Imperatives of Channel Management

For a software product vendor, dependence on channel partners as extensions of its sales, implementation and support teams has increased many folds. For these vendors building and managing the channel eco-system is critical. Critical as it may, sadly most of the product vendors and especially in the mid-market space lack a comprehensive channel program, forget a channel management strategy.

We all know that Channel Management is not just about talking and getting connected to a set of similar companies and coercing them to start positioning and eventually selling ‘A’ solution.

The discussion below tries to list down some of the few imperatives that a vendor must understand and undertake before embarking on a Channel Program.

Future of Retail

Few segments of the industry have changed as dramatically in recent times as Retail. Many retailers continue to view the changing business landscape as a result of the ebbs and highs of a turbulent economy and as a result continue to exercise the traditional models of cost differentiation to increase sales and customer footfall.

Changing socio-economic landscape clubbed with the 2 most constrained entities for a customer – time and money have lead the customer to be far more rushed and hence demanding. Customers are going far beyond the traditional media to inform their purchasing choices. Near continuous access to the internet, influence and penetration of Social Media, is letting the customer maximize both his time and wallet. Shopping and product experiences are shared and discussed online substantially influencing a customer’s decision and buying pattern.