Not too long ago, the direct sales teams, internal to the vendor, were receiving far more attention than any indirect/channel business. Vendors are starting to realize that using a direct sales force is prohibitive in comparison with the cost of using channel partners. So vendors are now investing huge resources into channel partner marketing.
Partner channels are very complex and in order to understand them, channel marketers have to base their decisions from real numbers and not rely on trial and error.
[Enter Analytics: Stage Left]
All website owners understand the value of website analytics, but in the world of channel marketing, how can it be leveraged to benefit both the channel marketer and the channel partner?
A Different Animal
Your normal analytics platform will provide data about activity on that website such as number of visits, time on site, bounce rate, exit rate, pages/visit etc. But, what about who was visiting? Who took that action? Not only that, but as a channel marketer I’m flying blind if I have zero insight into how my channel marketing efforts are really playing out.
Here’s how shared analytics through a partner demand center can help you gain the visibility needed to help your partners:
1) Understand How Your Money is Used
According to Forrester’s recent forecasts for 2013, approximately $1,357B will go through the IT channel and about $63B is allocated towards channel marketing. That’s an estimated 30% increase in spend for this year. But did you know that an estimated $25B will go unused?
WOW.
Vendors pump cash into their channel without seeing how it’s really spent. How can you understand your expenditure without have a 360 degree view of how it’s been used?
Channel partners need support with their marketing and need up-to-date product information, so leaving them to their own devices does not work. But using a platform that helps them market more effectively and helps you understand if they’re using the funds is a god-send!
Bottom-line: Shared analytics provide you with simple data that shows how engaged your partners are and if they are using your funds in an effective manner.
2) What Marketing Resources Work
Are you able to scale marketing resources for your entire partner network? Well, that’s another post in itself. But, if you are using a partner demand center then what resources, that you have provided, are being used? Do you know what resources are right for your industry and partners? If so, what are producing results?
Bottom-line: Unless you have a system in place to see which of your resources or tactics are effective with your partner community, then you’ll continue to waste money in areas that do not produce ROI.
3) See KPIs
When time is of the essence, high level statistics are all you’re able to work with – so channel marketers will look at key performance indicators (KPIs) to give them a quick overview of how their program is performing. In some instances, you’ll want to dive in deeper to understand what is and what’s not working.
Bottom-line: Shared analytics provide an excellent way for channel marketers to see all statistics as well as those KPIs for measuring performance and growth.
Until you have these systems in place for your channel program, you’re not really able to understand your ROI. It also limits your ability to automate information sharing as a channel marketer to your channel partners.
We would love to know your thoughts on shared analytics. Would it benefit you? How else could it be used? Let us know by using the comments section below!
