Even though the goals of marketing efforts are relatively static, the strategies in which channel marketers utilize are ever changing. In our current digital landscape, there are many savvy tools, tricks, and tips that are available to help make marketing through a channel easier and more cost effective. From understanding your target market to implementing through-channel marketing automation, these tips below will help you better understand how to use marketing development funds (MDF) more effectively so your indirect sales strategies become more successful.
Tip # 1: Focus on Building Your Buyer Persona First
A buyer persona is a semi-fictional representation of your company’s ideal customer based on data, research, and trends about current and prospective customers. Building these personas before any other marketing action is key to utilizing marketing funds effectively, so it is important to be as detailed and thorough as possible. When creating these personas it is imperative to take demographics, behavioral patterns, and wants/needs into account to better understand the type of customer you are trying to attract and how to retain them. Getting a factual idea of who your target market is and how they prefer to be marketed to will undoubtedly set channel marketing efforts up for success as there will be no guessing with your directed strategies. Being able to understand where to focus efforts and how to get marketing messages across successfully will obviously keep channel marketing funds from being used wastefully.
Tip # 2: Implement Automation
In today’s digital world, there should be no reason as to why automation isn’t already a part of your channel marketing efforts. With an effective strategy, a through-channel marketing and sales automation platform can help your channel save a lot of time and energy and provide great benefits to your growing company. From customized solutions, flexible funding options, and automated campaign execution, automation simply needs to be integrated into your channel marketing strategy if you want to continue to be a key player in your industry. Besides the obvious positive features of automation, there is also the likelihood of better synergy between the sales and marketing team, increased MQL (marketing qualified leads), higher customer retention rates, and more. Implementing automation into your CRM processes also provides the ability to create personalized and more effective messages to customers without increasing staffing costs, too.
Tip #3: Utilize Analytics and Track Data
Tracking channel marketing efforts and recording data is crucial for confirming that your marketing dollars are being spent in the most effective way possible. At first, it may seem a little overwhelming to interpret all your through-channel marketing data, but fortunately there are several digital services offered that make your life as a channel marketer a little easier. Google Analytics, HubSpot, and Radian6 by Salesforce are all great tools that each offer a little something different for your business. With these tools it is suggested that you focus on these four essential metrics for digital marketing measurements:return on investment (ROI), conversion rate, cost per lead (CPL), and revenue per lead. Measuring these results help form new campaigns and content to continuously yield positive efforts, and help marketers determine where to focus their dollar to get the more appropriate message across to their target market. If your marketing team is working hard to use the marketing budget in the most productive manner possible, it only makes sense that your efforts are being tracked and analyzed to see what works and what does not.
Tip # 4: Focus on the Best Digital Platforms for Your Business
It is easy for businesses to feel a bit overwhelmed with all of the different options for targeted digital advertisements nowadays. Depending on what your channel marketing goals are, there are an abundance of choices available in terms of nontraditional, digital advertisements. It is important to first define your marketing objectives and fully understand your buyer personas to determine the best choice for your strategy so your advertising dollars don’t go wasted. Linkedin, Google, and Facebook are only a few of the many platforms that offer ad space for your company. It really isn’t necessary to advertise on all of the digital platforms available, which is what most marketers unfortunately get wrong. It is so important to track and analyze data so your channel marketing efforts are executed in a strategic, practical manner.
If you are serious about making sure your marketing dollars are being spent in the most successful way, be sure to put these tips into action and get ready to see your marketing efforts steadily improve.
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