Foundry (an IDG, Inc. company), the global leader in media, martech and data for the technology community – releases the 2022 Partner Marketing Study, focused on partner marketing activities within the technology industry. This study measures the responses of technology marketers to examine budgets, goals, and challenges, and provides insights for marketers to evaluate their own efforts and explore how to increase their partner’s marketing success.
This year’s study found that 88% of marketers view partner marketing as a necessary tactic that provides great or some value (51% great value, 37% some value). The observed value is reflected in the planned budgets. Respondents report that 40% of their overall marketing budget is allocated to partner marketing activities, up from 37% in 2019. When asked how their budgets will evolve over the next year, 72% plan to increase their budgets and 20% expect their budgets to remain the same.
Goals and successes partner marketing associate
Overall, 85% of organizations have a documented partnership marketing strategy, and that drops to 89% for enterprises and just 77% for SMBs. When a strategy is in place, marketers are much more likely to experience success. Organizations with a documented partner marketing strategy report that 58% of their partner marketing programs performed well in the past 12 months, compared to 45% of programs in organizations without a strategy and 56% overall .
“The results describe the goals marketers hope to achieve from partnership marketing, and they align with what we hear in the marketplace. A successful partner marketing strategy aims not only to increase revenue, but also to attract new customers, increase sales and partner engagement, while building brand awareness and credibility,” said Rick Currier, Vice President, US Sales and Partner Marketing, Foundry. “With this diverse set of goals, don’t be afraid to ask for help. Think of your partners as an extension of your organization and leverage agencies to help drive results. »
In order to achieve these goals, marketers plan to focus their partners’ marketing efforts on social media presence, branding, content development, demand generation, and events. When asked how they measure the success of their partner marketing programs, more than fifty percent said that the increase in actual customers was related to the total revenue generated by the programs. Additional metrics include strong partner relationships and market share growth.
Keeping the theme of value and success in mind, marketers (81%) agree that they are seeing a shift towards value creation partners, instead of just reselling/developing partners. ‘execution. That being said, organizations report being involved with a variety of partners – technology partners (working with an average of 129), system integrators (average of 108) and channel/reseller partners (average of 130). Partner marketing teams are responsible for managing relationships with multiple partners, and roles within this management include exploring/seeking partnerships (53%), evaluating/measuring the success of partner programs (52%), creating partner marketing programs (51%), managing the partner ecosystem (50%) and overseeing the partner marketing budget (49%).
“As these relationships become more complex, the majority of organizations plan to outsource some partner marketing activities over the next 12 months,” Currier said. “The tactics they plan to outsource fall within the scope of Foundry’s services – social media, events, campaign and program strategy, video production, demand generation – the list goes on. And it’s important to note that more than three-quarters of marketers agree that agency-partnered marketing programs yield better results than in-house managed ones. »
Complexities Create Challenges
Despite the pathway in place to drive success and growth, partner marketers see a variety of challenges. The most important being too many competing priorities (31%), lack of strategy (25%), lack of partner commitment (24%) and lack of resources (24%). Competing priorities and lack of strategy are more important challenges for SMEs (38% and 30%), while only 28% of companies agree that too many competing priorities are a challenge and only 20% for a lack of strategy.
Lack of partner engagement is the second challenge for businesses, but organizations, especially businesses, have strategies in place to increase partner engagement. When asked this new question this year, marketers said they are investing in self-service portals to make it easier for partners to find/activate programs (49%), invest in/create portals to help scale partner programs (44%) and develop multi-partner packages to bring directly to partners (41%).
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