You’ve identified a prospective group of vendors or suppliers that could present great growth opportunities for your business. Yet, you are struggling with how to engage them in a manner that will yield the needed buy-in and results you desire. Vendor engagement can make or break future partnerships and keep your business in a place of stagnation, if not conducted with attainable intentions and goals.
There are four main “partner” groups that vendors and suppliers will fall within. Adequately, organizing your prospective partners in the correct group will allow the development of successful and purposefully engagement campaigns.
Two groups that present a strategic value to your company are Aligned and Transactional Partners. Additionally, if you are seeking growth potential, then Transactional and Supplementary Partners will be of most benefit. However, your mix of prospective vendors may present benefits in both areas on various spectrums.
To begin the process of strategically aligning your vendors and identifying the proper type of engagement, to benefit the future growth of your company, contact Lengo and let us help you focus your vision!