First conducted in 2014, the 2020 Foundry* Partner Marketing research continues to provide insight into the benefits and challenges of partner marketing, and the partner initiatives that companies have in place. This year the study found that 62% of those involved in partner marketing decisions believe that partner marketing is a necessary tactic that provides great value, followed by 21% who say it provides some value. In order to get the most value out of partner relationships, both parties must understand each other’s goals and challenges – especially when respondents say that one of their main impediments is misaligned goals and priorities with partners. Dive into the research report below to ensure your partner marketing objectives always align.
- Having a documented partner marketing strategy is essential – 82% of respondents say they do, and this increases the value that partner marketing efforts provide (85% when a documented strategy is in place vs. 75% when there is no strategy.)
- Organizations are investing in partner marketing – 37% of overall marketing budget is spent on partner marketing initiatives and 68% expect this number to increase in the next 24 months.
- The top objectives of partner marketing are revenue generation, increase sales engagement/joint selling, generate brand awareness, attract new customer segments and increase partner engagement.
- On average, partner marketers experience 3 challenges to partner marketing success, with the most cited being lack of partner commitment and too many competing priorities.
To request a meeting with a Foundry sales executive to walk through the full study, please complete the form at the right.
To better understand how to benchmark your partner marketing efforts, download the white paper.
*previously IDG Communications, Inc.