Channel Marketing Strategy – Setting Channel Vision

Channel Marketing Strategy – Setting Channel Vision


Hi I’m David English president of TSL
marketing. Thanks for watching our video today on channel marketing vision. We’re
going to talk a little bit today about how do we set the vision for our channel
marketing programs. You know it’s interesting, I start off a lot of my conversations with
customers around “what is it that you want to accomplish?” In the last year or two I’ve
been getting a lot of response back from our customers as “what do you think I
should be accomplishing?” So we wanted to talk today about just that. For our
entire channel marketing program, when we’re investing in channel marketing,
“what is it that we want to accomplish?” And, they’re really three things that I
like to focus on. First is total partner revenue and we want to look at this in
aggregate. So, how much revenue are we doing in the channel in aggregate,
against the entire investment that we’re making in the channel from a marketing
perspective and then looking at it at a partner over a partner level. Again we
may have fluctuations year over year depending on the type of partner and
renewal cycles. So, we may want to look at it both for one year, as well as rolling
three-year averages. But, really looking at that total partner revenue and
year-over-year growth. So, is that partner growing? And this may seem super obvious,
but in many cases for channel marketing programs we see that our customers
aren’t really even looking at that. They tend to look at metrics further down,
“lower level KPIs” is what I would call them. And, secondly margin. Is that partner
creating more margin for us year over year, or less margin? Or, are they
selling higher margin products, or are they selling things that continue to sink in
terms of our total margin? So, this is extremely important. Next love to look at
partner loyalty and this is this can be a little more difficult to measure, but
it is something that I think is hugely important. So, are all the marketing
efforts we’re doing creating more or less partner loyalty? In other words do
partners appreciate what we’re doing and do they reward us for that? We can look
at things like wallet share. So of the investments that they make or of the
investments their customers make, are we getting more of them or less of them
year over year? How much of their spend goes to us versus
our competitors and then brand advocacy. This can be even more difficult to
measure but it is important to look at. So, are their reps promoting us? Are they
promoting social media platforms? When there’s a
competitive bid are they going to bring us up and advocate for us over our
competitors? Or, are they just going to sell whatever is the easiest thing to sell?
And, then finally we do absolutely always want to look at channel marketing spend
ROI. So, of the dollars we spend can we tie a return to that? Now I always think
this is important & I will always advocate that this is a very important metric for
us. But, it should be looked at and viewed as a subset of total partner revenue. So,
look if we’re investing in marketing dollars and maybe there’s a low direct
ROI that we can tie to it; but that partner is selling a lot more
year-over-year, then let’s talk to the partner about, okay what is it that we’re
doing that’s helping you? Should we continue to make investments in the
areas that we’re investing in? And is that part of what’s helping you? Or, if
these investments aren’t doing anything at all for you great we’ll take them
away. But if they are, let’s keep doing what we’re doing because you’re
selling more year every year and that’s a great result. The other is that
we may see that there are certain investments that help increase partner
revenue, but don’t have a direct ROI. There are a lot of things like partner
enablement, helping partners with marketing plans, marketing training. Can
we tie in ROI to those? Maybe. We might have to stretch a little bit to try to
figure out how do we how do we really get ROI on those. But we may ask our
partner, look here are some things that we’re going to invest in, we’re not
exactly sure if we can measure return on these. But if we give you these three
things which would you like the most for even money? And, the partners can tell us. “Hey look I really love that training you’re doing”. Or, “hey I really like the
planning you’re doing” or, “these enablement resources”. Or, maybe over here “yeah if it’s free we’ll take it, but we don’t get much value out of it”. Those are
the sort of things that we can look at, in terms of asking partners how much
value they have. Because tying a direct ROI to that spend it can be very
difficult and so that’s why I always think that that overall partner
marketing revenue is so much more important of a metric than than just the
channel marketing ROI. Because this will limit the sort of things that we do. We’re just going to focus on high yield activities for the partners that can
close the best business, net new business typically versus overall.
Anyway, I hope this helps us you try to think through setting your own channel
marketing vision and channel marketing strategy and what sort of metrics you
should use to drive your decision making. And we hope to hear from you
soon, thanks!

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