Channel Sales: an in-depth guide for partners

June 14, 2022 | 185 views

Channel Sales
So, you’re interested in potentially becoming a ‘channel partner’ for a vendor or parent organisation.

Whether you’re already familiar with what channel selling entails, and want to learn more about your options, or the term is a completely new addition to your vocabulary, we’ve created this resource to give you as comprehensive a guide as possible.

Most of the information out there is aimed at the vendors and parent companies themselves, to help them multiply their growth and exponentially raise their profit margins.

So we thought we’d take a different approach, and focus on supporting the needs of aspiring channel sellers themselves.

We’re going to start by explaining everything you need to know from the ground up.

So you have all the information you need to make an informed decision regarding your channel selling aspirations.

Just what exactly does ‘Channel Sales’ mean?

Leading technology consulting firm Gartner defines Channel Sales as…

“The indirect sales channel that a business-to-business (B2B) sales organisation uses to go to market.”

This definition certainly isn’t incorrect, but it doesn’t exactly make the whole dynamic easy to picture.

What does this actually mean in real terms? What does this look like?

Allow us to explain.

The key word to focus on in Gartner’s definition is indirect.

When we imagine a traditional sales dynamic – where a company sells a product that they make straight to an end customer – that’s direct sales.

The reason is, as the name implies, that there is no intermediary or middleman to speak of in this relationship.

The vendor and the customer are in direct contact with one another, and the vendor has complete ownership of the business relationship in question.

Channel sales on the other hand is indirect sales – which means there is an intermediary involved in completing the process.

That intermediary is the channel partner.

A channel partner: in basic terms

A channel partner is an organisation that is contractually enabled to market, sell, distribute, implement, or otherwise deal with the products or services of another company on its behalf.

So if direct sales involves Company A selling to a Customer, channel sales involves Company B selling Company A’s products or solutions to that Customer.

Company B may also manage the relationship with the customer, and oversee the sales process.

Channel sales can take many different forms. But we’ll dig into that shortly.

Still keen to learn more about being a channel partner? Have a look at this infographic

First, let’s contextualise how widespread channel selling is, current attitudes towards it, and how it is proving to be of benefit to more and more businesses.

Channel Sales: The State of Play

In today’s business landscape, channel sales represent a significant driver of revenue for many successful organisations.

According to Forrester, 75% of the world’s commerce consists of sales made via channel partnerships.

The world of channel sales is rich with opportunity. And that means organisations looking to sell, distribute or implement the products and services of other businesses can hope to reap significant benefits.

Recent findings from DemandGen’s 2022 Channel Partner Benchmark Survey suggest there is a bright future ahead for the world of channel sales, especially for the sellers themselves...

Execs are confident in the money-making ability of channel sales
DemandGen’s Benchmark Survey concluded that most B2B executives are confident in channel sales as a reliable route to market.

Despite the fact that many respondents in the survey claimed their own partner programs to be falling short in terms of efficacy, these same business leaders anticipate channel partners will bring in higher levels of revenue in the months and years to come.

As such, leaders and other influential voices in sales strategy are focusing more on their channel partners than before, and investing in them to help expand their sales efforts.

B2B leaders are increasing their channel partners
More than 80% of business leaders have stated they will increase the number of channel partners in their network – and over 25% of them will look to do so ‘significantly’.

Meanwhile, 66% of B2B leaders anticipate more than 11% gain in revenue will be attributable to channel partners.

Channel partners are receiving more investment…
Around 70% of those surveyed in the DemandGen report stated plans to increase their financial investments in channel partner support.

…and other resources too
More than 40% plan to upgrade solutions supporting the training and learning of the channel partners in their ecosystem.

Overall, the data appears to suggest that channel selling is in a healthy state.

Organisations looking to engage in reselling, marketing or distributing products and services can expect greater demand, greater investment, and greater access to resources designed to support sales enablement.

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Marketing Essentials acts as a partner to develop and deliver practical and strategic digital marketing solutions to advance your business goals. Our team offers inbound marketing and sales services including Content Development, Social Media Engagement, Email Marketing, performance based Website Design, SEO, PPC Advertising and integrated marketing systems.

