| Executing an effective channel sales strategy is a | | | | Creating a table is an easy and organized method |
| critical component of a successful channel business | | | | of comparing potential partners' qualities to that of |
| endeavor. Its formulation and design depends on | | | | a set criteria of characteristics classified as |
| thorough and careful analysis and planning. It | | | | business process, advertising, promotion and |
| follows certain steps that begin with understanding | | | | compatibility. |
| your channels, down to the continuous | | | | Business Process Characteristics |
| management of recruited partners. | | | | This criterion will allow you to objectively study |
| Probably one of the most vital and challenging | | | | how potential affiliates perform business |
| steps in formulating channel sales strategy is | | | | processes, execute channel management and |
| selecting your potential channel partners. Right | | | | conduct various non sales related tasks. A detailed |
| now, there are a lot of businesses that commit | | | | list of the areas to study includes the following: |
| themselves to their own channels and sell | | | | expenses, adequate to substantial resources, |
| products down to their end consumers. The huge | | | | high-performance levels, efficiency and good |
| population increases competitiveness which makes | | | | standing in the industry. |
| it difficult to gather a list of credible and | | | | Advertising or Promotion Characteristics |
| appropriate potential partners. However, no | | | | By reviewing their capability in the areas of |
| matter how tedious or complex it may be, it is | | | | marketing and sales, you will be able to determine |
| something that companies cannot afford to | | | | whether or not they fall below your expected and |
| accomplish half-heartedly. | | | | required standards and can keep up with your |
| Before getting down to the task of selection, it is | | | | pace. Review how they fare with the following |
| very important to identify who your potential | | | | details and make a critical comparison: influence |
| partners are. Begin by listing down all the available | | | | presence, marketing strategies, enrichment of |
| partners you believe to be worth your | | | | goods and services, expected payment/reward, |
| consideration. Researching their attributes, | | | | level of skill and ability. |
| accomplishments, management and marketing | | | | Compatibility Characteristics |
| strategies, goals and philosophy will help you paint | | | | If partners are not compatible with your |
| a better picture as to who they are as a | | | | objectives, mission and vision, then it wouldn't |
| company and what they can offer you now and | | | | matter if they are the best out of the bunch. |
| in the long run. Moreover, you can use this | | | | Partnerships require collaboration, cooperation and |
| information to find out if they are compatible or | | | | communication. A strained business relationship will |
| suitable to your business operations and | | | | produce nothing but losses and disappointments. |
| objectives. | | | | To check whether or not a certain company is |
| The next thing you have to do after listing down | | | | compatible with you, consider the following |
| all your potential partners is to finalize the list. It's | | | | qualities: dedication, allocation of sales and |
| time to engage in the formal recruitment process. | | | | marketing resources to products, willingness to |
| Actually, this is the most complicated part of the | | | | collaborate, openness to a shared channel |
| channel sales strategy design and formulation | | | | strategy plan, and sharing similar vision and |
| because one wrong choice can have dire | | | | perspective. |
| consequences and potentially harm your channel. | | | | |