Sales Channel Strategy for Business Success Pt 1

Capture and Use Detailed Market Information

A broad and deep understanding of the market is critical to the creation of a sustainable market position. Winning marketers have developed a ‘map’ of their market, including the most actionable segment definition, profit potential, buying behaviours and decision processes, size, outlook, needs, expectations, competitive dynamics and sourcing preferences. The market map provides an objective context for internal discussions regarding strategy alternatives and resource allocation decisions.

Accelerate the Planning Process

Markets are changing faster than ever before and so must your planning process. You cannot get caught in the never ending cycle of analysis planning that is characteristic of many organizations today. The planning process of the future is one that is decision centric, rather than analysis centric. The planning process should be designed to use the existing body of knowledge of your organization. Senior managers should be more involved, and involved earlier, in your annual planning process.

Rather than a management meeting to culminate a lengthy analysis conducted by several layers of the organization, the plan should be initiated by senior management. Use the senior management meeting to kick off the planning process and define the strategy, then let the organization validate the assumptions. The result will be a quicker developed plan, much more reflective of current market reality, and one in which senior managers are much more invested.

Streamline Your Organization for Speed and Flexibility

Effective market management will require speed in decision making and flexibility in action. An organizational structure that supports this will consolidate channel management under one group within the organization.  In addition, consolidating all products, programs, and channel relationships will serve to enhance your market power.

Regain the Power of Your Brand

One of the most vital tools you have to retain customer relationships and power in the marketplace is your brand. Therefore, you will be well served to reinvest in establishing brand value. This will be done by clearly articulating the value your brand stands for and consistently delivering against this value. Brand value will be a powerful tool to secure your market presence.

Win at the Local Level

A local market management philosophy may be the single biggest factor that separates the winners today. Customers have a wider range of channel choices than ever before. Information is more widely available. Customer segments are using these choices and information to evolve their buying behaviours in different ways and at different rates. The result is that the ‘map’ of local markets is likely to vary widely, and the most appropriate channel strategy is likely to vary significantly from market to market. The successful marketer will recognize these differences. Local market managers will be given the autonomy and flexibility to customize the local channel strategy to local conditions.

Corporate policies serve as a set of guidelines and programs serve as a menu from which the local manager designs the unique channel mix to optimize share and profitability. Winning marketers have recognized that it often requires different skill sets and compensation for the local market manager operating under this model versus a traditional sales capacity.

http://www.adversityovercome.com

http://business-success22.blogspot.com