Please refer to my comments posted earlier on key account management.
CHANNEL MANAGEMENT:
Channel management is the management of indirect sales/service for an organisation and is a vast subject which cannot be covered in minutes of writing. However, the following would give a broad idea on channel management.
An organisation parts off a workable margin to their channel partners to meet their bottom line and cost of sales/service.
Thus the emphasis in channel management is to maximise the business thru the channel partners by maximising the reach in the given market territory.
Every channel partner is like an enterprise OR SBU working to increase the business of the principal company and therefore all required supports are to be extended in terms of business planning in line with the principal company, market and product knowledge, selling skills, sales cycle, post sales activities, stocking, etc..
Channel management involves activities from identifying the right business partners, agreeing upon common business goals/ethics, ensuring infrastructure required, financial strengths verified to run the business, human resources required, collecting/sharing and management of information and all other related activities to meet the business goals.
Channel management is an ongoing process of monitoring, developing, training, on the field coaching and fine tuning the above mentioned resources of the channel partners for continuous business growth. Resolving the conflicts of interest is also an important role in channel management.
Flow and exchange of information on policies, pricing, and promotional schemes are to be maintained on a regular basis.
Firm commitments and deadlines are to be met at both the ends for mutual business interest.
Performance management system to be in place for periodical business reviews and agreement on future action plans.
