B2B marketers are forecasting improved results from their channel partner programs this year, with virtually all anticipating partner attributed revenue to increase. That’s according to the Channel Partner Marketing Benchmark Survey [download page] from Demand Gen Report and Channel Marketer Report, which found 23% of practitioners surveyed expecting partner attributed revenue to climb by at least 20%.
Indeed, respondents will be making attributable channel partner ecosystem generated revenue their most prioritized goal this year, ahead of channel-acquired new customers and channel-generated leads.
To help get there, almost two-thirds (64%) report that they will increase their channel marketing budget, while an additional 28% will maintain their 2022 budget and just 8% decrease it.
B2B practitioners will largely be relying on existing partners to drive their gains, as only 1 in 8 will increase the number of partners in their channel ecosystem significantly. About half will marginally expand the ecosystem; the resulting 64% who expect some degree of increase is down from more than 80% last year.
Part of the way in which B2B marketers will expand without adding to their overall channel rosters is by engaging more non-transacting agents. Some 43% will launch a structured referral program that compensates non-selling partners for generating leads that ultimately convert to partners. Moreover, 52% will incentivize, reward, or otherwise compensate a variety of partners – thought-leaders, influencers, and/or subject matter experts – to influence potential customers.
The use of incentives emerges as an area that looks like it’ll be growing this year. When asked which of various partner ecosystem program solutions they’ll upgrade or implement in the next year, a leading 52% of respondents pointed to channel incentives and program management. That’s up from 43% who said the same last year. Channel incentives can motivate partners to sell more products and services, increasing the overall sales performance of the distribution network. Offering channel incentives and implementing effective program management can also improve the relationships between manufacturers/vendors and their channel partners, with effective program management helping identify which incentives work best in different contexts and with different channel partners.
Partner relationship management platforms are also on the rise, with 38% expecting to upgrade or implement them, up from 31% last year. In combination with greater use of incentives and program management, this suggests an increasing emphasis on data-driven decision making, collaboration, and efficiency in channel marketing programs.
Other Survey Highlights:
- About 3 in 4 (74%) said their company’s current overall program to sell and market products and services through their partner ecosystem is at least somewhat effective, though just 15% deem it very effective.
- Only 1 in 5 feel that their channel program technology stacks are insufficient for current needs.
- Sales training and customer event support/funding are the top partner support activities offered.
- Website content and co-branded collateral are the most common marketing content materials offered to partners.
About the Data: The results are based on a January-February survey of 116 B2B practitioners, a plurality (41%) of whom work in the software/technology industry.
