You’ll need to convince retailers, affiliate partners, and distributors that your product is worth selling through their channels. You should carefully consider both what the partner can reasonably be expected to provide for you and what you, in turn, need to … Reaching channel partners who might be geographically disparate – perhaps even based in multiple countries. This makes for increased productivity all round and way faster time to market. Lead … The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations … Furthermore, you have done your homework and have developed an extensive list of potential channel partners that you believe are well positioned in your targeted market areas and appear to have a proven track record of strong sales results. Apple is an excellent example of channel sales best practices. They also capitalize on the effort and cost a partner has put into building the business and its client base. In order to be successful in capturing a disproportionate amount of channel partners’ selling efforts, you must find ways to engage them frequently and effectively (this is referred to as capturing their “mindshare’). This model has its ups and downs, mainly, that you don’t have complete control over distribution. Investing in e-learning and training for your growing network of channel partners is essential, and an extended enterprise LMS can help you achieve results faster. All successful channel partner relationships have two things in common: there is a high level of engagement between the parties and the relationship is very collaborative. – this is a question that your emerging growth company has grappled with and you have decided to use the indirect sales … All Rights Reserved. You’ll need to speak their language and adapt the tone of your marketing materials and campaigns. Unfortunately, relevance is also a necessity for any business. There’s no difference between buying directly from Apple or through third-party companies, as they uphold the same high standards when it comes to quality and customer experience. A portal to make the training materials for channel marketing available online is known as a learning management system or LMS. This takes your brand to places that would otherwise be off the grid. When you’re carrying out channel sales, you’ll need to focus your efforts on growing your partners as part of your strategy. Sales success today requires a new way of thinking about sales strategy. Partner Relationship Management (PRM) Technology, Effectively launching a LMS for the Channel, Applying Lean Principles to Channel Management, The PRM/CRM Balance – How to Handle Lead Management, The Evolution of Partner Programs: 21st Century Channel Sales [Video], Conditioning Your Channel Partners to Sell Productively, Image: 100 Powerful Marketing Words to Boost Your Brand (and 75 More to Avoid Like the Plague), Image: 4 Types of Customer Segmentation All Marketers Should Know. ... BCG was the pioneer in business strategy when it was founded in 1963. Established Trust - Many salespeople … Greater Efficiency and Cost Savings. The channel marketing and indirect sales model can help you reach large audiences over different geographical areas. Direct & Indirect Sales Strategy. While this model is fast and convenient, it also has its challenges. By making channel sales and marketing training materials available online through elearning, your partners have access to your product and service information and documentation any time and anywhere. This means that you are using, or will be shortly, channel partners to sell your products and services out in the market. As the person responsible for your company’s channel partner strategy, you have spent a great deal of time researching and targeting the various market segments that you want to sell into. Microsoft uses channel sales to sell its software around the world. In this case, you’re no longer focusing your message on how your product can help people. Your comment may not appear immediately. Even with the colossal budgets these brands have, it would be impossible to be everywhere without a reliable network of partners and distributors. In fact, according to HubSpot, one channel manager guiding several channel partners can yield revenues the equivalent of five or six salespeople, at a fraction of the cost! Here we look at channel marketing strategy and management advice, which we have gleaned from experts in generating and increasing indirect sales revenue. So it’s in your interest to provide your partners with documentation, marketing content, and ongoing training. Here we look at channel marketing strategy and management advice, which we have gleaned from experts in generating and increasing indirect sales revenue. The process of disseminating product and service knowledge to your partners, affiliates and resellers is sometimes known as ‘Extended Enterprise Training‘. If you follow best practices and implement a robust PRM solution, you will maintain high levels of engagement and collaboration with your channel partners resulting in mutually beneficial relationships. Numerous phone calls and emails are not an effective strategy. The two strategies are: Direct sales strategy-the sales people talk about each feature of the competitor’s product and compare it to theirs. This article was written for Business 2 Community by Todd Grant.Learn more about writing for B2C, LogicBay Vice President of Marketing Todd Grant leverages a successful track record of launching numerous business development initiatives for technology-enabled business service companies and brings a proprietary business acquisition process to LogicBay often referred to as Diagnosis Selling. For example, let’s briefly consider automobile manufacturers and their independent dealers. Below are some of the key reasons companies choose to implement an indirect sales channel strategy: Lower Sales and Marketing Cost - As opposed to using an in-house direct sales team, indirect sales channels are much lower in overhead costs. As a business owner or marketing manager, you constantly face the same predicament. Slippers On Fire Ltd14 Beech HillOtleyLeedsWest YorkshireLS21 3AXUK, https://i2.wp.com/www.slippersonfire.com/wp-content/uploads/2018/06/channel-marketing-strategy-sales.jpg?fit=800%2C533&ssl=1, https://www.slippersonfire.com/wp-content/uploads/2016/06/slippers-on-fire-logo.png, Channel Marketing Strategy & Management for Indirect Sales, Spam Email – Definition & Explaining the Business Risks, Best SEO Tools – Software for Website Analysis, Ranking Checks, Research & more, Remote Work Tools for Productivity, Collaboration & Communication – the 22 Most Recommended, Corporate Social Responsibility & the Business Benefits. A PRM system is a partner portal through which your channel partners are able to access all of the resources they need to sell and service your products. As a business owner or marketing manager, you constantly face the same predicament. Our comments are moderated. The company has brand stores in many locations, but they still collaborate with resellers, for selling to companies and end-user customers.