Skip to main content

What is Channel Management? 5 Major Benefits of using Channel Management Software

importance-of-channel-management-software
The companies with complex distribution channel models take advantage of channel management software's to help them optimize and organize the operation.

What is Channel Management?
According to Economic Times, "It is defined as a process where the company develops various marketing techniques as well as sales strategies to reach the widest possible customer base. The channels are nothing but ways or outlets to market and sell products. The ultimate aim of any organization is to develop a better relationship between the customer and the product."

How can a Channel Management Software help organize your day to day channel operations?

The 5 major benefits of opting for a channel management software are:

  • Increased Channel Revenue
    • Brands gain maximum value from their incentive programs investment by driving increased revenue through the channel.
    • Deliver targeted, high-impact programs that promote effective selling behaviors. 
    • Improve business agility by tailoring channel management to suit business needs.
  • Gain Actionable Intelligence
    With deeper insight into channel utilization, companies can more easily replicate what works well and change or eliminate what does not
    • Identify Top Performing Programs and Partners.
    • Allocate Resources Appropriately, based on performance.
    • Measure Product Profitability accurately and determine strategies for improvement.
  • Improve Stock Visibility Across Channels
    • Channel Partners update stock movement of the brand - encompassing Primary, Secondary and Tertiary sales. Relevant functionalities are provided for the sales management resources like
    • Third party in store demonstration and their managers 
    • On ground sales teams
  • Reduce Cost of Channel Sales
    • Channel sales in competitive markets need marketing support that comes in ways like branding (GSB, Demo units etc.) and In-store Demonstrations (ISD's). Channel Software enables expense tagging at each level. Also, deliver store level granularity for ROI Measurement, Actionable Intelligence on parameters like
    • Comparative impact of difference branding elements on sales throughout. 
    • ISD relevance to counter share. 
  • Strengthen Partner Engagement
    • Ready Reckoner on Product and Schemes
    • Ease of Communication with the Brand
    • Stock Indenting

Check out my Infographic on it: Advantages of Channel Management Software
Labels:

Comments

Post a Comment

Popular posts from this blog

To Use or Not To Use Logitech Wireless Keyboard - K400 Plus?

Review of Logitech Plus Wireless Keyboard (K400 Grey)The Logitech K400 Plus Wireless Keyboard is one of the best wireless keyboards in its class that I've got to use. Have been using it for the past couple of months and it's been an amazing experience, although Logitech could have made it a little bigger.  Let me bring forth the pros and cons of the product: Pros -Plug and Play - No additional software installation, just plug the Universal USB Connecter and voila its starts working.Wirelessly Control PC-to-TV Entertainment from your couch! Time to get lazier after hard days work. No wires, it connects through Bluetooth so you can keep your laptop at one end and operate it from another corner. A 10-meter range is like the cherry on the topping.Unifying the Keyboard and Touchpad make it more convenient than having a combo of wireless keyboard and mouse.Keystrokes are not very noisy at all.Gesture are really very convenient and better than my laptop touchpad(they've blatantly c…
3 comments
Read more

To Use or Not To Use ON(Optimum Nutrition) BCAA?

Rebuild and Recruit Muscle while preventing muscle loss with BCAAWhat are BCAA's?According to Wikipedia, branched-chain amino acid (BCAA) is an amino acid having aliphatic side-chains with a branch (a central carbon atom bound to three or more carbon atoms). Among the proteinogenic amino acids, there are three BCAA's: leucine, isoleucine, and valine.In simple words, BCAA is a supplementation that may be useful in gaining and maintaining muscle mass. They are especially helpful in maintaining the muscle mass on a calorie deficit diet. Indian vs US based product?After reading about the benefits of BCAA's, I decided to add them into my regular diet. While buying the product I was a bit confused about going for the Indian or US-based brand
Indian brands were cheaper while US-based brands would burn a hole into my saving. The trust factor was completely missing with the Indian based Fitness products. In-depth details and reviews about US based products were available. Add to that…
3 comments
Read more