Channels are the way that you reach and engage with your target market.
Channels can be everything from how you ship physical products to how you communicate with customers online. Write down all of the channels your business will need to use.
Your business will have channels that it owns and channels that its partners own. For instance, your website is a channel that your company owns. If you sell products in a retail store, then that is a channel that a partner owns. Make a note of which channels are owned by your company and which ones are owned by partners.
You also have two types of channels, direct and indirect. Partner channels are indirect channels. Owned channels can be direct channels, including your website, in-house sales team, and customer support team.
Your goal is to find the right balance between owned channels and partner channels to create the best customer experience and generate the most profit. Partner channels allow you to grow faster by leveraging the strength of other companies, but they tend to have lower margins. On the other hand, owned channels have better margins but can take longer to implement and scale.
Channels are the way that you reach and engage with your target market.
Channels can be everything from how you ship physical products to how you communicate with customers online. Write down all of the channels your business will need to use.
Your business will have channels that it owns and channels that its partners own. For instance, your website is a channel that your company owns. If you sell products in a retail store, then that is a channel that a partner owns. Make a note of which channels are owned by your company and which ones are owned by partners.
You also have two types of channels, direct and indirect. Partner channels are indirect channels. Owned channels can be direct channels, including your website, in-house sales team, and customer support team.
Your goal is to find the right balance between owned channels and partner channels to create the best customer experience and generate the most profit. Partner channels allow you to grow faster by leveraging the strength of other companies, but they tend to have lower margins. On the other hand, owned channels have better margins but can take longer to implement and scale.