Thursday, June 3, 2010

How Social Media Changed Channel Marketing and Partner Portals

Social media or otherwise known as Web 2.0 applications is now undeniably dominating the World Wide Web. Various industries that are dependent on channel marketing have to adapt their strategies to the dynamic environment created by the internet’s presence. The rate of change of technology is so fast that the rest of the world has to keep up with it. Traditional sales techniques, local sales territories and named accounts have to give way to virtual customer communities, small but frequent deals and other modernized changes in order to appeal to modern society’s culture and needs.

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In view of these changes, it seems that when it comes to channel marketing, a lot of new strategies are on their way up, while the old, more familiar ones are on their way down. For example, social media, partner virtual communities, wikis, RSS feeds, and social networking sites are replacing partner portals, lead generation and even classroom training. It wasn’t too long ago when end consumers search for products on the internet to look up information on certain items but still visit the actual store to purchase them. This is no longer the case as users look to blogs, forums, recommendations via social networks and buying products directly from web sites.

Social media has changed or affected all three levels of the channel marketing chain, that is, the vendors, channel and customers. Thus, the ever-popular partner portals have to undergo changes as well. First, Vendors can now use social media sites for brand distribution. It is no longer uncommon to see companies utilize Facebook and Twitter accounts to push products into the market. Second, the channel can use their blogs and social networking accounts to share additional services to end consumers. If these customers have questions regarding certain goods or services, they can immediately respond at no additional costs. And third, customers can get more sources of credible information through their expanded networks. They can also enjoy increased and efficiency of communication.

This is an inevitable development considering that technology will not stop evolving, bringing about changes in almost every familiar thing in society. It is up to us to keep up and ensure that we are well-prepared for them.

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