This article is helpful for channel and marketing managers who manage marketing development funds (MDF) for various campaigns.
MDF can help marketing managers create more effective campaigns by giving your partners the necessary tools to expand the market for your product.
As you develop a campaign to promote your newest product, you have to step back and create a strategy that incorporates your partners, who are a critical component to expanding your market. What do your partners need to do to expand the market for your product? The answer may be MDF.
Partners develop materials or conduct events as part of the process of selling vendors’ offerings, and the vendors allocate MDF to reimburse the partners for the expense. The MDF Approval Plan feature will help you budget funds for marketing that can be utilized by your various partner organizations.
The MDF Approval Plan tool is a great way to keep control of funds but also to be considered as an enablement tool for your marketing efforts.
A common partner complaint is that there is too much red tape in order to receive MDF funds for their efforts. The MDF Approval Plan makes it easier for partners to log in to the portal, view available funds and request them immediately. In return, the marketing manager at the vendor can quickly accept or reject the request from a partner. By gaining easy access to manage these funds, these features drive value for partners and also provides a high level of marketing ROI for vendors.
With the MDF Approval Plan and request feature, the implementation of MDF programs becomes easy, predictable and ROI focused.