Channels in business model canvas refer to the way in which businesses reach and communicate with their target market. They are the means through which businesses deliver their product or service to customers.
There are a variety of channels that businesses can utilise depending on their industry and target market. Some common examples include online channels (such as websites and social media), offline channels (such as brick-and-mortar stores) and direct sales channel.
The selection of appropriate channels is a key part of any business’s marketing strategy. The chosen channels will have a direct impact on the success or failure of the business.
For example, if a business sells products that are targeted at young adults, then utilising an online channel such as Instagram or TikTok would be more effective than using an offline channel such as print advertisements. Channels help businesses to determine how they will reach and communicate with their target market. Selecting the right channels can be make-or-break for businesses.
It is therefore essential that businesses spend time researching which channels are most appropriate for them before making any decisions.