Diversifying your sales channels can increase your revenue

Increasingly tech-savvy, consumers are no longer limited to a single path when searching for products or services. They want a variety of options presented in a practical and agile way.

Therefore, companies must utilize a variety of communication alternatives to reach customers and expand their sales and brand reach. In other words, they must become multichannel.

Multichannel marketing handles multiple sales and marketing tools simultaneously. Entrepreneurs can work in media outlets such as social media and e-commerce, in addition to creating strategies in physical stores with the intention of expanding the spectrum of customers, considering contemporary diversity.

Types of channels

The channels used for the relationship between company and consumer can be traditional or digital. Among the traditional ones are:

• Physical stores – one of the most traditional retail sales channels, requires specific marketing strategies to reach the public.
• Franchises – When a company is successful, it repeats its sales and distribution strategies in new locations, maintaining its characteristics.
• Telesales – A call center is created to stimulate sales. The target audience is people who don't use more advanced technology, such as the internet.
• Network of consultants – offers a personalized and intimate type of sale.

Business-related digital channels reach an even wider and geographically distant audience. These include:

• F-commerce (Facebook Commerce) – the social network is useful when it comes to bringing together a brand's consumers and also measuring their profile and needs.
• E-commerce (Electronic Commerce) – works like a virtual store where products are presented and sales are made online.
• M-commerce (Mobile Commerce) – these are smartphone applications that serve as an option for learning about and purchasing products and services.
• E-marketplace (Online Shopping Center) – this is a channel that brings together products from different companies.

Channel definition

The choice of channels varies according to the target audience and the company's demands. It's essential to research products that can be offered online, based on their sales potential and reach.

Additionally, you need to think about inventory, distribution methods, and how to manage your business's communication.

If a company wants to brand digital presence, but considers that not all of its products are suitable for this type of business, and it can make only part of its catalog available online and the remaining products only offered in the physical store.

Also consider product delivery. Look for partnerships with companies that offer competitive prices and efficient service, and only offer products online that can be guaranteed for delivery.

Avoid having one channel compete with the other. Even if the physical store and the online store offer different merchandise, they should be consistent. After all, customers will identify the company by its brand, not its chosen channel.

Source: Sebrae