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Fundamentals of Distribution Marketing

Article | May 27, 2022

Are you looking to expand into new markets, boost your sales pipeline, and increase conversions? Whatever your business growth objectives are, a distribution partnership is your answer to all of them. Why are distributors becoming a vital component of business expansion strategies and what is the importance of distribution in marketing? Let us take a look. Distribution Marketing Channels: Achieving More with Distribution Partners The process of making a product or service available to a consumer through a direct channel such as a manufacturer or an indirect channel such as a distributor constitutes a distribution marketing strategy. B2B marketers decide on which type of distributor channel they want to use based on their product and the revenue targets they have in mind. Global suppliers have eroded margins and created an explosion of products catering to even the tiniest market niches. They have disrupted local markets. Consequently, sophisticated logistical systems have been developed to shorten delivery times. Businesses have expanded their distribution network to get closer to their B2B clients. The following statistic says a lot about why B2B businesses are keen to embrace distribution marketing and develop their indirect distribution network. 75% of the world’s commerce is transacted indirectly, meaning goods are sold through distribution channels. (Source: Forrester) In this article, we will be focusing on distribution partners, as channels of distribution marketing, and how they are creating a foundation for businesses like yours to expand and grow while helping you bring your products to your target customers. Distribution Marketing Strategy: Types of Strategies & Things to Consider B2B businesses embrace a new channel of distribution marketing or improve their existing one based on their marketing and management requirements. You can consider going down the same road if you have a new customer segment in mind, are planning to release a new product or want to aggressively grow your revenue. Here are the broad types of distribution in marketing: Direct channel: A direct sales channel is any company or manufacturer that creates its product and sells it directly to customers without the involvement of third parties or intermediaries. The product is sold through a shop, online channels, door-to-door or through any other method. Indirect channel: An indirect sales channel is comprised of—distributors, wholesalers, retailers, and VARs (value-added resellers)—who sell products made by other companies. At times, there may be more than one middleman between the consumer and the product’s producer. Apart from these two main strategies, there are other specialized strategies that fall under these categories, like exclusive distribution, intensive distribution, selective distribution, dual distribution, and reverse distribution. Of these strategies, manufacturers use the product distribution strategy that suits their product and revenue goals the most. Consider the following factors when planning your distribution strategy in marketing: The Type of Product You Sell Your distribution channel marketing strategy should depend on the type of product. Purchase decisions that customers make are classified into three types: routine, limited, and extensive, based on the number of times businesses buy a product, its cost, and the time taken by the customer to make a purchase decision. Capitalize on this information and decide on the strategy that will work best to position your product. Customer Base Based on the types of purchase methods that your target demographic may use, where they make their purchase decisions, and what kind of technology influences them, you need to choose your distributor. Ensuring that your customer base gets access to your product based on its preference is crucial to attracting customers to make a purchase. Logistics and Transportation Whether you sell a software product to streamline business processes or spare parts that automobile businesses require, your product needs to reach your end user safely and on time from locations where your distributor stores it. Understanding a prospective distributor’s logistics and transportation capabilities should be a priority while finalizing a distribution strategy in marketing. Focus on cost-saving and increasing revenue while choosing your distributor. A Strong Game Plan & Bigger Market Reach with Distribution Partners Product, place, price, and promotion are the four Ps of marketing. A B2B company cannot successfully sell its product or service unless it determines its four Ps. This is where distribution comes in. It is the ‘place’ part of every marketing strategy. Distributors are channel partners who are experts at getting your products into as many markets as possible as quickly as possible so that they can be used by end customers. There are tactical and logical advantages to having a strong distribution partner network. Let us explore them in brief. You Can Focus on Your Expertise Your expertise lies in creating the product. Setting up a sales system to facilitate end customers doesn’t categorically fit your skillset. With the help of a good distribution partner, you can limit your sales risk and use your time and resources to make your manufacturing processes and techniques more efficient. Streamline Market Expansion Selling to a new geographical market with the help of a distribution channel partner who has an established retail network can instantly get you more leads and boost your sales. Especially when entering a new international market, you can trust your distribution partner to take care of