How to Benefit Using Channel Partner Marketing?
Posted on Feb 1 2013 at 02:45:05 AM in B2B
If not so long back channel partners would prefer to look right through marketing, today they are pushed to make marketing their priority or else risk failure. The industry has changed and is constantly on the change, and therefore are channel partner marketing practices.
The Market Is Changing
In the the past few years, the business environment has been exposed to remarkable structural as well as functional changes. These changes are forcing channel partners to reassess their marketing perspective and here is the reason why:
- Products are no more searched for or sourced through conventional channels which used to bring in customers with no considerable marketing initiatives. Today, search engines are used to search for, determine, and purchase products in almost 90% of product sales.
- The number of channel partners has raised, that has turned the business atmosphere into a extremely competitive one.
- Non-traditional competition has elevated as well, eating away into the market share of channel partners.
- Well-known brands are already well-established names. They no more invest as much as they used to into marketing campaigns, that channel partners used to take advantage of automatically.
- Channel partners are more likely to devote less resources to marketing
Guidelines Channel Partner Marketing Practices
After the need to reexamine their marketing position gets clear, channel partners will have to follow a set of best practices made to change their marketing endeavours into actual sales and leads.
- Research and analyze. Even though it appears the most obvious step, it is usually overlooked by channel partners. This is actually the stage of channel partner marketing where they have to research and determine competition from each and every perspective including the way they promote their products, the products they provide, and so on.
- Bring In Vendor Support. The fantastic thing about being a channel partner is they already have their advertising sources. Vendors have place all together and channel partners only require to reach out as well as learn from the pamphlets, workshops, demonstrations and what ever other marketing resources the vendor provides.
- Make Use Of The Power Of Social Media. Social media generally specifies marketing these days. If you're not on social networking, you do not exist. This is the way the trend goes these days as well as channel partners should not ignore the amazing power of social networking to get to millions and millions of potential customers.
- Improve Your Presence Online and Offline. Your audience must know what you are as well as what you sell as well as why they should purchase from you to make a purchasing decision. However how they might do this if they have no idea you exist? Get online, enhance your site, promote in local or even local newspapers, get on the radio, or sponsor events! You need to be visible!
- Learn The Value of Referral Plans. In present day age of "sharing", referral programs make more sales than ever before. They bring in more than half of the revenue. People choose to purchase from a place they know or even from a place that a friend has suggested.
- Do not ever Overlook the Power of Direct Marketing. Direct marketing continues to be best friend of any kind of sales business. Channel partner marketing should include all the methods that modern direct marketing involves including e-mail campaigns, client data base as well as prospect databases.
In this circumstance, channel partner marketing is not a superficial endeavor however mandatory that can make sure the success of channel partners in this extremely competitive as well as completely changing business environment.