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Propeller Insights Survey: Just 11% of Marketers Spend Their Budget Effectively

99 out of 100 marketing executives say it would be valuable to have a better handle on joint budgets when marketing with partners—46 percent say it would be “extremely valuable”

REDWOOD CITY, Calif.–(BUSINESS WIRE)–WorkSpan, The Go-To-Market Network for Alliances, today announced the results of a new survey that looked at the tools marketing executives use to track campaigns, how effectively their marketing budgets are being used and how they measure the success of campaigns.

The survey was conducted online within the United States by Propeller Insights on behalf of WorkSpan November 7-13, 2017, among 100 marketing executives—44 percent VPs of marketing, 32 percent CMOs and 24 percent SVPs of marketing. The results were weighted to the U.S. census for age, gender, region and income.

The trials and tribulations of marketing with partners

The top three concerns of American marketing executives are digital marketing (87 percent), product marketing (80 percent) and partner marketing (67 percent)—although 83 percent of senior level marketers aren’t using a partner management tool.

VPs, SVPs and CMOs unanimously agree that marketing with partners has benefits, prime among them:

  • Increased lead generation — 58 percent
  • Access to new potential customers — 50 percent
  • New market segments — 50 percent
  • Access to partner audiences and brand power — 48 percent
  • Stronger media outreach & better social media content — 47 percent each

In terms of the pitfalls, marketing executives agree that the greatest challenges of marketing with partners are difficulty changing direction quickly to address market needs (35 percent), difficulty finding available partner marketing budgets (29 percent) and disagreement of focus (26 percent). Almost all—99 percent—of marketing executives think it would be valuable to have a better handle on joint budgets when marketing with partners—nearly half (46 percent) say it would be “extremely valuable.”

“Companies need to engage with thriving ecosystems of partners to make themselves strategic and valuable for their ecosystem, but this creates many potential complications and inefficiencies,” said Mayank Bawa, CEO and founder of WorkSpan. “We created WorkSpan to make joint marketing with partners accountable, innovative and impactful at scale—and to create unparalleled visibility throughout the process, making their campaigns more effective and helping them to put every cent of their marketing budgets to good use.”

Marketing processes rife with inefficiencies

Fewer than half of marketing executives (46 percent) work with teams in the same office; the majority work with teams that are regional (31 percent), cross-country (12 percent) or international (11 percent). Ninety-three percent of marketing executives find it difficult to collaborate internationally. Scheduling calls across timezones was identified as a top difficulty (41 percent), but pushing centralized plans to regional teams (43 percent) was ranked the number one challenge.

Only 11 percent of marketing executives say their yearly marketing budget is spent effectively, while more than 1 in 10 (13 percent) say only 0-25 percent is, and 15 percent say more than half of their annual partner co-marketing funds go unspent.

More than a quarter of marketing executives (27 percent) use at least 10 different pieces of software to collaborate with marketing partners and colleagues, including tools for:

  • Content sharing – 55 percent
  • CRM – 40 percent
  • Marketing automation – 39 percent
  • AdTech – 36 percent
  • Content marketing – 27 percent

Nearly half (47 percent) spend more than four hours each week in meetings to review the progress of marketing projects, and more than three quarters (78 percent) say they employ a person whose sole job is to track campaign progress.

Added Bawa: “Marketing teams choose WorkSpan to share marketing campaigns with partners, manage joint programs and solutions, track demand-gen performance, access marketing funds and much more.”

When it comes to measuring the success of a given marketing campaign, top considerations for marketing executives include:

  • Increased brand value – 59 percent
  • Marketing qualified leads – 56 percent
  • Revenue – 49 percent
  • Opportunities created – 34 percent
  • Increased net promoter score – 29 percent

Marketing executives think the Technology (44 percent), Banking/Finance (37 percent) and Telecommunications (36 percent) industries stand to benefit most from better coordinating their marketing efforts.

About WorkSpan

WorkSpan is a Marketing Network for ecosystems. We empower customers to discover, plan, fund, and measure joint marketing campaigns across their ecosystem and their partner’s ecosystems on a shared platform to grow their business exponentially. We deliver secure transparency and mutual accountability across company boundaries with velocity, scalability, and trust. WorkSpan is a privately held company backed by Mayfield and is currently in use by global enterprises including Intel, SAP, CenturyLink, Infosys, and Lenovo. For more information, visit WorkSpan.com and follow @WorkSpan on Twitter and LinkedIn.

