Through-channel marketing automation (TCMA) is a strategic approach to working with channel partners and resellers to co-create and co-execute marketing programs and campaigns. Companies such as Zift, Impartner and Zinfi have accelerated the growth of this space over the last five years however one area sorely lacking the technological advancements that TCMA could provide is Account Based Marketing (ABM).
When enabled with scalable ABM technologies, TCMA can have an additional impact on a both the vendor company’s and the partners overall marketing efforts and revenue growth without increasing the complexity and cost of the programs involved. This combination has been out of the price range for most partners which was an important consideration factor in the development of CapametriX.
One of the key benefits of TCMA is that it allows vendors to leverage the expertise and relationships of their channel partners to reach new and existing customers in a more efficient and effective way. Channel partners often have a deep understanding of their local markets, and can provide valuable insights into customer needs and preferences. By working closely with these partners, companies can create highly targeted and personalised marketing campaigns that are more likely to resonate with their focus audience.
From a recent CapametriX assessment it was clearly shown that over 90% of resellers have between five and ten focused customers that they know and understand well. They also have a similar number of target or growth clients that they are focused on engaging in a rolling twelve-month period. This highlights what a valuable opportunity it is for vendors, to empower their partner sales teams to engage in personalised and consultative conversations with target organisations, leading to a higher potential for a greater increase in sales.
ABM technologies, which at a base layer include marketing automation platforms and customer relationship management (CRM) systems can and should be so much more specific than either of these solutions. Then they can be used to support TCMA efforts by providing a centralised location for managing partner relationships and tracking the success of marketing campaigns. These technologies can also help vendor organisations to segment and target specific accounts, providing more personalised and effective marketing messages.
Another critical benefit of TCMA enabled with ABM technologies is that it can help companies to drive more revenue from existing customers; for example, what we often reference as a “Land and Expand” approach. Channel partners often have long-standing relationships with their customers and can be effective at upselling and cross-selling products and services. By supporting partners to create and execute targeted marketing campaigns, vendors and even distributors can increase the likelihood of closing additional sales with these existing customers.
Even when you exclude the benefits to revenue growth, TCMA can also help companies to improve their overall marketing ROI (a BIG focus for CapametriX). By working with focused and engaged channel partners to create and implement campaigns, vendors can reduce their overall marketing expenses and increase the effectiveness of their campaigns. This is because channel partners often have a far lower cost of customer acquisition than the vendor itself and can also help to increase the overall reach of a campaign; also the main reason that vendors create a channel to begin with, reach, scope and cost of sale all incentivise strong margin retention programs for partners.
A key challenge of TCMA is to ensure that channel partners are aligned with the company’s overall marketing goals and objectives which can often be missed at the early engagement stage and should be a qualifying question not only at the beginning of a relationship but also at QBR’s to ensure continued alignment. This can be achieved by setting clear guidelines and expectations for partners, and by providing them with the necessary training and resources to effectively implement marketing campaigns whilst supporting and educating the sales teams effectively. In addition, companies can use ABM technologies to track the performance of their partners and to provide them with real-time feedback on the effectiveness of their campaigns, calculating ROI without delays.
Additionally, we’ve discovered it’s really important to ensure that channel partners can access and use the necessary ABM technologies. This can be achieved by providing partners with their own access to the company’s marketing automation platform, CRM system, or other ABM technologies, and by providing them with the necessary training and support to effectively use these tools.
We’ve found that TCMA enabled with a scalable ABM technology can have a significant impact on any company’s overall marketing efforts and revenue growth, including the full channel stack from Vendor through to Distributors and Partners of every size and shape. By leveraging the expertise and relationships of channel partners, vendors can create highly targeted and personalised marketing campaigns that are more likely to resonate with their target audience. Furthermore, by using ABM technologies to support TCMA efforts, companies can drive more revenue from existing customers and improve their overall marketing ROI. However, it is important for companies to ensure that channel partners are aligned with their overall marketing goals and objectives and have access to the necessary ABM technologies which is of course where CapametriX steps straight into the limelight!