The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations … Invest in educating your resellers to ensure that your customers have positive interactions with your brand outside your organisation. Some sales strategies come and go with the bestselling book of the week, or the advent of new tools & technologies. This makes for increased productivity all round and way faster time to market. 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. With a small sales team and a handful of channel partners, you can get your products in more markets without having to increase your costs. You’ll need to speak their language and adapt the tone of your marketing materials and campaigns. No company can succeed, much less survive, without effective sales strategies. – this is a question that your emerging growth company has grappled with and you have decided to use the indirect sales approach. In most cases, you may also benefit from international expansion and entry into new markets without the need for extensive market research costs by going through local distributors. 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. So team up with your channel partners and set common objectives to grow both your businesses. You need to reach … 4. Working with reliable channel partners can help you build brand awareness. And Coca-Cola doesn’t have stores at all! Co-branded marketing can show your channel partners that you appreciate their help and respect their contribution to your success. You can quickly understand that if you have a relationship with channel partners where goals and objectives are misaligned, you channel sales strategy will not be successful. You need a marketing message to help you hook new customers from your partner’s audience. By associating your image with a reputable brand that people trust, you can increase your popularity among consumers. You should carefully consider both what the partner can reasonably be expected to provide for you and what you, in turn, need to provide to your partner to ensure success. Apple is an excellent example of channel sales best practices. Engagement equates to attachment and business alignment, which equates to more sales. Your channel partners, due to their independent nature, are free to sell products and services from many companies, some of which may even be direct competitors. Channel marketing goes beyond crafting messages for your target public, and your marketing strategy will need to be two-fold. Especially in foreign markets that may not be familiar with your brand. LogicBay’s Partner Relationship Management (PRM) Technology is rich with best practice workflows making it easier for organizations to do business with channel partner re-sellers. When building a channel sales model, you also need to create and maintain efficient workflows. The question is, what is the right strategy? Indirect sales strategy- in this the approach is by demonstrating features and benefits not available with the competition’s products or services without ever mentioning them by name. A framework for successful engagement is based on the following core elements: You need a robust solution that will help manage all these critical elements. Two basic strategies are the direct sales strategy and the indirect sales strategy. To successfully master the art of indirect selling you will need to consider implementing a partner relationship management (PRM) solution. 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. But what can you do to ensure that once you “sign up” a channel partner, you are doing everything you can to drive high levels of engagement and collaboration? When you work with distributors and affiliates partners, your product reaches new audiences in different places. Considered to be the next step for brand recognition and awareness, the indirect marketing strategy is used in the point when customers are already aware and familiar with the product, possibly by previously employing the direct marketing tactic, or because customers have purchased / heard about the product.Thus indirect marketing is used when customers need to be reminded about the product or … For one, added fees can cut into margins. Apple relies on both brand stores and independent partners to ensure its products reach a global market. To get the most of this system, though, you’ll need to build an efficient network of sellers, affiliates, and distributors that understand your products – and know how to promote them among their customers. Here we look at channel marketing strategy and management advice, which we have gleaned from experts in generating and increasing indirect sales revenue. When you work with resellers, distributors, affiliate partners, or independent retailers, you build a channel sales system. Your comment may not appear immediately. The channel sales model (also called indirect sales) can help you sell globally without the hassle and expense of managing hundreds of stores around the world. All Rights Reserved. Better yet, 57 percent of them have provided an enhanced customer experience. The channel marketing and indirect sales model can help you reach large audiences over different geographical areas. Just as you can benefit from their good name, you can lose market share if potential clients associate your brand with a lousy retailer. Our comments are moderated. Even with the colossal budgets these brands have, it would be impossible to be everywhere without a reliable network of partners and distributors. Clarity on Direct Versus Indirect Sales. Speed of delivery – reach partners with details of new product and service details as quickly as soon as your training materials are ready – in as long as it takes to send an email. Numerous phone calls and emails are not an effective strategy. Your channel partners travel to or have physical stores outside your national borders. While this model is fast and convenient, it also has its challenges. If you do decide that an indirect sales strategy is for you, it will allow you to greatly expand your reach geographically without the need to hire more sales reps to cover the new territory. Either way, you’ll need a channel marketing manager to build a stable relationship with each one of your resellers and distributors. 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’). In today’s competitive environment, dealers do not generate much of their revenue from new car sales, rather it is the service end of their business that is the big profit center.


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