It is essential that you track and analyze your MDFs accurately, as it allows you to understand the effectiveness of your marketing activities. If you can see which strategies result in a positive return on investment (ROI) and which do not, you can better allocate resources for future campaigns. When done correctly, MDFs can be used to increase brand awareness, drive demand, and build relationships with key partners. To maximize the impact of MDFs, it is important to have a plan in place and to track results carefully.

Reporting Tools

Have you ever heard that you can predict the future by looking at the past? While you may not be clairvoyant, it is easy to forecast budgeting needs by tracking and analyzing previous use of your Market Development Funds. By doing this, you can create a budget plan that is based on facts and effective for the future growth of your partner community. 

Partner Portals

A partner relationship management software or PRM is vital to communicating with your partners and tracking MDF progress in real-time. PRMS makes it easy to analyze and forecast sales channels and determine which partners are performing the best and using the most effective strategies. You can also easily track ROI (return on investment) with a PRM to know if any budgetary changes need to be made. 

List of KPIs

What is a KPI, and how do you track them? KPIs are known as Key performance indicators, and they are tracked by taking your vendor's metrics and turning them into valuable pieces of data to tell you where vendors are thriving and where they may be hurting. Key Performance indicators differ for every industry and even every company. The first step to tracking your KPIs is creating a KPI library or list of KPIs. Some examples of KPIs you might track include:

• Conversion Rates
• Lead Scores
• Keyword Performance
• Profit and Loss
• Relative income per customer type
• Revenue per vendor 
  

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