THANK YOU FOR SUBSCRIBING
Leveraging the channel marketing program, manufacturers can get ready to accomplish short-term goals while still achieving their targeted results.
FREMONT, CA: An ongoing challenge that continues to give manufacturers problems as they attempt to move past the COVID pandemic is the supply chain. Manufacturers are still waiting to see favorable results, even though using artificial intelligence and machine learning over the past few years has led to data-driven supply chain analysis, planning, and optimization activities. It is because the labor demand for tasks like handling and delivery that are closest to the commodities has decreased to levels not seen in decades. Manufacturers continue to innovate, as seen by the approaching conference season, where the newest goods and services are showcased and announced, igniting interest in the future among dealer and customer groups.
Another strategy to boost sales in the latter part of the year is to offer consumers a reason to buy from manufacturers after the conference season. To guarantee orders are placed promptly and the brand's revenue targets are met, brands and their channel marketing teams should consider time- and volume-based customer rebates.
Motivate dealer behavior
Utilizing the sales performance incentive fund program is one-way-channel marketers may ensure their dealer networks are appropriately focused and motivated. For instance, think about developing a SPIFF that encourages dealers to make decisions about new items and projects faster than usual. Manufacturing brands may maintain the momentum from conference season, quicken the usual decision-making process and timeline, and reduce the effects of potential supply chain problems that may persist into the next year by encouraging dealers and customers equally.
Program jumpstart funding
A manufacturing brand's co-op or market development fund program is a crucial part of supporting top- and mid-funnel path to buy activities, in contrast to SPIFFs and rebates, which offer incentives for dealers and customers at the bottom of the purchase funnel. It involves giving a dealer's co-op fund or MDF a one-time boost used within a certain amount of time. It will encourage and give dealers a sense of urgency to use their extra funds as soon as possible after conference season. Manufacturers must consider two choices connected to their co-op or MDF program to kick-start and promote post-conference sales activity.