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

One of the primary benefits of effective channel management is the ability to reach a wider audience. By leveraging different distribution channels such as wholesalers, retailers, online platforms, and direct sales, businesses can expand their market reach and access new customer segments. This enables companies to capitalize on various market opportunities and diversify their revenue streams.

Moreover, channel management helps businesses improve their customer service and enhance the overall customer experience. By working closely with channel partners, companies can ensure that their products are marketed and sold in line with their brand values and quality standards. This alignment creates consistency and fosters customer trust, ultimately leading to repeat purchases and long-term customer loyalty.

Another key advantage of channel management is that it allows companies to optimize their pricing and promotions strategies. By collaborating with channel partners to set competitive prices, businesses can attract price-conscious customers while maximizing profitability. Additionally, working with channel partners to implement targeted promotions and marketing campaigns can help drive sales and increase brand awareness.

Furthermore, effective channel management enables companies to better control their distribution network and prevent channel conflict. By establishing clear expectations and guidelines for channel partners, businesses can minimize disputes and ensure that all parties are aligned towards common goals. This helps maintain a harmonious business relationship and promotes mutual success.

In today’s competitive business landscape, channel management plays a critical role in driving business growth and profitability. As consumer behaviors and market dynamics continue to evolve, businesses must adapt their channel strategies to stay relevant and competitive. By regularly monitoring and optimizing their channel management practices, companies can stay ahead of the curve and capitalize on emerging opportunities.

Overall, channel management is an indispensable tool for businesses looking to scale and thrive in a dynamic marketplace. By proactively managing their distribution channels, companies can unlock new growth opportunities, strengthen customer relationships, and drive sustainable business success. In essence, effective channel management is not just useful—it is essential for navigating today’s complex business environment and achieving long-term growth.

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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