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With only 8% of available funds utilized from the previous quarter, Vendasta recognized the opportunity to support MSPs.
September 14, 2022
PRESS RELEASE — MSP SUMMIT/CHANNEL PARTNERS LEADERSHIP SUMMIT — ORLANDO, FL — Sept. 14, 2022 — Marketing development funds (MDF) are a resource that IT manufacturers allocate to their Channel Partners based on spend. MDF can be used for sales and marketing programs to help expand the business.
Historically, marketing development funds are a massive challenge for managed service providers (MSPs) and IT specialists to execute and implement. There are stringent guidelines for how they can be utilized. Additionally, with the onset of the pandemic, many in-person promotional efforts like golf tournaments and customer appreciation events have come to a halt. This perfect storm left many MSPs at a loss with how to utilize their available MDF.
In May 2022, Vendasta (Booth 118) sought to partner with a leading IT manufacturer to raise awareness, streamline the use of these funds and provide digital marketing support to MSPs who need it. Kicking off the partnership, Vendasta co-hosted a webinar event with the IT manufacturer to educate MSPs on the importance of marketing development funds.
“It’s free money. You have done the hard work and partnered with an IT manufacturer. You’re trained and certified, you’re selling it through to your customers. You’ve earned that money,” says Vendasta Director of Sales, IT Channel, Andrew Down.
“MSPs tend to be technically minded, they’re not sales and marketing focused. Marketing development funds are a great avenue to kickstart some marketing for your business. Historically MSPs have grown largely by word of mouth with referrals and relationships in their local markets. It doesn’t hurt to have some potential inbound lead flow or content creation and collateral that you could use in sales motions long term.”
With only eight percent of available funds utilized from the previous quarter, Vendasta recognized the opportunity to support MSPs, streamlining the process for accessing these funds.
“By partnering with their IT manufacturer we were able to agree on what would qualify as fundable marketing content and solutions. One of the big risks as an MSP owner, is spending the MDF they have available with no guarantee it would be approved. So we were able to get in front of some of the requirements,” Down says.
Vendasta took on the effort to reach out to dozens of managed service providers, making more than 100 calls, getting in touch with MSPs to offer support and options for utilizing their MDF.
Through a selection of purpose-built digital marketing solution packages, MSPs were able to work with a dedicated Vendasta representative to select a set of solutions that best fit their business goals and budget.
“We were really excited to partner with Vendasta. [They] came to us when we were just beginning our true marketing efforts,” says Managed Service Provider and President of IP Consulting, Cherri Mosey.
“This method will help us meet our leads where they are at, capturing prospective clients who are wanting to buy and coming to us for education.”
With $750,000 available for use in the upcoming quarter, and with help from Vendasta, the manufacturer reports that half of the funds were accessed as a result of the campaign, more than quadrupling previous utilization.
With the foundations set for a successful IT Vendor partnership, Vendasta looks to the future to forge relationships with more major IT manufacturers, continuing to educate MSPs on the benefits of MDF. Find out more about opportunities to use your MDF here.
Read more about:MSPs
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