international trade law compliance, shipping and customs laws, and the culture of the new market. Limited Involvement in Customer Service Distribution marketing reduces your involvement and investment in customer service considerably. All you need to do is be in touch with your distributor partner. You don’t have to think about exercising administrative duties and investing in operations because your distributor will be your face while dealing with end customers. Distribution Partners Fire-up Your GTM Strategy In your go-to-market strategy (GTM), your distribution partners can market your product to large numbers of geographically dispersed customers. Distributors, especially VARs customize your product and complement it with prompt support and specialist services. Here’s how you can go-to-market confidently with the help of distribution partners: After you segment your target market into customers and prospects, identify which of these segments you can reach with the help of distributors. They can utilize their customer base to get you sales in territories with good sales potential. Distributors with experience can cover the market sectors you want to target. Choose distributors who do not market products that compete with yours. To get the most out of the channel partnership, describe the market opportunities for the distributors and talk to them about what you expect and what you need from them. Decide on whether you want to share marketing rights with distributors. Create solid and binding commercial terms such as stock levels, discounts, selling prices, and marketing support beforehand so the distributors are motivated to give their best to sell your product. Distributors develop sales and marketing plans, provide support in the form of marketing collateral, funds, or marketing campaigns. To support their efforts, run marketing campaigns that target your customers and promote your distributor network. Communicate the advantages of buying from your authorized distributors so that you can create and maintain sales leads for your entire distributor network to make your GTM a success. Distribution Management: Refining Distribution Partner Performance Just as it is important to set up a distribution network, it is also important to manage it, optimize it through consistent efforts, and make sure it is a smooth-functioning ecosystem. Managing distribution businesses can empower your distribution teams to manage distributors and the way they sell your product. They can also enable partners to do more for the sales. Distribution management can be streamlined using a distribution management system (DMS). With the help of the following features, this platform helps you run your distribution network well: Partner Recruitment Easily deploy partner recruitment campaigns through single or multiple distributors. Target specific groups of partners through these campaigns to get them involved. Partner Onboarding Help your distribution partners bring on channel partners for short-term channel programs with high returns and low costs. Partner Training Enhance partner competency and development using partner training through the DMS system. Pipeline Management Keep track of how each distributor contributes to your pipeline growth and engage with distributors to increase revenue. Partner Enablement Use your distribution partners to drive multi-partner demand generation activities with co-branded content that your channel marketing teams create. Partner Incentives Deploy partner incentives to motivate distributors and partners they manage. Review their performance and approve their claims. Performance Optimization Get insights into how distribution partners are selling through business analytics and reports so you can accelerate sales, and in turn, boost your revenue. When you use a good distribution management system, you can manage multiple stakeholders, including resellers, distributors, and partners, along with your internal marketing, sales, and finance teams. Your distribution teams can look at sales through distributors and forecast future performance and partner pipelines. They can also use the system to run different programs and campaigns to meet the changing needs of their business. A U.S. Manufacturer Uses ZINFI Platform for Efficient and Effective Channel Marketing VERSATEX, a PVC building products manufacturer, used ZINFI’s partner portal to streamline its marketing so its partners could be more engaged. "We are using the ZINFI portal as our VERSATEX CRM, and it's been working out amazingly. We can track how the salespeople in the field are selling and quickly determine what's working and what's not," said Cassidy Huff, Channel Marketer at VERSATEX. Summing it Up A distribution strategy can revolutionize the way you sell your product in different markets. With the correct distribution channel and strategy, your product can reach your buyer considerably more quickly and help you achieve your revenue goals. FAQ What is a distribution channel? A distribution channel is a network of intermediaries like distributors, wholesalers, retailers, manufacturers, and VARs that a company uses to get its product to its end user. What is the impact of distribution management on business? Efficiently managing distribution partners boosts company sales and profitability as it helps businesses streamline how fast and efficiently they distribute their products in the market. What is the difference between direct and indirect distribution channels? In a direct distribution channel, a company allows its manufacturer or service provider to deal directly with the end customer, whereas in an indirect distribution channel, a company relies on a network of distributors, wholesalers, and retailers to sell its products.

