However you support your local marketing channels, make sure you don't lose sight of something very valuable – data. This data can range from participation and activity levels of channel involvement to the response rate of marketing assets across mediums. So what do you do with all of this valuable data?
Build Relationships Sixty three percent of today’s companies consider their business strategy “extremely customer driven.” And with your new data, you can put that important customer information to good use. In a previous post, we explained the difference between independent and dependent sales channels. In independent sales channels, customer data is owned by the channel. In dependent sales channels, you own the data while exposing it to the field. In either scenario, there are important data points you should be sure to capture.
Revise Your Marketing Strategy Based on these data points, make sure you are building your local marketing strategy around the types of information you wish to analyze. For example, what type of marketing mediums did your local networks focus on for this campaign? Was there a way for you to track the response? How do you marry up the response with sales data? The data gathered can help determine the best way to ensure successful support of your sales channel, or what areas to focus on less.
Combine Data Points for Deeper Analytics Remember that data points can come from different systems, places, etc. Think about how to join different areas together, or find a system that will, so that you can be as informed as possible in making your decisions.
About the Author
Jared is the Founder and Managing Partner of SproutLoud. Since 2005, he has been primarily responsible for strategic direction of the Company, as well as the oversight of SproutLoud's Partner ecosystem. Prior to SproutLoud, Jared worked in Thomas Weisel Partner’s internet and online advertising investment banking practice in San Francisco. He served as the lead analyst on a number of Corporate Finance and M&A deals including Newscorps’ buyout of Intermix Media (Myspace.com). Jared graduated with a B.A. in Finance and Marketing from the McIntire School of Commerce at the University of Virginia. Jared has an MBA from the Kellogg School of Management at Northwestern University and is a member of the Young President's Organization (YPO). Jared has been honored as one of the Top 40 under 40 entrepreneurs by South Florida Business Journal and a Top 50 Entrepreneur by Business Leader Magazine. Jared lives in South Florida with his wife and two sons.More Content by Jared Shusterman