Services
Vendor-Supported Accountability Groups
More Effective Use of Marketing Development Funds (MDF)
Benefits of utilizing a third-party Accountability Group to get more effective use of your Marketing Development Funds (MDF)
Expert / Experienced Guidance:
With the help of an experienced facilitator, partners can receive expert guidance on how to use MDF more effectively. The facilitator can help partners identify the most effective ways to use their MDF, such as targeting the right audiences, selecting the best channels and tactics, and measuring results.
Personalized support:
A third-party accountability group can provide personalized support to partners, helping them to identify their individual goals and needs, and tailoring their MDF usage accordingly. This can help partners achieve better results from their marketing activities and increase their overall success.
Enhanced accountability:
By participating in a third-party accountability group, partners are held accountable for their use of MDF. The group provides a supportive yet challenging environment where partners can discuss their progress and receive feedback and guidance on how to improve their results.
Greater focus:
By working with a third-party accountability group, partners can stay more focused on their marketing goals and priorities. This can help partners avoid distractions and ensure that their marketing activities are aligned with their overall business goals and objectives.
Increased collaboration:
A third-party accountability group can promote greater collaboration between partners, allowing them to share best practices and learn from each other’s successes and failures. This can lead to a more effective use of MDF and better results for all partners involved.
Improved reporting and measurement:
With the help of a third-party accountability group, partners can establish clear goals and metrics for their use of MDF. This can help partners track their progress and measure the effectiveness of their marketing activities, allowing them to make adjustments as needed to improve results.
Enhanced vendor support:
By working with a third-party accountability group, partners can receive enhanced support from the vendor. The vendor can provide additional resources and training to the group, helping partners to maximize the impact of their MDF and achieve greater success with their marketing activities.
BizAdvisoryBoard works with its vendors along with their partners to align partnership goals. The vendors partner account manager received a monthly report on how they are performing, is also involved on a quarterly basis to participate on partnership goals and objectives. Overall, it’s important for vendors to carefully evaluate the costs and benefits of outsourcing their accountability groups to a third-party administrator, and to regularly monitor and adjust their programs to ensure they are achieving the desired ROI.
If you are a vendor looking to provide accountability groups or a partner that would like their vendor to participate, contact Paul Daigle 407-461-0061, Paul.Daigle@BizAdvisoryBoard.com
Supporting Material
Entrepreneur – An Accountability Partner Makes You Vastly More Likely to Succeed