Contacts

for WorkSpan
Laura Ruark, 540-599-7886
Laura@bospar.com

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Go-To-Market Network for Alliances Company WorkSpan Brings on Two New Executives to Expand Market Presence and Lay Foundation for Post-Sales Success

Vice President of Marketing Chip Rodgers and Vice President of Customer Success and Service Delivery Julian Peebles Join WorkSpan as Company Continues Rapid Growth

REDWOOD CITY, Calif.–(BUSINESS WIRE)–WorkSpan, a Go-To-Market Network for Alliances, today announced the addition of Chip Rodgers as Vice President of Marketing and Julian Peebles as Vice President of Customer Success and Service Delivery. These new hires will allow WorkSpan to continue leading the way in the creation of a trusted network where companies can coordinate marketing programs, campaigns, and activities with their go-to-market partners, internal partners and marketing agencies expanding their reach and growing revenue.

“After our experiences together at SAP, I am thrilled to be working with Chip again, and Julian’s tenacity in solving complex business problems will be an asset to WorkSpan as we continue to lead the marketing network space,” said Amit Sinha, WorkSpan co-founder and Chief Customer Officer. “Both of these men bring years of experience and a wealth of enthusiasm with them, and we couldn’t be more thrilled to welcome them to our team.”

Chip Rodgers: Building a Market Presence for a New Category of Technology

In his new role as Vice President of Marketing at WorkSpan, Rodgers will lead all marketing functions—from brand and messaging to demand generation. This includes communications, digital marketing, product marketing, events, social media and community marketing. Rodgers comes to WorkSpan from SAP, where he was the Vice President of Integrated Digital Marketing and the COO of the SAP Community Network, which he grew to over 2.5 million customers, partners and developers.

“When I first saw the WorkSpan solution, I knew they were onto something,” said Rodgers. “WorkSpan is at a key inflection point where it’s growing quickly and looking to expand further. It’s critical to have strong leadership to build market presence for this new technology category, and I’m excited to be a part of that. My background has prepared me well for this position: having led partner marketing for the U.S. business of SAP, I am familiar with—and excited to take on—the challenges ahead.”

Julian Peebles: Laying the Foundation for Post-Sales Success

As Vice President of Customer Success and Service Delivery, Peebles will be responsible for pre-sales engagement and driving post-sales success through professional services, technical support and customer success teams. He previously worked for Coupa Software, where he led a team of global customer success managers responsible for driving customer adoption initiatives that expanded the company footprint within the established customer base.

“Because we are growing our customer base so quickly, it’s critical that new customers are able to hit the ground running and take advantage of all of the amazing value WorkSpan has to offer,” said Peebles. “My task is to put a solid foundation in place in terms of people, process and technology to allow our new customer success teams to be as productive and scalable as possible.”

About WorkSpan

WorkSpan is a Business Network for marketing with partners. We empower customers to discover, plan, fund, and measure joint marketing campaigns across their ecosystem and their partners’ ecosystems on a shared platform to grow their business exponentially. We deliver secure transparency and mutual accountability across company boundaries with velocity, scalability and trust. WorkSpan is a privately held company backed by Mayfield and is currently in use by global enterprises including Intel, SAP, CenturyLink, Infosys and Lenovo. For more information, visit WorkSpan.com and follow @WorkSpan on Twitter and LinkedIn.

Contacts

for WorkSpan
Laura Ruark, 540-599-7886
Laura@bospar.com

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In The News

The Global Economy is Changing the Way We Collaborate

As we become a more global business society, we’re seeing a lot more companies collaborating with other companies – which can present the challenge of keeping confidential information secret, while still effectively working with outsiders. Provided they can get past these barriers, businesses can gain a competitive edge by leveraging the resources of a partner.

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IBRS Technology Industry Analyst Dr. Joe Sweeney Reviews WorkSpan

Former VP of Research at Gartner, and current technology industry analyst for IBRS, Dr. Joe Sweeney shares his impressions of WorkSpan after a recent briefing and demonstration. Read his thoughts on why WorkSpan isn’t simply another vendor in the already-crowded “collaboration” category, but instead provides a purpose-driven solution helping alliances jointly plan, fund, and measure program performance across companies to more effectively execute joint go-to-market initiatives.

