Developing Multichannel Strategy

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Developing Multi-Channel Strategy
Dr Stan Maklan and Dr Hugh Wilson

Cranfield Customer Management Forum in collaboration with IBM Business Consulting Services

Contents A strategic approach to channels ......................................................... 1 Process overview..................................................................................... 2 Step 1 Identify problems and opportunities............................................ 4 Cost reduction..................................................................................................................................4 Improved customer experience ......................................................................................................4 Improved access ..............................................................................................................................5

Steps 2 and 3 Current and future state analysis ................................ 6 Define the marketing context ..........................................................................................................6 Sales complexity matrix ..................................................................................................................7 Product coverage map – current and future state ........................................................................8 Building alternate channel chains ................................................................................................10

Step 4 Assess alternatives and choose................................................ 13 Channel curves – how customers value alternatives .................................................................13 Cost analysis ..................................................................................................................................14 Prioritisation matrix .......................................................................................................................15

Step 5 Implementation......................................................................... 18 Metrics.............................................................................................................................................18 Testing new channel chains..........................................................................................................19 Customer research cannot predict outcomes .........................................................................19 Experimental design helps......................................................................................................19 Roll out............................................................................................................................................20 People must support new ways of working.............................................................................20 Management, not technology, guides channel innovation ......................................................21

Summary comments ............................................................................ 23 Step 1: Identify the nature of the problem or opportunity ........................................................23 Step 2: Conduct a current state analysis ................................................................................23 Step 3: Create a future state Product Coverage Map .............................................................23 Step 4: Evaluate potential new channel chains ......................................................................23 Step 5: Pilot priority new channel chains and roll out successful pilots. ....................................23

Appendix 1 Directional policy matrix ............................................... 24

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Cranfield Customer Management Forum in collaboration with IBM Business Consulting Services

Figures
Figure 1: Process Overview...
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