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selling a great solution to a willing Market through the wrong channel is almost always going to generate really disappointing results Funnel Vision is brought to you by math marketing creators of the funnel plan math marketing is the source of the 123 of B2B marketers particular consumer marketers often use the term channel to mean a tactic web as a Channel radio as a Channel TV as a channel Channel salespeople and most B2B marketers use the term channel to mean the sales Channel directly indirectly what type of indirect Etc so now that we're on the concept of sales Channel what kind of Channel partner strategy is going to work best for your business and how do we make that decision stick around on today's video I'm going to answer that question I'm going to do it in 60 seconds and apparently I'm going to do it in four steps because that's what it said at the headline so four steps 60 seconds how to set channel part strategy if you stick around to the end of that I'll also share with you a tool tip and I'll show you how we do it in funnel plan well what kind of channel do I need what type of channel will serve me best that's completely the wrong question we think too much about ourselves think instead about the buyer what kind of sales channel does the buyer most want to buy through that's the most important question so think about the buyer any any buyer who's very very new to a category there's a new kind of category like tablet Computing was four years ago let's say back then they would say gee that's a really interesting idea I wonder how I can use it what kind of channel would serve that buyer Best well it's an Innovative idea and so they need to deal with the innovator to the fullest extent that they can and so the really early adopters want to get as close to the point of innovation as they can now maybe the innovator is Apple back in the day or maybe the innovator is the channel who's using the tablet computer in a really interesting way but it's not a High Street reseller it's an Innovative seller as close to the point of innovation as you can get normally for most of us that means selling directly after that the buyers who haven't really bought from that early that first wave they were just waiting for a little bit of proof to emerge in fact I'm going to make reference here to Jeffrey Moore's Chasm Theory because that's obviously what I'm drawing from let's take a look at Chasm here we're talking about the early adopters here first and the early adopters are the Risk Takers they want to they're willing to pay a um take a risk because what they want is a high return now if that's the case the next group of buyers just aren't that willing to take a risk and so they need a little bit of proof the channel they want is the channel That most understands their space again we're not talking about High Street resellers at this point now after that if after we've earned multiple segments then whether you're going to buy it is no longer the question the question is from whom and that's the point where convenience really matters no longer do we need as the buyer do we need an industry specialist we just need the most convenient seller and so as we're ramping up the the the curve um now we want the convenient reseller and that's where we want the third party reseller who's most who's most convenient to us now Market starts to max out at the top what kind of buyer or what kind of buyer do we have there often we've got the infrastructure buyer meaning it's it it's Finance or its HR no longer then user Department what kind of channel do they want to buy from they want to buy from the one who can comply with their requirements the best and often that actually means in theory I want to buy from a reseller but in practice the larger customers are starting to insist that they buy again directly from the vendor so we got this a notion where in the beginning with the vendors sold directly then as the markets mature a little bit we're still selling directly then we're selling through a channel and then the vendor often has to sell themselves why when the Market's Peak because often the channel is losing interest and they're moving on to other topics now now the market starts to decline where are we at there what's the buyer looking for well frankly if you've run the race and won you're the gorilla in that market you get two choices if you haven't run the race in one you're probably exiting the market at this point or being bought out now if you have won the race and you're the gorilla in the market then probably we're actually looking for new users and New Uses well those new users and uses are like new buyers so once again they want to buy from the innovator whoever it is that's innovating whether that's you or a third party that's who they want to deal with they don't want to deal anymore with the convenient buyer it's now up to the innovator to sell directly in the main therefore we've gone direct indirect direct again and still direct at the end and that's the best Channel partner strategy let me tile that together in 60 seconds and four [Music] steps four steps and 60 seconds firstly get the order right think about your buyer first your self second and your channel third focus on the buyer secondly decide the channel strategy that the buyer most wants thirdly sweat the detail it's not just a question of direct or indirect what kind of direct what kind of indirect for example the early adopter wants to buy from the Innovative seller so don't put your plotter out into the into the field at this stage you want to be selling with a strategic frame of mind mind able to have new conversations with new buyers so it's the kind of buyer pardon me the kind of seller that the buyer most wants fourthly sell your vision for the channel partner strategy if you've worked out what the right answer is make sure that the rest of the business buys into that answer because if you're doing one thing and they're doing something else doesn't work that's it hope it helps for the tool tip this week I want to talk about a thing called optimizely now you may already know about the idea of AB testing basically it's remove all variables but one and then test two options an A and A B against each other and let the market tell you which one's the winner works for landing pages works for email copy works for lots of tactics I want to now apply this to web pages if your web page has a conversion task whether that conversion is a form fill or even just a click the next button whatever that conversion Target is for your web page use a tool we use optimizely use a tool for testing different variations what optimizely if you do it's really super clever is it takes control of a certain page so when any visitor goes to that page your website's been told ah for this page race off to op optimizely and see if they have any changes for us and then present either the a or the B and what you then do in optimizely as the marketer is you can Mark around with a page let me show you an example here of two pages in one we've removed all of the social proof that we thought to be so important and left a single call to action what do we find when we tested with social without social we got a four times higher conversion rate once we removed all the other Alternatives optimizely let you test hypotheses like that hope that helps if you enjoyed this Vlog then likely you will enjoy others if you you haven't already you can subscribe to receive this blog by visiting mathmarketing.com/blog or by visiting our YouTube channel if you have a colleague who may be interested we would be so grateful if you invited them to subscribe why don't you do that now and when you come back we'll show you how we do that in funnel plan as you know funnel plan is a great way to decide and then articulate your objectives your strategy your velocity and the tactics that marketing and sales are going to use together end to end to earn the right to serve new businesses we're talking today about Channel and I want to dive into two components one is the target market which so shapes the channel as I've just argued and the actual Channel itself now you can see on the chasm diagram here that tiny tiny print you won't be able to read it let me read it for you 20% of our Market is in early adopter mode and 80% is in b alley which is this first stage after the chasm in fact you can see those same numbers up here let me dive into the software and show you where that comes from and then finally how we get to this section the through whom or the channel starting with the buyer not the channel for the reasons I've already argued who are we selling to selling to this type of business and this role and we're giving them this amount of our love but here's the important thing how mature do we think that group of buyers will be as they go into the market in the early Market they're going well that's a really clever idea show me how that would work for my business in B alling bowling alley they're saying prove it show it to me okay very different buyer now we said that 20% of our Market is in early market and 80% is in Bowling Alley so let's take a look at the channel strategy we're going to build to reflect that two elements of channel strategy one is very simple and that's just the articulation of of the channel who are we going to sell to now take a look at what we've written here internal marketing profiles that's really just describing internal role then warms the prospect for for sales involvement direct Salesforce recruited for their understanding of innovative buyers and their trains to identify and extract needs and to bring a deal to the table think about that that's a that's a Visionary salesperson that's not an infrastructure salesperson the guy or girl that you would put on the job is selling to it or to finance or admin is different from the one that we're describing here because we've got an early market now there's also some discussion down the bottom here about how much Channel we use but I'm going to save that for another day because it's quite a detailed conversation about resource modeling um but it is part of your channel Choice first one for channel partner strategy though is to identify what type of buyer do my buyers want to buy from that starts with who are the buyers and then how mature are they hope that helps in next week's show I want to dive into the funnel process until then may your funn will be full and always [Music] flowing