The two strategies are: Direct sales strategy-the sales people talk about each feature of the competitor’s product and compare it to theirs. Be sure to implement a series of rules and best practices to maintain your quality standards. And Coca-Cola doesn’t have stores at all! 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. 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. This model has its ups and downs, mainly, that you don’t have complete control over distribution. 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. Indirect Sales Partner Model Example 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. Collaboration Tools – tools that allow the people on the front lines (channel partners’ sales teams) to have real time access to your product managers, fellow sales people and other channel partners. As a business owner or marketing manager, you constantly face the same predicament. The fastest and easiest way to achieve great training results for channel marketing is without doubt through elearning. The sample consisted of 155 companies that had indirect sales strategies. Direct sales approach or an indirect sales strategy? Some sales strategies come and go with the bestselling book of the week, or the advent of new tools & technologies. You should carefully consider both what the partner can reasonably be expected to provide for you and what you, in turn, need to … Customers want to know everything about a product before making a purchase. 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? Ease of updates – when your training needs to be updated due to new legislation, best practice or inventory. The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations … 4. 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. And, Performance Improvement for the Entire Sales Enterprise. It’s a cost-effective solution to increase sales, without sacrificing quality. When you work with resellers, distributors, affiliate partners, or independent retailers, you build a channel sales system. Better yet, 57 percent of them have provided an enhanced customer experience. 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 … The result: More engagement and Mindshare. 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. These tips will help business owners or marketing managers reach new audiences to increase revenue and growth. 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 uses people and companies outside your organisation to sell and distribute your products. Microsoft uses channel sales to sell its software around the world. Invest in educating your resellers to ensure that your customers have positive interactions with your brand outside your organisation. Your marketing message must underline the benefits of working with you and what’s in it for them! You need to reach … By associating your image with a reputable brand that people trust, you can increase your popularity among consumers. ... BCG was the pioneer in business strategy when it was founded in 1963. Beyond product descriptions, customers often read online reviews and technical details first. Such a platform is not only useful for 24/7 access to the elearning, but can often be branded with your own logo, colour scheme etc to help the learner feel part of your team, helping to increase engagement and a sense of partnership. So it’s in your interest to provide your partners with documentation, marketing content, and ongoing training. 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. Direct sales approach or an indirect sales strategy? 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. To start with, you’ll need to pay close attention to detail when choosing your channel partners. Our comments are moderated. Distant sites in geographical areas where building a local presence could take months or even years, are instantly within reach. Sales success today requires a new way of thinking about sales strategy. So team up with your channel partners and set common objectives to grow both your businesses. While this model is fast and convenient, it also has its challenges. Slippers On Fire is the research and data-driven advice website for business owners and managers who want to take their companies to the next level. All Rights Reserved. Here we look at channel marketing strategy and management advice, which we have gleaned from experts in generating and increasing indirect sales revenue. Working with reliable channel partners can help you build brand awareness. Utilizing this methodology he will consult with LogicBay Enterprise prospects collaborating with… View full profile ›. In this case, you’re no longer focusing your message on how your product can help people. Clarity on Direct Versus Indirect Sales. A portal to make the training materials for channel marketing available online is known as a learning management system or LMS. There are some best practices that should be followed when implementing or optimizing a channel partner strategy. Lead … 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. 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. Indirect sales strategies do have a few downsides, however. Unfortunately, relevance is also a necessity for any business. For example, let’s briefly consider automobile manufacturers and their independent dealers. And in some cases, the use of affiliates or … This way, they’ll know your product well enough to sell it. The channel marketing and indirect sales model can help you reach large audiences over different geographical areas. They also capitalize on the effort and cost a partner has put into building the business and its client base. Either way, you’ll need a channel marketing manager to build a stable relationship with each one of your resellers and distributors. Communicate constantly with your channel partners to come up with new ways of improving the customer experience. Even with the colossal budgets these brands have, it would be impossible to be everywhere without a reliable network of partners and distributors. You’ll need to speak their language and adapt the tone of your marketing materials and campaigns. Collaborate with trustworthy resellers and retailers only – companies that are equally interested in maintaining a good reputation among their customers. Co-branded marketing can show your channel partners that you appreciate their help and respect their contribution to your success. But if you want to reach more customers faster, channel sales can have some serious benefits for your business. According to a SAP Survey, 74 percent of companies using a multi-channel strategy for sales have registered increased profits. Just as you can benefit from their good name, you can lose market share if potential clients associate your brand with a lousy retailer. Reaching channel partners who might be geographically disparate – perhaps even based in multiple countries. When you work with distributors and affiliates partners, your product reaches new audiences in different places. The question is, what is the right strategy? Need need to wait until the next available training dates. When you’re carrying out channel sales, you’ll need to focus your efforts on growing your partners as part of your strategy. 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.

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