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Kentucky Teen Once Subject of Viral Video Warns Republicans of 'Outrage Mob'

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How Community Coalitions Are Bridging the Digital Divide

Article | August 16, 2022

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Marketing Essentials acts as a partner to develop and deliver practical and strategic digital marketing solutions to advance your business goals. Our team offers inbound marketing and sales services including Content Development, Social Media Engagement, Email Marketing, performance based Website Design, SEO, PPC Advertising and integrated marketing systems.

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Bigger growth opportunities beckon for partners who rewrite the rules of cybersecurity with Infoblox

Infoblox | December 05, 2022

Infoblox Inc., the leader in cloud-first networking and security services, unveils its new partner program today, designed to maximize opportunities partners can secure and deliver. The Skilled to Secure trusted partner program reflects the changing security landscape and shifting customer requirements – and the need for providers of security solutions and services to adapt in response. “The rules of cybersecurity have changed. Customers want more than just another security solution or tool – they have dozens, if not hundreds, already. What they want is to drive more value from their current environment by making it more effective. That’s where Infoblox comes in,” explains Chris​ Millerick, ​Vice President, Worldwide Partner Sales at Infoblox. “The rules of cybersecurity have changed. Customers want more than just another security solution or tool – they have dozens, if not hundreds, already. What they want is to drive more value from their current environment by making it more effective. That’s where Infoblox comes in,” explains Chris​ Millerick, ​Vice President, Worldwide Partner Sales at Infoblox. Infoblox BloxOne® is the first cloud-native platform delivering DDI (DNS, DHCP, and IPAM) and DNS data-enabled threat detections, and offers partners predictable, reliable renewal margins year after year. A Forrester Economic Impact Report found that BloxOne® Threat Defense can deliver a staggering 243% return on investment. Integrated into the security ecosystem, BloxOne® enables DNS data to be used to address blind spots in enterprise threat defense and security systems. Internal and external threats can be identified, prioritized, and remediated in a fraction of the time without significant additional investment in new solutions. In the new program, partners will be assigned levels based on their acquisition of the competencies required to deliver BloxOne® and maximize its value for customers. Chris Millerick continued: “We recognize that an exceptional customer experience requires a level of trust, one that only highly skilled and competent technology partners can provide. Infoblox is privileged to offer partners a program that helps them acquire the competencies required to stand out and grow in the cybersecurity market.” Benefits partners can gain through the new program include partner-hunted sales incentives and deal registration, “Guardians of the Network” rewards and incentives, marketing campaigns, marketing development funds, and demonstration software. The Skilled to Secure program is built around three tracks designed to deliver support across the channel: Value-added Reseller and Systems Integrator, Service Provider, and Value-added distributor. Based on their track record and meeting the defined competency requirements, partners’ awarded level will be announced in May 2023. More information on the program, its structure, requirements, and benefits are available on the Infoblox website. About Infoblox Infoblox is the leader in next-generation DNS management and security. More than 13,000 customers, including over 75% of the Fortune 500, rely on Infoblox to scale, simplify, and secure their hybrid networks to meet the modern challenges of a cloud-first world. Learn more on our website.

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Verizon Channel hosts Partner Advisory Council at Boston Innovation Hub

