With the dawn of an age where technology evolves on a daily basis, and consumer awareness is high, with excessively particular and complex demands, vendors need to be aware of their needs and provide for them while still remaining cost-effective. TV networks need to test and monitor these vendors in order to ensure their success.
Analysis suggests that video test equipment (VTE) markets generated an estimated $298.3 million in 2010 with an expected increase to $359.4 million by 2015. Investments by network stations will be impacted, spurring the demand for VTE, by the escalating demand for digital television. Network stations can test and monitor vendors setting to ride the digital TV wave by offering them new products, like Dish Network and Smart TV, to judge how well they sell them.
Tools to Monitor Vendors:
Sales are one of the biggest identifying factors when determining the success or failure of any business. They are indicators of how popular a particular product/service is among consumers and can also be used to predict trends to try and figure out when the product will go out of demand. Networks can monitor their vendors by comparing sales between the different vendors they use themselves, and by analyzing how effective other vendors have been at selling their competitors’ products or services.
Market penetration is another indicator of how well a given business is performing. This is determined by analyzing a potential customer base, estimating the number of consumers who might use the product/service offered and then calculating the percentage of the consumers who are actually buying or using the product/service.
Networks can determine how effective a particular vendor has been with penetration by examining the target area of said vendor, and calculating the market penetration there. This can be helped by providing targeted services to groups of consumers, like the Dish Latino caters specifically to the Spanish speaking population of the Americas.
Feedback is a critical part of any relationship, especially when it’s between a business and its customers. Without comprehensive feedback, a business will be blind and won’t know how and/or when to improve its product(s)/service(s). Furthermore, networks need all the consumer feedback they can get to ensure their vendors are effective, and not losing any business through loss of customer satisfaction.
Tools to Test Vendors:
When huge businesses and organizations use outside vendors to sell their products, the advertisement and promotion of those products becomes a much more complex issue. A lot of the times, the business will handle the marketing side themselves. But it might be a good idea for TV networks to delegate that responsibility to their vendors on occasion to judge their qualities better by analyzing if the vendor can promote a given product or not.
Promotional campaigns are another example of effective tools that networks can use if they want to test a particular vendor’s expertise in the business. They provide a measure of the vendor’s knowledge about the consumer base, awareness of market conditions and the ability to organize widespread events. They can also test a vendor’s versatility by asking for a promotional campaign that targets a particular section of the consumers, for example the Latin American community with a product like Dish Latino.
Another important factor in evaluating a vendor’s performance is how easily accessible they are to customers. Even in today’s world, people like to divide up in communities with others from the same religion, ethnicity, language etc. and it is vital that the right areas be focused on by the vendors depending on the offered product’s popularity among certain groups.
Although the future is bright, hurdles remain on the way to digitalization. Many countries have facilitated the path forward, but there are no agreed upon timetables or deadlines for the transition. There is increased pressure on network stations and vendors alike to provide digital TV at reduced prices while still maintaining quality in design and flexibility that makes it a challenge to prove return on investment (ROI) for the vendors, yet network stations have to ensure this as the vendor’s success is their own success.
S.James has extensive knowledge on the subject, and a keen interest in spreading that knowledge through blogs and articles with subscriptions to services such as Dish Latino. The full range of Dish Latino channels are available over at LatinoSatelite.com.