easy to quantify at the best of times—have positive, measurable effects within a given time-frame?
The good news is that there are a number of ways to track the effectiveness of your channel marketing spend. If you’ve followed the advice throughout this series, you should be able to:
- Capture the number of deals generated by each marketing play
- Calculate cost-per-lead in terms of campaign spend
- Measure partner influence in dollar terms
- Identify key metrics of effective plays
- Develop stronger plays over time
While there may be ongoing effects from plays and campaigns in the market, this framework helps you measure your channel marketing plays inside a given period. The result is that you can identify what works for your business, and build new channel marketing plays accordingly.
What you need to measure channel marketing effectiveness
You know you need resultant sales data to determine how effective your marketing activities have been, but partners can be reluctant to share those particular details—which makes it hard to track campaign ROI.
So, you have to come up with a way to get the details you need, without breaching the confidentiality of your partners’ proprietary information.
You can do this by developing plays that offer split-level reporting. Partners receive the full list of interested parties and interactions, while you get the overview stats. This helps your partners act on leads generated by campaigns faster, and also lets you keep tabs on how effective the campaign is at generating interest in its key market.
The second point worth considering is giving partners reasons to register sales that result directly from a particular play with you. Now, deal registration systems are common enough, and partners are familiar with reward systems that offer incentives for recording qualified leads and sales. But, they can fail to deliver when partners find it too hard to register their deals, or when partners feel that the reward isn’t worth the effort—so they put it in the too-hard basket.
For channel marketers then, this means you need to deliver a transparent reward system that’s easy to use, and offers rewards that matter—such as improved access to sales plays and marketing assistance. This way, you get access to sales volumes that arise directly from your plays, while your partners are able to close larger deals more often.
Proving marketing ROI? We’ve got you covered
At Elastic Digital, our demand generation platform—the Grid—comes with split-level reporting built in. Our clients use it to empower their partners with real-time lead alerts that make it easy to see who’s ready to buy—while viewing high-level campaign statistics that maintain the confidentiality of their partners’ customer details.
This is backed up with a dedicated lead management system hosted by the Grid that lets partners view and change their leads’ status, helping our clients keep tabs on qualification rates and other important metrics.
Combine this with your own deal registration program and you’ve got what other channel marketers dream of—a system that takes the guesswork out of calculating campaign ROI by tracking play metrics from launch to sale. Now you can measure partner influence, confirm campaign success and work on new plays with details drawn from real-world results.
If you’re interested in building plays in this way—plays that drive demand and revenue, while enabling partners to close bigger deals more often—get in touch with Elastic Digital. We’d be happy to discuss your marketing goals, and show you how our solutions can help you build campaigns based on measurable ROI.