Verizon | December 05, 2022

Today, Verizon hosts its 2022 Partner Advisory Council (PAC) meeting, giving partners a unique opportunity to collaborate and unlock new program opportunities, while continuing to provide best in class service to customers. Verizon is bringing members of its PAC together, including value-added distributors, mobility co-sellers, wireless business agents, and wireline business agents, to set strategic plans for 2023. Partner feedback will be a critical component of the sessions which will focus on discussing program evolution and enhancements. Partners will have the opportunity to tour the Verizon 5G Boston Innovation Center and view tangible examples of 5G-powered technologies. “This is the first time that our channel partners across the entire channel program landscape will be coming together in person to collaborate, set strategic 2023 plans and drive evolution across all our partner programs." “This is the first time that our channel partners across the entire channel program landscape will be coming together in person to collaborate, set strategic 2023 plans and drive evolution across all our partner programs. We are excited to work together to engage in thoughtful and productive conversations that will empower our channel partners to win in 2023,” said Mike Caralis, Verizon Vice President of Business Markets. PAC attendees will also have an opportunity to take part in a group volunteer activity in honor of Giving Tuesday. Each volunteer will build lifesaving paracord bracelets and military care kits for Operation Gratitude, a Verizon non-profit partner, while learning about their impact and mission. Attendees include leadership from Verizon’s top channel partners, sales and operations teams. Verizon’s channel program has received a 5-star rating from CRN in 2022 and continues to be an industry leader in the channel. Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

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Wunderkind Report Reveals CMO Outlook on Omnichannel Marketing Budget, Greater Revenue Potential in Brand-Customer Relationship

Wunderkind | September 19, 2022

With the height of the global pandemic and the initial onset of the supply chain crisis in the rear view mirror, new research from Wunderkind, a leading performance marketing channel that scales one-to-one messages for top brands, publishers, and advertisers, shows nearly all Chief Marketing Officers (94%) look at the last two years as a critical turning point for marketers. As part of its first annual CMO State of the Union report, Wunderkind sought to understand how eCommerce organizations exceeding $3M in annual online revenue are reflecting on the impact and lessons of the post-pandemic era and predicting the road ahead amid today's tumultuous retail market. The Not-So Silver Lining Although the pandemic, supply chain issues and inflation have proven taxing for brands, CMOs are showing they are overwhelmingly resilient. Despite the decline of brick-and-mortar retail in the last two years, CMOs spotted areas of growth and accelerated the development of omnichannel solutions. Research shows 73% of CMOs met or exceeded revenue projections and 55% were able to increase their overall marketing spend in the last two years. However, while 79% have shifted more of their marketing spend online, only one-third feel this shift will last and 71% of CMOs plan to reduce online marketing spend in the future. "CMOs are now at a crossroad. Innovation has to continue in order to communicate the right message, maintain consumer loyalty, boost revenue, and reach digital maturity," said Richard Jones, Chief Revenue Officer at Wunderkind. "CMOs are now at a crossroad. Innovation has to continue in order to communicate the right message, maintain consumer loyalty, boost revenue, and reach digital maturity," said Richard Jones, Chief Revenue Officer at Wunderkind. "While legacy technology has helped brands begin to reshape their marketing strategies, it has also created seas of disparate data and tools that aren't talking to each other – ultimately impeding brands from unlocking additional tangible revenue streams." Marketing Technology: Unlocking Competitive Advantages With the looming deprecation of third-party cookies, it becomes even more imperative that brands leverage first-party data as a cost-effective marketing strategy to keep customers coming back. While many companies have tapped creative solutions to manage customer expectations, the report shows that without understanding how to fully leverage the technologies brands have invested in, CMOs could be leaving money on the table. Most notably, resource allocation, in-house knowledge, measurement, and the use of first-party data are among the greatest areas of opportunity. Wunderkind found that: While 67% of CMOs rely on their own employees to adapt legacy technology to get the value they need, only 9% believe their tech strategy greatly enables their marketing performance 96% of brand marketing leaders believe there is a gap in knowledge of their technology 90% believe there is a gap in resources holding them back from success Nearly three-fourths of CMOs rely on social media and search engine statistics to measure marketing ROI, while less than half depend on customer experience statistics 60% of CMOs feel prepared for cookie deprecation, but 40% feel there is more work to be done The report also points to some brands remaining overly reliant on external channels and third-party data to target, retarget and acquire new customers. In fact, while first-party data was ranked as having the least positive impact on marketing results, the conundrum remains that if marketers can't recognize a customer for who they are and where they are, it becomes incredibly difficult to effectively scale one-to-one messages through owned marketing channels. Diversity & Inclusion Remains A Priority Amid the growing pressure on brands to customize their communication and use the right channels to authentically reach their audiences, they are also experiencing continued demand to reflect wide-reaching external issues such as social justice, diversity, and sustainability. The report finds: Diversity, equity, and inclusion (DE&I) has the most far-reaching impact on consumer marketing (37%) when requiring involvement from the executive team on marketing strategy Other external factors impacting marketing teams are social issues (33%), environmental issues (32%), and governance/compliance (26%) These issues were notably more pronounced for executives, citing DE&I (65%), governance/compliance (64%), environmental Issues (50%), social Issues (49%) as their top pressures. Pointing to a potential disconnect between how brands address macro external issues from a corporate reputation perspective compared to a holistic omnichannel marketing approach, the consistent takeaway is that brands must keep their customers top of mind. "While many retailers are weathering the turbulent landscape, the fact remains that many marketers' dependence on the status quo – from legacy technology and resourcing to third-party data – is holding their organizations back from unlocking new, critically-needed revenue streams," said Michael Osborne, President at Wunderkind. "Wunderkind is a leader in helping top global brands not only unlock first-party data as cookies depreciate, but also seize the ripe opportunity that lies in a powerful performance marketing channel that also adds value for customers in a holistic brand experience." The survey was first revealed at WUNDER, an invite-only conference hosted by Wunderkind featuring high-profile speakers and attendees from such brands as Rag & Bone, JLo Beauty, Casemate, Washington Commanders, and Spartan. The full "CMO State of the Union" report can be downloaded here. Report Methodology Wunderkind's CMO State of the Union was established as an annual survey to gauge the pulse of CMOs at leading B2C brands. Commissioned by Wunderkind, research was conducted online by Savanta Feb-April 2022 among 107 Director+ level professionals in the US and UK working in organizations with online revenue of $3 million+ annually and in the following roles: executive, marketing, finance, information technology, or operations. Qualitative interviews were also conducted among executives VP level and above at companies with $20 million + in online revenue. About Wunderkind Wunderkind is a leading performance marketing channel that scales one-to-one messages for top brands, publishers, and advertisers. Digital businesses use Wunderkind to remember who site visitors are better than ever before, allowing them to deliver high-performing, one-to-one messages on websites, through emails and texts, and in ads at a scale that's not otherwise possible. 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Bigger growth opportunities beckon for partners who rewrite the rules of cybersecurity with Infoblox

