Channel

Sometimes it seems like all you do is blink, and when you open your eyes the world around you has completely changed. The grass is a little taller. Your hands look a little older. A new form of technology has been announced on the news. Change is our only, true constant companion. In a digital landscape, this constant change presents both unprecedented challenges and exciting opportunities for channel marketing and sales leaders. Current trends in channel marketing, such as the adoption of artificial intelligence and machine learning, the increased focused on risk management, stricter global regulations, and growing channel ecosystem complexity, are all reshaping how we connect with partners and customers.  

At some point, you’ve likely heard the adage, “Go where your customers are.” Nowhere could this be truer than in channel management, where optimizing market coverage is a major priority and a driver of growth. However, the recent evolution of the channel landscape has added more complexity to the process. In just two decades, the number of channels available to both B2B and B2C consumers has expanded, creating a “good problem” for companies seeking to increase channel sales.

Close your eyes and think about all the places you can now purchase products. There are traditional brick-and-mortar retail outlets like GAP or Dick’s Sporting Goods, or online e-commerce sites like Amazon or Newegg. You can click an ad you see on Instagram or Facebook, or maybe your favorite YouTuber shared a new product. It's never been easier for companies to reach customers. However, this proliferation of channels presents brands with a plate of jumbled spaghetti noodles – disparate partners and mounds of unorganized data – and they are left to try and sort out one strand of pasta from the next. Such complexity demands a more sophisticated, organized approach to channel management.

In today's fast-paced business environment, the dynamics of sales channels are undergoing a profound transformation. Traditional methods are being challenged by evolving consumer behaviors, technological advancements, digital transformations, and the emergence of new stakeholders. As businesses adapt to these changes, the impact on channel partner programs becomes increasingly significant. Let's delve into how these shifts are reshaping the landscape of channel management and what strategies businesses can employ to navigate this evolving terrain.

Step into a world where enchanted swords clash, spells weave through the air, and a diverse band of adventurers unite to face insurmountable challenges. No, we’re not describing a mythical realm but the captivating parallel between managing a partner ecosystem and playing the fantasy tabletop role-playing game Dungeons & Dragons (often called D&D by enthusiasts).

Step into a world where enchanted swords clash, spells weave through the air, and a diverse band of adventurers unite to face insurmountable challenges. No, we’re not describing a mythical realm but the captivating parallel between managing a partner ecosystem and playing the fantasy tabletop role-playing game Dungeons & Dragons (often called D&D by enthusiasts).

Step into a world where enchanted swords clash, spells weave through the air, and a diverse band of adventurers unite to face insurmountable challenges. No, we’re not describing a mythical realm but the captivating parallel between managing a partner ecosystem and playing the fantasy tabletop role-playing game Dungeons & Dragons (often called D&D by enthusiasts).

Recently, global retailer Walmart announced that a significant technology change would occur on March 1st, 2024, and its suppliers would need to act. Since 1992, Retail Link has been the portal through which Walmart gives its suppliers access to sales data, reports, and forecasts. But not anymore! If you are a sales or supply chain leader who makes decisions based on the data Walmart provides, Walmart Luminate will be your new technology solution.

A Google search for the term “subscription” produces about 6.51 billion results. By comparison, a search for “ERP” yields 448 million results, and a search for “supply chain” returns 1.16 billion results. The point is – the subscription business model continues to be popular.

But how did we get here?

For retailers and consumer goods companies, the calendar is not measured in months but in peak seasons. Rather than the Earth’s movement or the Lunar calendar, events and traditions (mainly with religious roots) determine the peak seasons. Christmas, Diwali, Easter, Eid, Hanukkah, Halloween, Father’s Day, Mother’s Day, and Valentine’s Day. Some are linked to the social and work calendar: Back-to-School, Summer holidays; yet others are political like Guy Fawkes Day, national independence anniversaries, and more. And others are artificially created to stimulate sales between: Black Friday, Amazon Prime Day, and Cyber Monday. Whatever the nature of it, being ready for the rush is a success and survival matter for retailers and consumer goods companies.

By this point, there probably aren’t many people left who don’t know what an “influencer” is. It seems like no matter where you look, there’s someone in your social media feed plugging a business or service. While at first glance this may seem like yet another simple social media trend, the truth is that influencers can serve a very important purpose in a brand’s greater marketing strategy.

I was just reading another fascinating post from Jay MacBain: Subscription and Consumption Models Are Expandingand it made me ask: Why is the subscription model popularity increasing? Why is the number of partners actively selling increasing in this model? And what does it take to make it work for a company?