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In business, the Pareto Principle, also known as the 80/20 rule states that generally, 80% of your sales come from the top 20% of your customers. In fact, in the modern channel world, the spread is closer to 90/10, that is, 90% of vendors’ sales are constituted by 10% of their partners. There’s an abundance of partners in the marketplace, and vendors don’t always have the time or resources to seek out the right ones to proactively invest in. So it’s not surprising that vendors take the path of least resistance, favouring the 10-20% when deciding where to spend their channel marketing investments. In this environment, partners can...

As the world has changed, there’s no doubt that the way you are engaging with your channel partners has too.  Forbes.com has reported a growth of 1,000% globally for virtual events since the Coronavirus outbreak. So achieving an 87% attendance rate off a large registered base of hundreds of customers compared to the industry standard of 43% would make any Marketing Manager smile.  So how did Westcon-Comstor NZ achieve this result for their recent Imagine 2020 Virtual Event? Firstly, the decision to move their Imagine event (which is a staple in the New Zealand IT industry for the last decade) to a virtual event due to Covid-19...

The phrase “Cash is king!” has been repeated enough in modern vernacular that it could qualify as a cliché. To many vendors dislike, channel partners continue to opt for cash as their most desired reward. There is a lot of Emotional Psychology research that supports their concerns, suggesting tangible alternatives create more long term satisfaction in comparison to cash. For example if presented with a simple choice — cash or a tangible reward — without regard for emotion, the practical nature of cash is seen as a “wise” or “responsible,” if less-satisfying, choice, probably due to necessity. Whilst the research makes logical...

As travel is increasingly limited and more communities practice social distancing; organisations worldwide are rethinking their events, both internal and external. With many events opting for virtual events, the next question we are hearing is ‘how can I keep the engagement and attendance up’? At Hachiko, we are helping clients repurpose their venue and catering budgets into a rewards and incentive program to stimulate online engagement through live attendance. Learn ways on how you can leverage technology to drive engagement and use simple online interactive tools to engage our audience. ...