Infoblox | December 05, 2022

Infoblox Inc., the leader in cloud-first networking and security services, unveils its new partner program today, designed to maximize opportunities partners can secure and deliver. The Skilled to Secure trusted partner program reflects the changing security landscape and shifting customer requirements – and the need for providers of security solutions and services to adapt in response. “The rules of cybersecurity have changed. Customers want more than just another security solution or tool – they have dozens, if not hundreds, already. What they want is to drive more value from their current environment by making it more effective. That’s where Infoblox comes in,” explains Chris​ Millerick, ​Vice President, Worldwide Partner Sales at Infoblox. “The rules of cybersecurity have changed. Customers want more than just another security solution or tool – they have dozens, if not hundreds, already. What they want is to drive more value from their current environment by making it more effective. That’s where Infoblox comes in,” explains Chris​ Millerick, ​Vice President, Worldwide Partner Sales at Infoblox. Infoblox BloxOne® is the first cloud-native platform delivering DDI (DNS, DHCP, and IPAM) and DNS data-enabled threat detections, and offers partners predictable, reliable renewal margins year after year. A Forrester Economic Impact Report found that BloxOne® Threat Defense can deliver a staggering 243% return on investment. Integrated into the security ecosystem, BloxOne® enables DNS data to be used to address blind spots in enterprise threat defense and security systems. Internal and external threats can be identified, prioritized, and remediated in a fraction of the time without significant additional investment in new solutions. In the new program, partners will be assigned levels based on their acquisition of the competencies required to deliver BloxOne® and maximize its value for customers. Chris Millerick continued: “We recognize that an exceptional customer experience requires a level of trust, one that only highly skilled and competent technology partners can provide. Infoblox is privileged to offer partners a program that helps them acquire the competencies required to stand out and grow in the cybersecurity market.” Benefits partners can gain through the new program include partner-hunted sales incentives and deal registration, “Guardians of the Network” rewards and incentives, marketing campaigns, marketing development funds, and demonstration software. The Skilled to Secure program is built around three tracks designed to deliver support across the channel: Value-added Reseller and Systems Integrator, Service Provider, and Value-added distributor. Based on their track record and meeting the defined competency requirements, partners’ awarded level will be announced in May 2023. More information on the program, its structure, requirements, and benefits are available on the Infoblox website. About Infoblox Infoblox is the leader in next-generation DNS management and security. More than 13,000 customers, including over 75% of the Fortune 500, rely on Infoblox to scale, simplify, and secure their hybrid networks to meet the modern challenges of a cloud-first world. Learn more on our website.

