Last week We Are Acuity revealed its superpower as Channel Marketing experts. It was like that moment Superman discovered he could fly, or Spiderman realised he could climb buildings. It turned out the only thing that had stopped us realising our superpower was a little bit of sector jargon – heck jargon is no good for anyone? Especially if you work in #Marketing.
So now we’re talking in plain English. Why is Channel Marketing awesome, why do we love it and what types of sectors / businesses does it commonly suit?
If you know, you know right? But there’s no harm in a little reminder is there…
When businesses (i.e. #brands) partner with 3rd parties (i.e. channel partners) to reach customers, whether those are individual shoppers (#b2c) or other businesses (#b2b), that’s called Channel Marketing.
Simple right? It is, but it’s quite nuanced as each of those channel partners needs to be understood and looked after in just the right way.
You see it involves brands cultivating and nurturing relationships with channel partners like resellers, agents, brokers, franchisees, retailers, affiliates, or other representatives to optimise their performance in distributing and promoting your products or services.
It’s a symbiotic relationship, most common in the #technology, #medical and #product sectors. Each party brings their own strengths to the relationship, each needs to know and understand what the other needs. The brand needs to remain true, but how and what it supports each channel partners with needs to be tailored and distributed. That’s where our expertise lies.
So, what’s in it for each party?
1. Expanded market reach. Your channel partners will increase your brand’s footprint, giving you access to more customers. They benefit from a wider range of products on sale, diversification, and increased revenue streams.
2. Increased exposure. Your products will be stocked by established channel partners amongst other well-known brands. They benefit from the demand for your products, market differentiation and reduced risk of being over reliant on fewer brands.
3. Cost-effective distribution. Your channel partners already have logistics in place. They benefit from scaling with more brands, more connections, and more collaborations leading to opportunities for mutual growth.
4. Enhance customer engagement. Your channel partners will introduce you to their customers. They benefit from being able to talk about your brand, improve their customer satisfaction and create cross-selling opportunities.
5. Leverage channel partners expertise. Your channel partners will already understand their customers’ needs. Your products will satisfy those needs and your brand’s marketing support can enhance the effectiveness of their promotional activities.
So are you reaping the rewards of Channel Marketing? If you're seeking a friendly agency partner with 25 years of know-how, reach out! Our schedule for 2024 is filling up fast, and we'd love to chat with you. A complimentary discovery call with our Managing Director, Peter, is just a click away!
Or if you'd like to read more about Local Marketing have a look at our blog page "Local Thinking': https://www.weareacuity.com/local-thinking-our-blog