If you are new to channel management, and not sure what channel management is? what it does? No worries we are here to provide you the complete details(beginner’s guide to channel management).
Also, Click Here to read the interesting article which explains ABCD(Always be closing deals) of the channel management.
What is Channel in Channel Management?
A channel is one of the multiple circulating paths within a single link between network points.
What is Channel Management?
It is the process of managing online distribution channels in order to sell hotel inventory to various agents across the globe. Channel Management allows you to partner with large agents such as OTAs and also with smaller retail agents in different markets.
Why is Channel Management important?
As we are in a digital generation, people find convenient to shop online. Therefore, sales through the internet is very important. Customers explore on different channels and compare before they decide. As a result, it is mainly used to reach the widest possible customer base.
5 steps of Channel Management:
- Analyze the buyer.
- Establish the channel objectives(it’s nothing but planning; they are based on the purchasers and users).
- Specify distribution tasks(Functions to be performed in the channel system).
- Analyse and select among channel alternatives(A product or group of product physically transferred from their point of production to the point at which they are made available to the final customer). Alternative channel: B2B and B2C companies can sell through a single distribution channel or through multiple channels which includes: Wholesaler/Distributor, Direct/Internet, Direct/Catalog.
- Analysing Channel member performance.
What is Channel Manager?
It’s a tool which keeps track of your availability and rates. Rooms can be sold across all your direct and indirect OTA channels.