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My-CHM is based on strong premise about channel marketing
- A vendor tries to develop his channel through various marketing methods available with him. These can be summarised under three heads:
- Providing incentives: Monetary and non-monetary rewards abound in the Indian market with each vendor trying to improve upon others almost on a quarterly basis. Some plans are more attuned to the market condition and hence find more favour with the channel member while others fail to inspire him.
- Building relationship: Several direct and indirect methods are deployed to cement the relationship between the vendor and the channel. Direct methods include Channel contact programmes, quick response level, easy administrative process, salesman relationship, platform for redressal of grievances etc. while indirect methods include Company image building, technological capability etc.
- Sales support: Sales support could also be viewed as a more tangible and result oriented aspect of relationship building where the vendor tries to help the channel in the selling process. Vendor may try to develop an effective team through better recruit methods, improve their lead generation ability and finally arm them with inputs on product and effective selling methods. In some cases, the vendor himself may get involved in lead generation and sales presentation & negotiation to facilitate performance of the channel.
- In the end, the vendor hopes that he develops a channel that is both committed to him and at the same time competent to push his product
What My-CHM aims to address?
- While better incentives and relationship building help in increasing the commitment of the channel member, sustained sales support will go towards greater competence in selling on the part of the channel member.
- In this scenario, it is important to establish a feedback loop with the channel as to what contributes to better incentives, relationship and sales support. My-CHM tries to address these issues
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Inputs Vendors need
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What information need to be colected?
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What constitutes better incentives?
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What the channel thinks of your incentive plan?
Which plan inspires them and why?
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What constitutes better relationship?
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Which factors are critical to relationship building and how the vendor is seen on these factors by the channel?
What the channel thinks about the quality of relationship it enjoys with vendor against others?
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What constitutes better sales support?
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Which factors determine effective sales support and how the vendor is seen on these factors by the channel?
What the channel thinks of your level of sales support vis-a-vis competition?
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Finally, are all these inputs leading to more effective selling on the part of channel member?
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How does the channel handle customers?
How do they handle customer queries?
How loyal are they in pushing their brand over others?
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