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Are you a VAR (value-added reseller) looking to boost your marketing efforts but unsure how to tap into joint marketing funds offered by manufacturers? You're not alone! Many VARs struggle to understand and take advantage of these opportunities fully. Still, with some knowledge and planning, you can use joint marketing funds to supercharge your marketing campaigns and drive more sales.
So, what exactly are joint marketing funds, and how can they benefit your business? In this article, we'll provide the 411 on joint marketing funds for VARs, including how they work, how to access them, and how to make the most of this valuable resource.
Joint marketing funds are essentially pools of money provided by manufacturers to their partners (like VARs) to help fund marketing efforts that promote the manufacturer's products or services. These funds can be used to cover a wide range of marketing expenses, including advertising, events, social media campaigns, content creation, and more.
Manufacturers offer joint marketing funds for a variety of reasons. For one, it helps them get their products or services in front of more potential customers. Manufacturers can reach new markets by investing in their partners' marketing efforts and increasing their overall brand visibility while having other credible companies endorse their products, software, and/or services. In addition, joint marketing funds can help manufacturers build stronger relationships with their partners and incentivize them to promote their products more aggressively.
The first step to accessing joint marketing funds is to determine which manufacturers offer them. Many manufacturers have specific programs or portals for their partners to apply for joint marketing funds, so it's worth checking with each manufacturer you work with to see if they have any available funding.
Once you've identified which manufacturers offer joint marketing funds, the next step is to apply. This process can vary from manufacturer to manufacturer, but you'll need to provide information about your business, your marketing plans, and how you plan to use the funds. You may also be required to submit a budget and marketing plan for review.
It's important to note that joint marketing funds are not guaranteed, and manufacturers may have specific criteria for which partners are eligible to receive them. However, with a well-planned marketing strategy and a clear understanding of how the funds will benefit both your business and the manufacturer, you can increase your chances of being approved.
So, you've been approved for joint marketing funds – now what? To make the most of this opportunity, it's important to have a clear and well-defined marketing plan in place. This means identifying your target audience, outlining your marketing objectives, and determining the most effective tactics and channels for reaching your goals.
One key to success is to align your marketing efforts with the manufacturer's goals. Remember, the manufacturer is providing these funds to help promote their products or services, so be sure to focus on highlighting the value and benefits of their offerings.
It's also important to track your results and measure the impact of your marketing campaigns. This will help you understand what's working and what's not and allow you to make adjustments as needed. By demonstrating the success of your marketing efforts, you may also be more likely to receive additional joint marketing funds in the future.
A study by Marketo found that companies with formalized channel marketing programs, which often include joint marketing funds, saw an average of 32% higher revenue growth compared to companies without such programs.
Joint marketing funds can be a powerful tool for VARs looking to increase their marketing efforts and drive more sales. By understanding how these funds work, how to access them, and how to make the most of them, you can leverage the resources provided by manufacturers to boost your marketing campaigns and achieve your business goals.
Joint marketing funds can be a valuable resource for VARs looking to increase their marketing efforts and drive more sales. By understanding how these funds work, how to access them, and how to make the most of them, you can leverage the resources provided by manufacturers to boost your marketing campaigns and achieve your business goals. Need help building your strategy? Start with our quiz and evaluate your current program.
