What is a Channel Strategy?
A channel strategy is a plan that outlines how an organization will use its available channels to reach its target customer base. It defines the channels to be used, the objectives to be achieved, and the tactics to be employed in order to meet these objectives. It is an important part of any business’s marketing strategy and should be tailored to the company’s unique situation and goals.
What's included in this Channel Strategy template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Channel Strategy template for?
The Channel Strategy template is for sales, marketing, and product teams of all sizes and industries. It provides a comprehensive framework to create a strategy that leverages channels to effectively reach and engage customers. It is designed to help teams identify objectives and measurable targets to achieve their desired outcomes.
1. Define clear examples of your focus areas
A focus area is a broad topic or area of interest that you wish to concentrate on as part of your channel strategy. Examples of focus areas could include increasing channel reach, increasing channel engagement, lead generation, or brand awareness. It is important to identify the focus areas of your channel strategy in order to effectively prioritize and implement your subsequent objectives.
2. Think about the objectives that could fall under that focus area
Objectives are the specific goals that you wish to achieve within each focus area. These objectives should be defined clearly, and should be specific and measurable. Examples of objectives could include increasing channel reach, increasing channel engagement, increasing lead conversion, or increasing brand loyalty.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are specific metrics that can be used to measure the success of a strategy. These KPIs should be tied to each objective, and should include initial and target values, as well as units of measurement. Examples of KPIs could include monthly website visitors, number of comments on social media posts, amount of leads generated, or number of brand mentions.
4. Implement related projects to achieve the KPIs
Projects, or actions, are the specific initiatives that need to be completed in order to achieve the KPIs. These projects should be tailored to the objectives, and should be clearly defined in order to ensure that the desired results are achieved. Examples of projects could include publishing articles on digital channels, increasing level of interaction on digital channels, promoting products and services on digital channels, or creating brand content to be shared on digital channels.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
The Cascade Strategy Execution Platform provides a comprehensive framework to help teams create and implement effective strategies. It provides an intuitive interface to define objectives, set measurable targets, and implement related projects. With Cascade, teams can track their progress and results in real-time, enabling them to quickly adapt and optimize their strategies for the best possible results.