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Verizon Channel hosts Partner Advisory Council at Boston Innovation Hub

Verizon | December 05, 2022

Today, Verizon hosts its 2022 Partner Advisory Council (PAC) meeting, giving partners a unique opportunity to collaborate and unlock new program opportunities, while continuing to provide best in class service to customers. Verizon is bringing members of its PAC together, including value-added distributors, mobility co-sellers, wireless business agents, and wireline business agents, to set strategic plans for 2023. Partner feedback will be a critical component of the sessions which will focus on discussing program evolution and enhancements. Partners will have the opportunity to tour the Verizon 5G Boston Innovation Center and view tangible examples of 5G-powered technologies. “This is the first time that our channel partners across the entire channel program landscape will be coming together in person to collaborate, set strategic 2023 plans and drive evolution across all our partner programs." “This is the first time that our channel partners across the entire channel program landscape will be coming together in person to collaborate, set strategic 2023 plans and drive evolution across all our partner programs. We are excited to work together to engage in thoughtful and productive conversations that will empower our channel partners to win in 2023,” said Mike Caralis, Verizon Vice President of Business Markets. PAC attendees will also have an opportunity to take part in a group volunteer activity in honor of Giving Tuesday. Each volunteer will build lifesaving paracord bracelets and military care kits for Operation Gratitude, a Verizon non-profit partner, while learning about their impact and mission. Attendees include leadership from Verizon’s top channel partners, sales and operations teams. Verizon’s channel program has received a 5-star rating from CRN in 2022 and continues to be an industry leader in the channel. Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

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Wunderkind Report Reveals CMO Outlook on Omnichannel Marketing Budget, Greater Revenue Potential in Brand-Customer Relationship

