As a vendor it’s important to remember it takes two to tango, so make sure you’re doing everything necessary to keep the relationship healthy.
1. Revenue flow is important
It’s natural that a partner will have peaks and troughs in performance. However, if a partner is struggling, they shouldn’t be left to feel like they are on their own. To bring a strong stream of sales through, the vendor should offer guidance, advice and technical support from deal registration to completion.
Joint activities such as regular events and joint marketing campaigns are a great way to ensure you’re in regular contact. Incentives will also make the most of your partner’s enthusiasm, increase sales and stop partners feeling lonely.
2. Keep the relationship fresh
Have new tricks up your sleeve. Surprise your partners, explore new ideas and excite your customers together. Always deliver on promises and never disappoint. Honesty is vital and helps to manage everyone’s expectations.
These days’ customers have all the branded USB sticks they could ever need, so vendors need to make sure they’re doing something different to stand out from the crowd. Partners also get bombarded with average sounding partner programmes everyday. It’s time to do something unusual. Vendors and partners that work well as a team have an infectious chemistry. So start by thinking outside of the box. All customers will want to be part of that.
3. Make sure they are devoted and loyal to you
Stop a partner from straying by taking time to understand their needs. Getting to know your partner will demonstrate your commitment to them. In time they will reciprocate. If you have a thorough knowledge of the way they work and their business ambitions, you’ll be able to make sure that your partner programme matches their needs.
The relationship has to be more than just 'friends with benefits' - if a vendor is truly aligned to their partner’s business, that partner won't be tempted to stray.
4. Invest time in talking
Vendors need to listen to their partners. It’s important to get each other’s perspective on the latest industry trends and what’s important to customers. That way partners and vendors can work closely and capture business together.
If the relationship isn't going well, it's worth going back to basics. Schedule time to have an honest discussion about what’s important to you both. Work out where it all went wrong and talk to each other about how to turn things around. Reigniting the fire will bring benefits for everyone.
Valentine’s Day comes around every year on February 14. However, treating your partners well all year round is key to keeping them happy.
