Channel Marketing Key Terms

Learn about different aspects of channel marketing for businesses

Channel marketing is way for many businesses to attract new customers or entice current customers to keep coming back. Channel marketing requires a business to partner with a similar business in order to attract interested customers for both businesses. Networking through channel marketing is a successful technique to reach a new audience that might not have been aware of the other business. This can work equally well when both businesses are promoting each other's services or products.

 

Co-branding

Co-branding is the process of linking multiple brands to a product or service. Co-branding is used to take the positive aspects of both brands and put them together to sell a single product.
Try: Accenture provides information on the objectives of co-branding and the different types of co-branding used for different types of businesses.

Channel strategy

A channel strategy is the idea on how to accomplish a specific objective. The channel strategy has a number of attributes to help the company match its strengths with the weaknesses of the competition and be successful in channel marketing.
Try: Bridge Strategy Group outlines the key challenges that must be met for businesses to have a successful channel strategy. BNet provides advice on creating a channel marketing strategy.

Market development funds(MDF)

The market development funds are the funds used to support any initiatives in the channel marketing strategy such as advertising, incentives and trade show expenses.
Try: Search IT Channel provides a information on how a business can make the most of its market development funds.

Objective

The objective in a channel marketing strategy is the long-term goal set by the companies. This goal often takes two or three years to complete and is successful when smaller milestones are set.
Try: Partners in Excellence provides case studies on successful channel marketing partnerships that defined clear objectives to shape the marketing strategies.

Channel captain, channel manager

A channel captain, or channel manager, is the partner given a leadership role in the marketing campaign. The captain helps to prevent conflict and organize the channel.
Try: Salesforce provides information targeted to the channel manager that includes finding the right partnerships and using best practices.

Channel partner

The channel partner is the other business that exists in a channel marketing relationship. More than one partner can exist in a channel partnership.
Try: Microsoft Office Online provides the steps on identifying and choosing a successful partner in channel marketing.

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