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WorkSpan’s CEO & Founder Mayank Bawa on Joint Go-To-Market Alliances

Digital innovation is driving the move to bring together the organization’s own systems and contributions from outsourcers and “as a service” providers. As many recent studies back it up, more and more marketers remain committed to a best-of-breed approach to vendor selection rather than seeking the advantages of single-source solutions.

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Goodbye Spreadsheets, Hello Go-To-Market Network for Alliances

If your go-to-market plans involve working with partners, whether it’s one or one hundred, you know how complicated it can get managing the relationship and shared programs.

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WorkSpan Launches Go-To-Market Network for Alliances

The company says this is the first to allow management of multiple initiatives between an unlimited number of businesses.

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WorkSpan Raises $9 Million for Go-To-Market Network for Alliances

Redwood City-based WorkSpan has raised a $9 million Series A led by Mayfield Fund for its alliance go-to-market networking platform.

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WorkSpan Marks Global Debut With $9 Million Series A Funding

A new Silicon Valley startup is aiming to make it easier for alliances to go-to-market across channels, teams, and regions.

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WorkSpan Secures $9M In Funding, Announces General Availability

Using WorkSpan, alliances can establish a shared system of record; align, create and share programs; and propagate them to internal and external partners, according to the company.

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WorkSpan Allows Companies to Redefine How They Engage with Strategic Partners

Companies need to engage with thriving ecosystems of partners to make themselves strategic and valuable for their ecosystem.

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WorkSpan Makes Joint Work with Partners Visible, Accountable, Innovative, and Impactful at Scale

WorkSpan, the Go-To-Market Network for Alliances, where teams span boundaries to work across internal teams, external go-to-market partners, and agencies to orchestrate joint initiatives, has announced a $9 million series A funding round led by Mayfield.

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WorkSpan Announces General Availability to Unleash the Exponential Potential of Go-To-Market Networks

Companies need to engage with thriving ecosystems of partners to make themselves strategic and valuable for their ecosystem. This is a need that is being felt across industries – whether it be cloud providers and enterprise vendors in High Tech, or fast moving consumer goods in CPG, or multi-channel Retailers, or service providers in Financial Services

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WorkSpan Snaps Up $9 Million to Facilitate Go-To-Market Network for Alliances

WorkSpan, which is launching globally alongside the funding announcement, is a go-to-market network for alliances through which partners can collaborate to compose successful initiatives.

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Venture Deals

WorkSpan, a Silicon Valley go-to-market network for alliances, raised $9 million in Series A funding.

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WorkSpan Announces General Availability of Its Go-To-Market Network for Alliances

WorkSpan has announced that its new go-to-market network for alliances—which enables vendors and their partners to rapidly execute joint initiatives—is now generally available.

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WorkSpan Pulls in $9M Series A

Redwood City, California-based WorkSpan, a go-to-market network for alliances, has raised $9 million in Series A funding. Mayfield led the round.

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WorkSpan Raises $9M in Series A Funding

WorkSpan, a Redwood City, CA-based go-to-market network for alliances, raised $9m in series A funding.The round was led by Mayfield.The company is using the funds to launch globally following an early availability program that included SAP, Intel, CenturyLink, and Infosys.

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WorkSpan Announces $9M Series A

Companies need to engage with thriving ecosystems of partners to make themselves strategic and valuable for their ecosystem.

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Why Reseller Channel MDF Tools Don’t Work for Strategic Alliances MDF Programs

One needs deep coordination to succeed; the other uses set rules and automation to scale.

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Unlocking the Exponential Value of Your Strategic Alliances

Your strategic alliances were only set up to be adequate at best and are at risk of failing. In fact, most will fail this year in delivering the joint business plan that you painstakingly put together.

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WorkSpan is Available on Marketo Launchpoint

Working with partners just got a whole lot easier.

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The WorkSpan Story

We built WorkSpan to bring trust back into your go-to-market alliances. We built it as a network; a consolidated solution to activate the full potential of your business connections.

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