By Louis Gudema, President, Revenue & Associates
Companies that market more grow faster. Enterprises know this; that’s how they got big. According to Deloitte, on average enterprises spend about 11 percent of their expenses on marketing. It can vary considerably by industry, with software companies spending about 15 percent and manufacturing companies spending 8 percent. And many studies have confirmed the value of this; my own study of dozens of software companies with 50-1,000 employees found that those with the most robust marketing programs grew about five times faster than those with weak marketing programs.
But most small companies — and this includes many channel partners — don’t invest anywhere near as much in marketing. In many cases they’re not even spending 1 percent of expenses on marketing. As a result, they grow far more slowly than they could and, critically for the vendors with whom they partner, they sell through far less product than they might.
Why aren’t they marketing more? There are a few reasons:
It’s not uncommon for companies with channel programs to be underserved by their marketing-deficient partners. But they can change that.
Companies often offer programs of all sorts to support their channel partners. But few are the companies that help their partners scale and improve their marketing. This is a real opportunity.
A successful marketing enablement program for partners must include two parts:
Companies with weaker marketing programs may benefit from following …
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