5 mistakes every channel marketer should avoid
TRANSCRIPT
5 Mistakes Every Channel Marketer Should Avoid
Changing Trends in Channel Marketing
• Companies have begun to use big data to monitor, analyse and respond with various intervention techniques based on both empirical and historical data points.
• Use of an integrated approach with digital tools such as automated channel marketing, email marketing coupled with traditional tele-sales to move larger number of products down the channel.
• Driving this trend is the increased competitive nature of business, multiple channel points and an ever increasing choice availability to consumers.
Mistakes a channel marketer should avoid
1. Assuming Data Exists
Data will exist is disparate groups in multiple storage
points.
Business name and a business email id in the
billing system may not be what the channel partner is
actually using.
Duplicity of data points largely caused by the
legacy system of entering names in short.
Apart from the naming issue, there would exist the problem of lack of email id and phone number. Mostly
data is unverified.
Solution:As a Channel marketer assume that good
quality database simply does not exist and factor the necessity of creating a
comprehensive high quality database into your trade marketing program. Using a channel marketing automation tool will
help.
2. Letting your channel partners become your Marketers.
Channel partner view trade programs as
another backend support mechanism within their
right to utilize. This often results in channel
pilferage.
Worse still is the fact that you are then dependent on the channel partner as your
marketing partner to provide you with results of
your trade program effectiveness.
Channel partners are more in touch with the down tier and therefore it is easier to administer
the program through them.
It saves cost but channel marketers do not take into
account the work of compile reports from non-compliant partners or the opportunity cost loss t due
to pilferage.
3. Letting your sales team become your messenger
Keep in mind that the sales team does not report functionally to
marketing.
With multiple brands running multiple channel programs at the same time, the sales team
will often end up doing both his roles badly .
Trying to leverage the sales team to administer and communicate your trade scheme will result in
delayed scheme launches, miscommunication to some
sections of your trade channel.
4. Delaying Trade Rewards
Because of the way channel programs are usually executed-
via the up-tier, through the sales team, marketers often
find it difficult to release channel rewards for lack of
adequate information.
Channel loyalty program is to build trust so that future programs benefit from it.
dealer meets and non-receipt of trade scheme rewards is
likely to be a hot social topic among channel partners. An irate channel partner is more likely to shift his focus to the
brand that promises and delivers.
5. Not building a database build up loop
The more data points that you collect during and after your program and loop back into your system, the sharper and more effective will be your next marketing initiative.
Understanding trends, buying patterns, regional patterns, and channel patterns will allow you to create sharper, more precise trade programs for different constituents.
Most channel marketers make the fundamental mistake of treating each trade program as individual silo’s resulting in no future insights.
Conclusion
Trade Marketing can be one of the most challenging marketing
assignments a marketer can take up
given the dynamics of the industry. Making the mistakes shown, can lead
to frustration while implementing the solutions can give the channel marketer enough time to broaden
his responsibility by taking on other assignments.
For further information, check out our blog : http://triadmarketingservices.com/blogs/5-mistakes-every-channel-marketer-should-avoid/