WHITBY, Ontario--(BUSINESS WIRE)--IDG Research’s new study, The State of Channel Marketing, has revealed an industry at a crossroads.
According to the survey commissioned by 360insights, the originator of the Channel Success Platform™, the majority of channel marketers recognize that while channel marketing is having a positive impact, it’s not living up to other investments. Despite this, budgets are not under threat with 40% expecting to increase spending over the next 12 months.
“The results of the IDG survey are exciting to us as it demonstrates that there is an opportunity – and desire – to improve,” said Jason Atkins, Founder and CEO, 360insights. “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 3rd party data, topped the list, with 59% 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, Precima. “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% 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.
360insights.com is the originator of the Channel Success Platform™, the first truly integrated software-as-a-service platform enabling brands to optimize their partner marketing and consumer incentives spend. Based in Whitby, Ontario, the company serves over 100 of the world’s top brands and has expanded to have operations around the USA and UK. In the past year, 360insights has raised over $40 million in private investment capital to accelerate the global growth and adoption of it’s Channel Success Platform™ and also won a succession of awards for growth, most notably a Deloitte Fast 500™ for being one of the fastest growing technology companies in North America. With a company culture built around the simple concept of happiness, the company was awarded Employer of the Year honors in the Toronto Region Board of Trade’s 2016 Business Excellence Awards and has been recognized multiple times as one of Canada’s Best Small to Medium Employers.
For more information and resources on 360insights.com, please see: http://www.360insights.com/newsroom.