We work with a lot of clients who need help managing their local marketing budgets. Managing, allocating and approving requests across a number of marketing budgets – from co-op to market development funds; advisory council budgets to target market funds and more – can become a complex task.
Apr 23, 2015
Marketing resource management (MRM) isn’t exactly a topic of most business conversations. In fact, most people don’t even know the solution exists or understand how it can solve marketing challenges and help them reach business goals.
Encourage vendor participation with solid MDF, co-op program
Market development funds (MDF) and co-op funds are one way to effectively reach local audiences. Managed correctly, these tools can motivate and incentivize affiliates, channel partners, resellers, distributors, or other third party sellers to put your brand’s message in the local marketplace with company-approved campaigns.
“A penny saved is a penny earned.” We’ve all heard the wise words of Ben Franklin at some point in our lives. And when it comes to your personal finances, it’s generally pretty good advice. Even when it comes to business, specifically your co-op / market development fund, there’s a tendency for leadership to be content with money going unspent – it helps the marketing and sales teams finish the quarter or year within their budget and the leftover money simply drops to the bottom line. But when you really look at the numbers, sorry Ben; a penny saved is revenue left on the table.
Sep 17, 2014
Who doesn’t want to spend money wisely? When it comes to using co-op or market development funds (MDF), effective fund management at the local level is the key to success.