Without a channel manager, hotels must manually rework inventory and availability on each channel – a tiresome, time-consuming procedure that often develops inconsistencies across channels.
A channel manager hotel also empowers hotels with greater control over the channel mix. Revenue managers can establish precise targets on a channel-by-channel basis, and then modify inventory and pricing on individual channels to optimize earnings. By taking up this dynamic strategy, revenue managers can more specifically handle a hotel’s allotment and prioritize the most promising channels at any given moment.
Currently, only about 50% of hotels worldwide utilize devoted channel managers to help them automate, control, and optimize online allotment.
What Are Channel Managers?
Channel managers design, assist, and expand connections with channel associates. The function includes tasks like designing sales strategies, bargaining with partners, and training and evolving their sales units. Channel partners are usually middle-management. They generally notify the Vice President of channel sales. They can be hired in any sector that accords with business-to-business deals.
The obligations and duties that you will accomplish within this degree include attaining the monthly sales quota for the respective domain that you are assigned and constantly coaching the sales team on company offerings.
Furthermore, handling connections with channel partners, observing sales and operational results established based on KPIs, and portraying the company at industry trade shows, among others are some duties of a channel manager. Critical skills needed for the role are supervision, communication, administration, and time management.
Educational essentials enclose a bachelor’s degree in marketing, business, or a connected field. Although, a high school diploma or a GED may suffice along with appropriate proven employment background in sales or business expansion. The job, if equipped with the relevant skills, is highly rewarding.
What Are The Duties Of The Best Channel Manager Online?
Channel managers generally have a vast degree of duties, which can comprise-
- Designing and executing marketing strategies for each channel, including developing content, designing promotions, and determining target audiences
- Monitoring competitors’ offerings to understand how they might impact industry performance
- Checking the competitor’s pricing tactics to verify that costs are competitive within the market
- Operating with vendors to ensure that products are supplied on time and satisfy the quality criteria
- Generating and executing fresh schedules to drive sales within a channel or across multiple channels
- Forming connections with critical people at retail sites or different distribution channels to boost the company’s products or services
- Supervising the day-to-day functions of a channel, including handling inventory status, communicating with vendors, and delivering consumer assistance to customers
- Determining new possibilities within a channel that can help in expanding sales through existing customers or assist in attracting fresh customers to the company’s products or services
- Strengthening connections with existing customers to ensure that they are satisfied with the products and services delivered by the company
What Are The Skills Required To Be A Channel Manager Skills
A channel manager must be equipped with the following skills to be successful in his career –
Communication skills are very critical for channel managers, as they are the immediate point of contact for their team and the clients. They must be capable of communicating effectively in both written and oral forms.
Channel managers must have good speaking skills as they have to communicate with their team members and clients from other departments. They must be able to comprehend and describe technological knowledge to non-technical workers.
As a channel manager, you are responsible for guiding the team of sales representatives. Leadership skills are a necessity as they help you in motivating your team and encouraging them to perform better. Leadership skills come in handy when you need to manage your team, including delegation of tasks, providing feedback, and assessing their performance.
Marketing skills help you in developing influential and effective approaches for promoting the products and services of the company. As a channel manager, you are responsible for creating marketing trends and campaigns to boost sales.
This can include creating advertisements, studying the data to decide what strategies are most efficacious, and assessing the success of your marketing actions.
Strategic planning is the capability to build a plan for tomorrow. Channel managers employ strategic planning skills to set goals for their team, create actionable plans to fulfill those goals, and assess the success of their strategies.
Strategic planning is an important skill for channel managers because it entitles them to develop a plan for their team that can help them evolve and enhance their work.
As a channel manager, you need to make judgments about how to allocate the resources in the best possible way. You may need to determine which products to advertise, which customers to target, and how to effectively communicate with your team.
Channel managers need to be able to make sound judgments that help their company thrive in the competition.
What Salary Can Be Expected Of A Channel Manager Hotel Profession?
The average hourly salary is $45.74, which amounts to $95,140 annually. The profession is expected to grow soon, generate more opportunities and employ skilled people, especially in the United States.
Channel Manager Trends
Three major trends are influencing the work of channel managers. The managers need to be up-to-date with these developments.
- Integrated Approach to Marketing
The marketing industry has evolved and marketers have started understanding the need for an integrated marketing approach. This means that the channel managers must be able to work across different channels so that a cohesive message is established about the brand.
- Digital Marketing
Digital marketing means employing online tools and platforms to reach customers. It includes areas like social media marketing, search engine optimization, and email marketing.
Channel managers who are experienced in digital marketing will be able to use these tools to contact customers and drive sales.
- Customer Experience
Customer experience is a very important concern for customers before they go back to a particular place. As a result, channel managers have to work in such a way that the customers have a positive experience with the company.
A channel manager can be very useful for the business and can help your business thrive if used in the right manner.