6 factors for choosing the right distribution channel for the growth of your business
In recent years, many companies have decisively addressed their key distribution functions. While the traditional channel continues to play an important role, we see strong growth in our customer recruitment needs, especially in the technology sector, writes Pearce Doorley.
Regardless of your business, it is important to find the right sales strategy to build relationships with new prospects or manage existing ones. These can be internal sales, sales force sales, or a combination of both. Identifying the distribution channels that best fit your business is a similar process to identifying the ideal candidates for a role. When looking for candidates for a role, we look at the different factors in that role and compare them to candidates who meet all the key criteria.
When defining your sales needs, consider the key factors of your business:
The nature of your product can make it a very short evaluation process. If you’re in an industry where you sell equipment, it can be difficult to sell your product without having to present it to a potential customer. On the other hand, digitally delivered services can be demonstrated, sold and provided through webinars or online demonstrations.
2. the customers
With technological advances eliminating many barriers to international sales, selling in Europe is a valuable growth opportunity for many companies. If your customers are located throughout Europe, it may not be possible to offer a personalized service or demonstration. Instead, we see that a large proportion of businesses sell online services through demonstrations in offices. These are mainly multinational companies, but there are more and more SMEs entering this market.
The way in which you gather your prospects has a major impact on how you execute your sales function. Many companies are developing online marketing strategies and websites that instruct users to use contact forms and turn them into qualified leads for internal sales teams. Therefore, companies of all sizes are developing their marketing services with a focus on digital skills. If you can create an effective digital marketing feature, those leads can help you both in the field and in sales functions.
4. The competition
It is also important to watch the competition. Even if you work in a predominantly digital environment, you may not be able to rely solely on internal sales if your competition is strongly represented in your market. It’s also worth mentioning how companies sell to your business and what makes them buy from you
The other factors in this list help you to define the ideal mix of your sales, but your budget can dictate the sales function that you can actually have. An essential factor for the growth of internal sales is the relatively profitable solution. Field sales usually cause overheads, such as B. allowances and travel expenses. Internal sales, however, are much more controlled in terms of time and costs.
6. Job market
After all, the available skills have a decisive influence on your ability to create this perfect sales function. The current trend of multinational technology companies to set up European sales offices in Ireland is contributing to the ever-increasing demand for internal sales candidates. As a result, more and more traditional field service candidates are moving towards the internal sales model.
An effective sales function is essential for the growth of every business. The challenge is not only to define the most effective sales methodology, but also to identify the ideal sales people to drive your business forward.