Get MDF for MSPs
It may seem impossible to get MDF for MSPs these days. Prohibitive paperwork. Scrutinized reporting. ROI requirements you’re not sure you’ll hit. It’s overwhelming. So much so that only 14% of the market development funds earmarked for partners even get used.
That’s a lot of free money left on the table.
Debbie Kestin WINS by Helping Get MDF for MSPs
Running an MSP is difficult, and some vendors want to make it a little easier for you by helping you market to new prospects. It can be challenging to understand the seemingly complex process of applying for and the receipt of Market Development Funds (MDF) and Joint Marketing Funds (JMF). Marketing success is essential for the growth and success of Managed Service Providers (MSPs). If you’re selling a product or service for a vendor or distributor, they truly want to help you succeed, and they earmark funds to do this!
A 20+ Year Career With IBM
Kestin’s background with IBM has endowed her with a deep understanding of channel marketing and partner programs. Throughout the podcast, she shares on the common hurdles that MSPs encounter. These include the daunting terms and conditions associated with these funds, the fear of upfront costs, and the concern over not meeting marketing goals. By demystifying the process and providing actionable strategies, Kestin empowers businesses to confidently claim and utilize these ‘free money’ pools.
Creating Proposals to Get MDF for MSPs
One of the standout discussions revolves around crafting effective marketing proposals within the technology and vendor partnership landscape. Commitment to a well-thought-out plan and the execution of demand generation activities, such as events and social media campaigns, are highlighted as critical elements. Even if they do not result in immediate sales, they are important measurements for vendors.
The podcast emphasizes the importance of tracking metrics and maintaining transparency, especially during multi-vendor events, to ensure fair funding and avoid potential conflicts.
What Kind Of Events Should You Try?
A captivating aspect of the conversation is the playbook shared on hosting magnetic events that not only attract the primary audience but also their families. In the podcast we discuss the success of local sporting events that are family friendly and inexpensive.
You can help create both a memorable experience and a solid foundation for lead generation. We suggest trying a few events and documenting your success.
Applying to get MDF for MSPs is easier when you can demonstrate you’ve hosted successful events before.
Kestin shares tales of past co-marketing successes and underscores the significant advantage of collaborating with marketing firms adept at analytics. These insights are invaluable for MSPs looking to refine their approach to vendor-supported marketing funds.
Make Sure You Understand Each Vendors Terms and Conditions
The discussion extends to practical advice for MSPs on how to access these funds, the importance of understanding vendor-specific terms, and the necessity of planning ahead. Kestin highlights the substantial amounts of money left on the table each year due to underutilization and provides guidance on how MSPs can proactively claim these resources to fuel their marketing initiatives.
Carrie Richardson wrote a great blog post for Managed Sales Pros a few years ago interviewing MSPs and asking them how they recommended getting MDF from their vendors, you can read that here!
No Marketing Team? Talk to an Expert to Get MDF for MSPs
Moreover, the podcast addresses the reality that many MSPs lack dedicated marketing staff. This often contributes to the underuse of MDF and JMF. Kestin’s consultancy offers a lifeline to these MSPs. She can assist them in navigating the application process, and establishing relationships with vendor reps.
Experts can design campaigns that resonate with their target audience.
You’ll want to make sure your MDF request isn’t just right for the vendor – is the event right for the ways in which you need to market to your target clients? Does it fit your marketing theme? Not all events will make sense for all companies. A very upscale MSP priced higher than their competitors likely won’t host an event that serves hot dogs.
Listen to WIN On the Richardson & Richardson Website
Debbie Kestin is a treasure trove of knowledge for any business seeking to elevate their marketing strategy using vendor marketing support.
By unlocking the vault of vendor marketing funds, MSPs are positioned to not only enhance their marketing efforts but also drive significant growth for their businesses.
Want some help planning for marketing success? Richardson & Richardson believes you begin with strategy before tactics. Schedule some time with Carrie Richardson to talk about crafting your most effective marketing plan!
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