Now, more than ever, it is crucial to understand in which markets and channels to play, how to prioritize investments and resources to maximize your revenue opportunity and grow your sales organization and revenue effectively.
Successful companies develop channel strategies that provide clear direction on which channels to engage for targeting specific segments in specific markets, how to win in new and existing markets, and how to be competitive at a local level.
Simply duplicating channel strategies from core markets can lead to disappointing results. A well developed and executed channel strategy focuses on understanding the opportunities, business drivers, and structures of different markets, to ensure local resources are focused on delivering products to the right place, at the right price, when customers are making the decision to buy.
The right plan also ensures that profitability is offered throughout the partner ecosystem. A strong channel strategy reflects the key characteristics of complex and varied market environments, whether mature or emerging. It also aligns the significant resources required for supporting channel activities, such as key partner relationships and alliances, account management structures and personnel, demand generation, and field support.
Understanding the financial implications of each channel is fundamental to developing a sustainable channel strategy. Managing through this complexity and developing a channel strategy that maximizes effectiveness and efficiency is critical.
During your channel strategy and planning sessions, you should be answering the following questions:
The ability to identify, execute, manage, and support national and international resources with quality channel strategies and execution can mean the difference between dominant market share and floundering business performance.