While channel marketing is having a positive impact, it’s not living up to other investments, according to new research from channel success platform originator 360insights, conducted by IDG Research.
The firms’ new study, The State of Channel Marketing, reveals an industry clearly in transition. The findings show that despite not meeting investment expectations, budgets are not under threat—40 percent are expecting to increase spending over the next 12 months.
“The results of the survey are exciting to us as it demonstrates that there is an opportunity—and desire—to improve,” said Jason Atkins, founder and CEO of 360insights, in a news release. “Channel marketing has matured beyond demand generation and the focus is shifting to data driven decision-making. The ability to identify not just what was purchased and when, but why is transforming the industry and will give program managers the ROI they are seeking.”
The study also identified the challenges faced by modern channel marketers, which are typically tool and system related. Limited analytics, such as gaining access to third-party data, topped the list, with 59 percent of respondents identifying insufficient visibility into sales activity as their top challenge. Also of concern are processes that require a lot of heaving lifting and difficulty optimizing resources.
“Every industry in the next 10 years is going to be significantly changed by technology and analytics,” said Brian Ross, president of customer analytics firm Precima, in the release. “Consumer purchasing behavior opens up boundless possibility for insight, giving channel marketers the opportunity to be at the forefront of this change.”
The good news is the industry is already changing, with 57 percent of survey respondents having made “fundamental changes” in the past 12 months. End-to-end solutions that provide a holistic view into real-time data and analytics seem set to benefit significantly from the shift.