Identifying 'Low' and 'High'

At a recent StarkGrid Talk, I was told that participants may not know how to identify whether the partner is 'low' or 'high' in other business.  Fair point.  Here is how you can handle it.

1. Once a position of comfort is established, then partners are not averse to sharing information.  They will not give you exact numbers, but will offer enough hints.  Leading questions, brought up in a friendly format, are useful - Why do I get the feeling that you are doing a lot more ULIP than mutual funds? Or, Sir, your cheques have decreased - kya ho raha hai? Or, I told my boss yesterday that for Product X you always come to us.  Watch the partner's face when you make these statements / questions.  If he looks embarassed or tries to avoid eye contact, then you have your not-so-pleasant answer. 

2. It is always better to meet the partner at his / her work place.  The posters that are put up, the discussions that happen amongst his colleagues or the telephone calls that the partner receives - are useful information.

3. When you are at a cocktail event, watch for the people with whom the organisers spend the most time.  These are likely to be the organiser's A category partners.

4. In the retail industry, a mystery shopper is often used.  The mystery shopper visits the partner as a prospective buyer.   Feedback from the mystery shopper is an excellent indication of what products are being pushed and on what grounds.

An experienced and observant person, over time, learns to form an opinion (market intelligence) about how much business is happening in his territory, and through whom.  

Need for STARkGrid Channel Strategy

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.