A repository of acronyms, jargon, and useful definitions perfect for eCommerce founders & marketers like yourself.
The process by which a business tries to build up effective marketing and sales strategies to boost its customer engagement as much as possible is what we refer to as Channel Management. Channel Management is used in the sales and marketing of the products.
In simple terms, channels are nothing but gateways to advertise and sell your products and their major goal is to deepen the relationship of any business with its customers. If you are the owner of an eCommerce business, then marketing your products over different channels will not only help you reach out to more customers but will also enhance the experience of your customers via personalization i.e. a customer can get to know about your products from advertisements on Facebook, Instagram, YouTube, etc. which means that your brand is visible to your customers across multiple channels. This marks an impression in the head of your customers and is thus one of the most effective marketing strategies.
Channel Management is about developing a program for selling your products on a particular channel and it aims in building up better communication between your brand and the customer. However, you should manage your channels according to the requirements of your customer, i.e you should build the program based on the needs and buying patterns of your customers.
When you communicate with your customers over multiple channels, channel management can help you find out which marketing channel is helping you achieve your desired sales goal. Even though the marketing techniques used in every channel are different, the overall strategy that is executed over all the channels aims at strengthening the relationship of the business with the customers.
When you are advertising and trying to sell your products over a channel, figuring out the right target audience can help you determine which product you should market over which channel. This is also a part of channel management.