Channel analytics, the often neglected sibling of customer analytics, presents significant opportunities for companies seeking to better their channel-related performance, especially those in industries with large distribution networks such as exchange houses, retail distribution, hotel chains, and automotive distributors.
In today’s marketplace, where the number of channels being utilized for providing service or conducting sales through has proliferated, companies are still managing them broadly – generally, we observe retail management (i.e. “own stores”, “partner stores”, “franchises”, etc.) and alternative channels management (i.e. web, app, etc.) concepts in use. This, however, is not enough, barely scratching the surface in regards to truly identifying the differences between and within channels, allowing for dynamic and unique management methods to be utilized. With ever-increasing pressures around managing the cost of sales, around increasing the level of service provided to customers as well as around competing fiercely with rivals for a dwindling number of potential clients, companies need to dive head-first into channel segmentation.
Channel segmentation can do wonders on the bottom line of companies. WE help you set-up channel partner program offering assured returns on marketing investment.
More recently, even brands known for more standard format stores have started using segmentation to customize their channels to match local needs better
The approach is not limited to retailers, with companies that have a reliance on brick and mortar investing in channel segmentation
Channel segmentation relies on the same principles as customer segmentation – just as with customers, all your channel partners / branches are not the same, so why treat them the same
Channel segmentation can allow for improvement to be made in and around:
- Lead Management
- Product Management
- Price Management
- Promotion Management
- Operational Efficiency
- Performance Management
In order to get the most out of the channel segmentation effort, we can analyse and recommend actionable segmentation approach, analyzing channel partners across various dimensions.
Managing an efficient channel is vital for the survival and success of any business, more so in the case of product / equipment manufacturers. It is an indirect way of servicing your customers. As channel partners are the ones who meet the end customers first, they need to carry the values that you have imbibed in your business clearly and consistently.