Multinational companies (MNCs) have an important role to play when it comes to harnessing global trade. These companies comprise of headquarters and foreign subsidiaries, the latter tasked with the main responsibility of managing local channel partners. Even though these arrangements tend to be both resource-intensive and common, most are poorly managed. So how can multinationals channel marketing more successful? If you cannot answer this question easily, then you’ve come to the right place. Read on to find out more.
Channel Partner Link
Even though it might come as surprise, emerging-market multinational companies also face distinct challenges. In fact, you’ll find MNCs that seem to be competing on a low-cost basis. For them to grow, it’s mandatory that they look internally and leverage an efficiency strategy for reducing manufacturing costs.
To pull this off successfully, they should channel partner link. What this simply means is they ought to commit their marketing resources to foreign channel partners thus developing a strong presence in the downstream market. Keep in mind the brand of an MNC in Singapore can remain vulnerable in some countries and continents if they don’t have a strong resonance with local consumers and channel partners.
Holistic Business Approach
Examining most emerging-market MNCs, you’ll notice they exhibit traditional business approaches. Furthermore, some are not ready to adopt practices that are effective in the developed world. What they fail to realize is that this decision might end up costing them in the long run.
To prevent this from happening, MNCs should consider taking a holistic approach to channel management. This action goes a long way in making sure they figure out areas that need further research. Better, marketers can factor in the essence of MNC relational interplays when moving downstream from headquarters to the channel.
The Bottom Line
It is with no denying that multinational companies operate in a world of global competition not forgetting regular corporate tie-ups. For this reason, aligning all parties to build market share and drive revenues up in new locations may not break or make an MNC’s year. However, it can end up making or breaking the future of a firm.
Hopefully, the aforementioned tips will come in handy in your quest of making multinational channel marketing more successful. Be sure to leverage the internet when having doubts in mind if you’re to find answers to all your questions.
Olivia Wilson has helped several global brands, which get heard across the digital space, through result driven content & social media marketing efforts. Studying blockchains and cryptocurrencies makes her hopeful of a free and decentralized future.