Wunderkind | September 19, 2022

With the height of the global pandemic and the initial onset of the supply chain crisis in the rear view mirror, new research from Wunderkind, a leading performance marketing channel that scales one-to-one messages for top brands, publishers, and advertisers, shows nearly all Chief Marketing Officers (94%) look at the last two years as a critical turning point for marketers. As part of its first annual CMO State of the Union report, Wunderkind sought to understand how eCommerce organizations exceeding $3M in annual online revenue are reflecting on the impact and lessons of the post-pandemic era and predicting the road ahead amid today's tumultuous retail market. The Not-So Silver Lining Although the pandemic, supply chain issues and inflation have proven taxing for brands, CMOs are showing they are overwhelmingly resilient. Despite the decline of brick-and-mortar retail in the last two years, CMOs spotted areas of growth and accelerated the development of omnichannel solutions. Research shows 73% of CMOs met or exceeded revenue projections and 55% were able to increase their overall marketing spend in the last two years. However, while 79% have shifted more of their marketing spend online, only one-third feel this shift will last and 71% of CMOs plan to reduce online marketing spend in the future. "CMOs are now at a crossroad. Innovation has to continue in order to communicate the right message, maintain consumer loyalty, boost revenue, and reach digital maturity," said Richard Jones, Chief Revenue Officer at Wunderkind. "CMOs are now at a crossroad. Innovation has to continue in order to communicate the right message, maintain consumer loyalty, boost revenue, and reach digital maturity," said Richard Jones, Chief Revenue Officer at Wunderkind. "While legacy technology has helped brands begin to reshape their marketing strategies, it has also created seas of disparate data and tools that aren't talking to each other – ultimately impeding brands from unlocking additional tangible revenue streams." Marketing Technology: Unlocking Competitive Advantages With the looming deprecation of third-party cookies, it becomes even more imperative that brands leverage first-party data as a cost-effective marketing strategy to keep customers coming back. While many companies have tapped creative solutions to manage customer expectations, the report shows that without understanding how to fully leverage the technologies brands have invested in, CMOs could be leaving money on the table. Most notably, resource allocation, in-house knowledge, measurement, and the use of first-party data are among the greatest areas of opportunity. Wunderkind found that: While 67% of CMOs rely on their own employees to adapt legacy technology to get the value they need, only 9% believe their tech strategy greatly enables their marketing performance 96% of brand marketing leaders believe there is a gap in knowledge of their technology 90% believe there is a gap in resources holding them back from success Nearly three-fourths of CMOs rely on social media and search engine statistics to measure marketing ROI, while less than half depend on customer experience statistics 60% of CMOs feel prepared for cookie deprecation, but 40% feel there is more work to be done The report also points to some brands remaining overly reliant on external channels and third-party data to target, retarget and acquire new customers. In fact, while first-party data was ranked as having the least positive impact on marketing results, the conundrum remains that if marketers can't recognize a customer for who they are and where they are, it becomes incredibly difficult to effectively scale one-to-one messages through owned marketing channels. Diversity & Inclusion Remains A Priority Amid the growing pressure on brands to customize their communication and use the right channels to authentically reach their audiences, they are also experiencing continued demand to reflect wide-reaching external issues such as social justice, diversity, and sustainability. The report finds: Diversity, equity, and inclusion (DE&I) has the most far-reaching impact on consumer marketing (37%) when requiring involvement from the executive team on marketing strategy Other external factors impacting marketing teams are social issues (33%), environmental issues (32%), and governance/compliance (26%) These issues were notably more pronounced for executives, citing DE&I (65%), governance/compliance (64%), environmental Issues (50%), social Issues (49%) as their top pressures. Pointing to a potential disconnect between how brands address macro external issues from a corporate reputation perspective compared to a holistic omnichannel marketing approach, the consistent takeaway is that brands must keep their customers top of mind. "While many retailers are weathering the turbulent landscape, the fact remains that many marketers' dependence on the status quo – from legacy technology and resourcing to third-party data – is holding their organizations back from unlocking new, critically-needed revenue streams," said Michael Osborne, President at Wunderkind. "Wunderkind is a leader in helping top global brands not only unlock first-party data as cookies depreciate, but also seize the ripe opportunity that lies in a powerful performance marketing channel that also adds value for customers in a holistic brand experience." The survey was first revealed at WUNDER, an invite-only conference hosted by Wunderkind featuring high-profile speakers and attendees from such brands as Rag & Bone, JLo Beauty, Casemate, Washington Commanders, and Spartan. The full "CMO State of the Union" report can be downloaded here. Report Methodology Wunderkind's CMO State of the Union was established as an annual survey to gauge the pulse of CMOs at leading B2C brands. Commissioned by Wunderkind, research was conducted online by Savanta Feb-April 2022 among 107 Director+ level professionals in the US and UK working in organizations with online revenue of $3 million+ annually and in the following roles: executive, marketing, finance, information technology, or operations. Qualitative interviews were also conducted among executives VP level and above at companies with $20 million + in online revenue. About Wunderkind Wunderkind is a leading performance marketing channel that scales one-to-one messages for top brands, publishers, and advertisers. Digital businesses use Wunderkind to remember who site visitors are better than ever before, allowing them to deliver high-performing, one-to-one messages on websites, through emails and texts, and in ads at a scale that's not otherwise possible. Wunderkind drives $5 billion dollars annually in directly attributable revenue for top eCommerce brands like Uniqlo, Hugo Boss, HelloFresh, and Conde Nast, often ranking as a top-3 revenue channel in their own analytics. Learn more by visiting the Wunderkind site.

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