75% of world trade happens through channels. Through Channel marketing (TCM) is hence an accepted mode of marketing that helps principal organizations sell their products and services, whether it is selling software products or cars. For years now, channel partners have been an extended arm of marketers in organizations, working together to achieve sales targets. Today, most principal organizations have automated their marketing function. However their channel partners haven’t or are left to deal with simple tools that do not give them the kind of intelligence needed to win in the omni-channel world. One can almost hear marketers ask, ‘why does my channel partner even need a marketing automation tool’, or ‘how is this marketing automation tool going to benefit both me and my partner?’
Over three fourth of world trade happens through channels. Are you equipping your Channel Partners to market well?
The answer lies in these critical questions: do you have visibility on the overall demand created by your channel partners collectively? Without the visibility can you predict / forecast sales accurately? Think of the MDF that principal organizations pass on to their channel partners – don’t you have zero visibility into how every MDF dollar is being used to convert to sales? The same goes for marketing promotions.
Today, principal vendors can no longer take solace in having provided their channel partners with a few links to their website or some outdated marketing collaterals or shared access to an online content repository. Without the most recent brand assets and marketing materials, the lack of brand consistency in marketing efforts through channel partners can be very detrimental to a brand’s values.
So is Through Channel Marketing Automation (TCMA) the next sales growth engine? Author Jay McBain of The Forrester Wave™: Through-Channel Marketing Automation, Q2 2018, states: “TCMA is now a critical component of the marketing portfolio that amplifies customer-facing content and messaging.” The TCMA numbers clearly indicate that not only is it the next sales and marketing growth engine, but a very crucial one. Maria Chien, Services Director, channel marketing strategies, of SiriusDecisions insists: “Partner enablement is going to be a competitive differentiator for organizations.”
TCMA is critical for marketers within principal organizations to assess the effectiveness of every MDF dollar spent translating into perhaps 5x revenues. With feature-rich TCMA tools, a unified dashboard for instance, could show demand created across the ecosystem, increasing revenue predictability. Or deliver campaign-in-a-box (CIB) to their partners, providing a seamless and consistent customer experience with synergistic marketing campaigns, delivering the same and aligned message across the ecosystem.
Channel environments are tough and highly competitive, thus providing channel partners with technology tools can definitely go a long way in deriving more value from the engagement, proving to be a win-win for all. Stay tuned to understand how a smart TCMA tool can increase efficacy, deliver more bang for your marketing buck and answer your question, ‘is TCMA for me?’ in our next. To learn more about how Augentia’s CIB, drop us a line.