Channel Management Statistics


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Channel Management Statistics 2023: Facts about Channel Management outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Channel Management, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

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Top Channel Management Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 23 Channel Management Statistics on this page 🙂

Channel Management “Latest” Statistics

  • At any one moment, channel partners throughout the world keep unsold goods worth an estimated $1.5 trillion.[1]
  • According to Zinfi, Worldwide channel survey, 60% of market development funds are not utilized on a quarterly basis.[2]
  • Vendor channel initiatives are overly complicated, according to 73% of partners. (360Insights – 2112 Group: Ease of Doing Business Report, 2019).[2]
  • High performers devote 17% of their overall marketing expenditure to channel marketing.[2]
  • Even though just 12% of respondents said they now utilize vendor supplied TCM through channel marketing tools, more partners are keeping an eye on them.[2]
  • Technology firms, many of which earn up to 90% of their income via channel partners, face significant issues due to the ineffective handling of channel data and the associated lack of knowledge into partner and program effectiveness.[3]
  • For channel manager and property management system integration, a fee of $199 is incurred during setup.[4]
  • Popular channel managers like SiteMinder and myallocator (Cloudbeds) start around $75 per month and are extremely affordable.[4]
  • The organization is also siloed, with our research revealing that only 43% of channel marketers report into the marketing or sales department.[1]
  • Channel Data Management (CDM) automatically manages channel sales providing real-time data and insights into partner performance.[7]

Channel Management “Other” Statistics

  • 64% of firms expect their mix of offerings to change to new types in the next two years, 22% of firms expect no change in their portfolio and 14% of firms do not yet know.[2]
  • Our machine learning method, which has been shown to be 97% accurate, is the foundation of the rate recommendation engine.[5]
  • A research from Cornell university’s School of Hotel Administration found that hotels who joined stash hotel rewards saw an annual increase in room nights for each visitor of approximately 50% and an increase in revenue of 57%.[6]
  • At the same time, OTAS are becoming more well known, increasing the visibility of hotels to tourists throughout the globe. For instance, in the United States, OTAS accounted for 39% of the digital travel market in 2017.[6]
  • Adopting robust CDM procedures is in the best interests of sales executives; businesses that do so often see a 5 to 10% boost in overall sales.[1]
  • Channel pros are struggling with managing lead passing and opportunity progression. In fact, 73% of marketers consider managing partners a major challenge.[1]
  • 62% of strong performers have various partner identities’ continual partner enablement in place.[2]
  • Eighty four of the partners lacked a committed marketing resource.(Zift Solutions – SiriusDecisions Summit Highlights, 2019).[2]
  • 20% of partners are reportedly studying the tools, while another 35% are piloting them, according to the research.[2]
  • Only 15% of partners participate in the marketing initiatives that their suppliers provide, according to DemandGen Report (2019).[2]
  • Compared to low growth firms, high performing organizations spend 23% more on MDFs.[2]
  • Only 50% of reselling partners had a strategy for switching to the cloud, and 42% of partners said they were unsure of where to begin.[2]
  • If a reservation is booked via an OTA, you may typically anticipate paying a commission charge of between 15%-25%.[8]

Also Read

How Useful is Channel Management

In the fast-paced and ever-changing world of commerce, channel management plays a vital role in helping businesses stay competitive and relevant. By carefully overseeing the distribution and placement of a company’s products, channel managers can ensure that their brand maintains a strong presence in the market, avoiding stock-outs or overstock situations that can lead to lost sales and dissatisfied customers.

Moreover, effective channel management can help businesses expand their reach and tap into new markets. By identifying and developing partnerships with key distribution channels, companies can reach a larger customer base and gain exposure in new geographic regions where their products may not have been available before. This strategic approach to channel management can lead to increased sales volumes and sustained growth over time.

Channel management also plays a crucial role in maintaining strong relationships with channel partners. By cultivating open lines of communication and providing necessary support and training, businesses can foster mutual trust and collaboration with their distributors and retailers. This, in turn, can lead to higher levels of motivation and dedication among channel partners, as well as a greater willingness to promote and sell a company’s products over those of competitors.

Furthermore, channel management can help businesses stay agile and responsive to changing market conditions. By regularly evaluating channel performance and market trends, companies can adapt their distribution strategies and tactics to capitalize on emerging opportunities and mitigate potential threats. This proactive approach enables businesses to stay ahead of the curve and make informed decisions that will positively impact their bottom line.

Overall, channel management serves as a critical tool for businesses seeking to optimize their distribution network and drive sales growth. By carefully managing relationships with channel partners, identifying new market opportunities, and staying current with industry trends, companies can leverage channel management to their advantage and build sustainable competitive advantages in the marketplace.

In conclusion, channel management is undeniably useful for businesses that rely on various distribution channels to reach their customers. By overseeing the distribution and placement of products, expanding reach into new markets, maintaining strong relationships with partners, and staying agile in response to market conditions, businesses can maximize their sales potential and achieve long-term success. It’s clear that channel management is a valuable asset for any business looking to thrive in today’s competitive business landscape.

Reference

  1. destinationcrm – https://www.destinationcrm.com/Articles/Web-Exclusives/Viewpoints/4-Big-Sales-Benefits-of-Channel-Data-Management-117482.aspx
  2. getlift – https://www.getlift.com/blog/20-b2b-channel-partner-marketing-statistics
  3. vistex – https://www.vistex.com/resources/channel-data-management/
  4. hoteltechreport – https://hoteltechreport.com/revenue-management/channel-managers
  5. airdna – https://www.airdna.co/pms-channel-manager
  6. altexsoft – https://www.altexsoft.com/blog/business/hotel-revenue-management-solutions-best-practices-revenue-managers-role/
  7. modeln – https://www.modeln.com/products/channel-data-management/
  8. siteminder – https://www.siteminder.com/r/channel-manager-hotel/
  9. teradata – https://www.docs.teradata.com/r/mMbx218rs2BUmLJDwMjQpA/DPO~VOKvNDD0XMgxcLh9tQ
  10. forrester – https://www.forrester.com/blogs/channel-data-is-a-competitive-differentiator/

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