Literature on marketing management wax eloquently about market segmentation / customer segmentation. As regards Channel Management, the different kinds of channels are written about - but less is mentioned about segmentation WITHIN a channel.
Experienced and Savvy Channel Managers recognise the differences between Channel Partners who work with them. Accordingly, they customise their approach to Channel Partners.
STARkGrid (www.STARkGrid.com) gives form to what these effective Channel Managers have been doing. It provides a framework for Channel Managers to assess their channel, segment it and adopt customised strategies for each channel segment.
Besides, by consciously creating channel segments, and grouping Channel Partners under the most appropriate channel segment, the organisation is able to work towards scalable solutions for each channel segment - instead of depending entirely on customisation by individual Channel Managers.
Product manufacturers and service providers need to use multiple channels to tap into the immense market potential for their offering. Channel Managers are challenged in handling Channel Partners, especially when they sell multiple brands and other competing products. How can Channel Managers get the best out of their Channel Partners?
In a 3-factor model with 2 levels of measurement, an individual Channel Partner can have one of 8 profiles. Each of these 8 profiles calls for a different competitive strategy. Thus, by segmenting Channel Partners into these 8 profiles, the Channel Manager is able to use competitive strategies that are most appropriate for individual Channel Partners.
The distribution of Channel Partners within the STARkGrid of 8 boxes throws up stark details of the strength of each Channel Manager's channel. It also helps the Channel Manager assess the fitment between his / her personal profile, and the profile of the channel they manage.
Re-assessing the grid strength every 6 months provides useful insights on where the Channel is transitioning; and whether the results of any pro-active strategies are visible.
Finally, the grid gives a stark message to Channel Managers - Are they in control of their destiny? Or, are competitors controlling their destiny?
Visit www.STARkGrid.com for further details.
