To get the products, and even services, from businesses to the end consumer, very often, one or more middlemen are involved. The reason why businesses involve these middlemen is simple – tap into their readily available network so that their offerings can reach customers more efficiently. We all know how important networks are today, how they help make things more effective and efficient. Network value is one of the key reasons why we engage and build relationships with the various marketing channels (middlemen). We may have this value in our hands, but how can we make this value grow?
Good channel management – this will enable consistent and even timely information flow from one end to the other. It is important for details and prices of goods offered to be crystal clear so that no one in the channel is confused. One confusion can lead to another, and ultimately, the consumer. The last thing we want to see happening is for our consumers to be confused.
We all know some ways that businesses can build relationship and entice channel members to engage in cooperative actions. Trade promotions, discounts, and many more. No doubt that these methods will help increase sales, but very often, once something good is offered to the members, they would expect something even better next time. Channel members are our customers, so we have to manage their expectations like how we manage our end consumers' expectations. But how can businesses manage their offerings to the channel members to ensure sustainability and continuous growth?
If you are keen to find out how you can better manage your channel members, do check out Loyalty World Asia 2013 Conference now! It is Asia's largest gathering of CMOs and Loyalty Heads across major customer-centric industries!