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

Channel management is crucial for companies looking to expand their market presence and increase their sales. By working closely with distributors and retailers, companies can ensure that their products are reaching the right customers in the right places. Channel partners also play a key role in providing valuable insights into market trends, competition, and customer preferences, helping companies make informed decisions about pricing, positioning, and promotion.

One of the main benefits of channel management is increased efficiency. By managing relationships with channel partners, companies can streamline their distribution processes, reduce costs, and minimize waste. For example, a company may choose to work with a limited number of strategically chosen distributors who have strong relationships with key retailers, rather than trying to reach every retailer on their own. This can lead to lower distribution costs and faster delivery times, ultimately improving the customer experience.

Channel management also allows companies to leverage the expertise and resources of their channel partners. For example, a company may lack the resources to effectively market its products in certain regions or industries. By working with distributors who have a strong market presence in those areas, the company can tap into their partner’s knowledge and connections to reach new customers and expand their market share.

Furthermore, channel management can help companies build stronger relationships with their customers. By working closely with distributors and retailers, companies can better understand their customers’ needs and preferences, and tailor their products and services to meet those needs. This can lead to increased customer satisfaction, loyalty, and repeat business.

In today’s competitive market landscape, channel management is more important than ever. With the rise of e-commerce and the globalization of markets, companies need to carefully manage their distribution channels in order to stay ahead of the competition. By developing strong relationships with channel partners, companies can adapt quickly to changing market conditions, seize new opportunities, and effectively meet the needs of their customers.

Overall, channel management is a vital component of any successful business strategy. By effectively managing their distribution channels, companies can increase their market reach, improve efficiency, leverage the expertise of their partners, and build stronger relationships with their customers. In an increasingly complex and competitive market environment, companies that prioritize channel management are more likely to succeed in the long run.

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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