How Do I Create a Successful Channel Marketing Strategy Plan?
A successful channel marketing strategy plan will allow you to expand your marketing efforts and accelerate the growth of your sales. Moreover, a good strategy should provide you with the flexibility to adjust as needed moving forward. It is essential you’re able to identify and utilize your channel’s strengths while improving the weaknesses. An effective strategy will give you the means for achieving this. Additionally, incentives should be integral to any well-designed marketing plan. They can maximize results and create targeted motivation that fuels improvement moving forward.
Using a channel is advantageous in that it makes it easier for your customers to find you and make purchases. It can also be a cost-effective way to hire or expand a sales force. However, you can only enjoy these benefits if channel partners are proactive and add value as resellers. It needs to be profitable for partners to sell your products. The best way to accomplish this is with incentives that reward proactive behavior.
A Successful Channel Marketing Strategy Plan Utilizes Every Employee
You might have hired a team of experts for the sole purpose of marketing, but that doesn’t mean they’re the only people who do it. Through customer interactions, every employee is responsible for marketing your brand in one way or another. The people working in stores, who help customers with their purchases, are the mouth-pieces of your channel. The face-to-face interactions that take place at retail locations are, in many ways, more significant than the other forms of customer outreach you might be adopting. Your internet presence and email campaigns can only do so much, after all. If the employees who interact with the customers don’t understand what they’re selling, all your efforts go to waste.
As such, it is vital that employees are capable of filling the role of brand ambassadors. This means they must be knowledgeable about everything a customer might ask them. Incentives can provide a way for not only encouraging and motivating employees to learn your brand, but also getting them excited about it. Rewards for ongoing training exercises, such as quizzes, trivia and tutorials, can motivate sellers to keep up with new developments.
Set Up Your Channel Marketing Strategy Plan to Provide Feedback So You Can Adjust
You expect a channel marketing strategy plan to yield good results, but sometimes additional services will be necessary to achieve the results you desire. Every extra expense that goes into your marketing approach is an investment, so you must monitor it. It’s crucial that you measure the impact of what you spend, so you can avoid fruitless costs and focus on what works for you.
Your strategy should provide insight on the effectiveness of your funding, but that is only one aspect. Beyond that, you should be building more accurate profiles of your existing and target customers. Additionally, you should have a fundamental understanding of your brand and the way your consumer base views it.
Seeking better visibility should be a common goal for your channel. However, if your channel brings in the right feedback, you can better understand the kind of visibility you already have. You can also get an idea of how to improve it, which enables a more targeted approach.
Valuable as feedback can be, you might still be unclear on how you’re supposed to get it. The answer is simple: incentives! You can use rewards geared towards motivating the exchange of important information. In this way, you can get all the data you need with very little micro-management after the onset. Some of these applications include:
● Incorporating incentives to encourage channel partners to report on what worked and what didn’t over a certain period
● Implementing different promotions that target different types of participants
● Offering partners rewards for completing surveys regarding what they value in a brand
● Using incentivized questionnaires and surveys to gain insight into the needs and values of your target consumer base
Make Sure Your Channel Marketing Strategy Plan Puts the Customers First
Although your channel should focus on sharing your message with the consumers, it’s really a two-way street. The feedback you obtain from your channel will help you better understand what your customers want. Your message will be more impactful if you know where you should be placing your focus. In this regard, like many others, the customer is always right. By getting familiar with the interests and desires of your customers, you can better understand where your brand fits into that picture.
Creating an effective channel marketing strategy plan requires insight, flexibility and the right resources. With incentives, you can encourage the kind of behavior that pushes your channel toward success. You can achieve your vision and maximize the impact of your channel; however, this can take a lot of work. Having the right technology and expertise in your corner can make all the difference in the world, so don’t hesitate to get the help you need. To learn more about how you can create a successful channel marketing strategy plan, visit Loyaltyworks online or call us today at (800) 844-5000.