Reading, UK – 12 June, 2017 – Independent research recently conducted on behalf of Zyme, the market leader in the rapidly growing discipline of channel data management (CDM), has highlighted that 80% of consumer electronics manufacturers believe they have lost commercial opportunities because of limitations in their ability to collect and analyse channel data. Of equal concern is that 43% said they have shared data with the board in which they are not completely confident.
The reason this raises cause for concern is because, according to the ‘Channel Data Management Barometer 2017’ report, 52% of these manufacturers are completely reliant on indirect channel partners to provide data about customer demand, new sales opportunities and where marketing funds need to be reallocated in order to support partner success.
88% also admitted that their channel data collection and analysis processes vary widely; depending on the partner. Effectively ‘one step removed’ from the customer, the ability of manufacturers to collect, collate and analyse business critical customer data – and devise effective strategies for manufacturing, marketing and logistics – is directly impacted by how different channel partners provide information.
“This lack of channel data control is somewhat leaving these businesses exposed with regards to what is happening in the market from both a sales and inventory perspective,” said Nick Andrews, GM for EMEA and India at Zyme. “There are substantial benefits to be gained if companies can increase data sharing. Building solid business partnerships based on trust is just one notable one.”
The positive element is that 96% of the respondents consider such sharing of near real-time channel data to be important, whilst 78% want to understand more about their channel partners in order to respond quickly and effectively to wider consumer trends, the effectiveness of specific campaigns and also to forecast risks.
“Establishing best practices and agreeing a common reporting vocabulary will not only increase data accuracy but aid operational efficiencies,” continued Andrews. “Input from partners, when creating and designing incentive programmes, is invaluable and will vastly improve overall buy-in to the campaigns created. Being able to then measure partner satisfaction will also contribute greatly to quarterly reviews and setting ongoing performance objectives and goals.”