Many Australian SMEs rely on reseller channels to expand their reach, but simply having partners isn’t enough. To truly accelerate growth, we need to invest in joint marketing activities. Partner Marketing Funds (PMFs) are a powerful way to do this, but they need careful planning to deliver a return. Too often, these funds sit unused or generate minimal impact. We’ve seen this repeatedly with our clients.
A PMF is essentially a pool of money allocated to support marketing initiatives undertaken *with* your reseller partners. It’s not just about giving them money; it’s about collaborative investment in activities that drive mutual benefit. Here’s how to make them work:
- Define clear objectives: Before allocating a single dollar, identify what you want to achieve. Is it lead generation, brand awareness in a specific region, or driving sales of a particular product? Objectives should be SMART – Specific, Measurable, Achievable, Relevant, and Time-bound.
- Tier your partners: Not all partners are created equal. Allocate fund amounts based on performance, commitment, and potential. A high-performing partner deserves a larger share to fuel further growth. This incentivises partners to invest in your solutions.
- Pre-approved activities: Don’t give partners a blank cheque. Create a menu of pre-approved marketing activities – things like joint webinars, localised content creation, social media campaigns, or participation in industry events. This ensures brand consistency and focuses spending on proven tactics.
- Results-based reimbursement: Tie fund access to measurable outcomes. Instead of upfront payments, reimburse partners based on leads generated, qualified opportunities created, or sales closed. This ensures accountability and maximises ROI.
We also recommend establishing a simple claim process and regular performance reviews. Transparency is key. Regularly analyse the results of PMF-funded activities to identify what’s working and what isn’t, and adjust your strategy accordingly. Don’t be afraid to experiment, but always track your results. Looking ahead, consider integrating your PMF management with your partner relationship management (PRM) system for streamlined administration.
Ultimately, a well-structured PMF isn’t an expense; it’s an investment in a stronger, more productive reseller channel. The next step is to audit your current partner program and identify opportunities to introduce or refine a PMF strategy. A focused approach will unlock significant growth potential.
