LakeB2B follows a successful process with MDF deployment for Partners of software industry to ensure the allocation of budgets across various channels.
Here’s a comprehensive solution with percentage allocations based on industry standards for MDF Fund deployment and marketing budgets within 2 Quarters
Assessment and Planning
- Partner Evaluation: Assess potential software partners’ strengths and weaknesses to align with goals.
- Objective Setting: Define clear goals for lead generation, revenue growth, and product/system implementation with the Partner.
Strategic Allocation
- Fund Allocation: Work with the MDF funds allotted to specific software implementation partners based on their capability to generate high ROI reaching Target Personas and Total Addressable Market.
- Marketing Plan Development: Collaborate with partners to create comprehensive marketing plans leveraging MDF effectively.
Campaign Execution
Allocate the MDF allotted along with Additional Budgets from the Software Implementation partner across various channels as follows:
- Data (25% of MDF): Target Personas and Ideal Customer Profile outreach
- Digital Advertising (20% of MDF)
- Search Engine Marketing (SEM): 10%
- Social Media & Display Advertising: 10%
- Content Marketing (10% of MDF)
- Blog Posts and Articles, Whitepapers : 5%
- Video Content & Infographics and eBooks: 5%
- Email Marketing (20% of MDF)
- Telemarketing, Events and Webinars (20% of MDF)
- Telemarketing: 10%
- Hosted Webinars, Industry Events and Trade Shows: 10%
- Net New Direct Outreach (5% of MDF)
Performance Tracking
- Metrics and KPIs: KPIs to measure the success of MDF-funded activities.
- Regular Reporting: a weekly and daily reporting system for partners to track progress and outcomes.
Optimization
- Data Analysis: Analyze performance data to identify successful strategies and areas for improvement.
- Strategy Adjustment: Refine and optimize campaigns based on insights gained from performance data.
ROI Evaluation
- Investment Review: Review the ROI of MDF deployment at the end of each quarter. Starting Second Quarter push for result based fund usage
- Investment Flip: Based on performance, decide on continued investment or reallocation of funds to new initiatives.
Software Implementation Industry Statistics for Budget Allocation
DATA Procurement and Management
- Data Management (DATA): According to industry reports, Net New outreach and Software Deployment to top firms in your target persona gets high ROI and targeted reach.
- Net New Data: Updating Existing contacts, Reaching net new companies and decision makers by Size of Company and Industry.
- Competitors: Reach other Companies using Similar software from Competition and companies on the Gartner Quadrants etc.
Digital Advertising
- Search Engine Marketing (SEM): According to industry reports, SEM typically receives around 10% of marketing budgets due to its high ROI and targeted reach.
- Social Media Advertising & Display ads: Social media platforms, including LinkedIn, Facebook, and Twitter, generally account for about 5% of budgets, leveraging their extensive user bases and targeting capabilities. Display ads, while often less targeted, are crucial for brand awareness and typically account for about 5%.
Content Marketing
- Blog Posts and Articles: Content marketing, especially through blogs and articles, can generate substantial organic traffic and leads, often accounting for around 10% of the budget.
- Whitepapers and eBooks: High-value content pieces like whitepapers and eBooks can attract serious prospects and usually receive about 5% of the budget.
- Video Content & Infographics: Video marketing is growing in importance, with budgets often allocating 5% for video production and distribution.Visual content like infographics can simplify complex information and attract engagement
Email Marketing
- Lead Nurturing Campaigns: Email marketing remains a powerful tool for lead nurturing, often accounting for around 10% of the budget.
- Newsletters and Promotional Emails: Regular communication through newsletters and promotional emails is vital for customer engagement, typically receiving 5%.
Events and Webinars
- Hosted Webinars: Webinars are excellent for deep engagement and lead generation, often allocated around 5% of the budget.
- Industry Events and Trade Shows: Physical and virtual events help in networking and direct lead generation, usually allocated about 5%.
Direct Outreach
- Account-Based Marketing (ABM): ABM strategies focus on high-value accounts and Named Accounts you want to target – typically receive around 5% of the marketing budget and need personalized approach.
