Relationships are the invisible foundation of business. As a retailer, you spend a lot of time and resources on bettering your relationships with your customers. But, your customers are just one side of your business. It's easy to overlook the importance of nurturing good relationships with your vendors. Create a partnership of mutual success with your vendors, and you will find yourself in a better position as a retailer.
Open Communications with Your Vendor
All successful relationships involve open and honest communication; business relationships are no different. Treat your relationships with vendors like a partnership. Make a point of meeting or connecting with your account manager or sale rep once every few months. A good rapport establishes trust on both sides of the relationship. Let your vendors know when their service is bad or good and communicate your experiences and they will appreciate it. You are your vendor's customer and the service they provide matters to both of you. If you have a specific business requirement that needs to be accommodated, speak up and they will work with you to accommodate it. And never forget - you are the connection between the product creator and the customer which makes your sales information valuable. Share a customer product experience and share your sales, this will help you vendor improve their products. Remember your businesses rely on each other for mutual success.
Align your Internal Ordering Process
Both you and your vendors have specific operational requirements. Work together to align those internal elements to make your transactions more efficient. For example, your vendor might need you to order some products in advance so they can manufacture them on time. So you will work to accommodate that need as they provide you with convenient online ordering to help with your operational requirements. When it comes to shipping and terms of payment you need to be clear about what conditions you have for your business. If you have a specific way you need to be invoiced or freight company you prefer to use, let your vendor know. You need to hold up your end of the bargain as well, so yes - pay your vendors on time. Automating billing and inventory administration increases the efficiency of the ordering process. It's all about working together to meet a common goal of accuracy and efficiency.
OrderEase offers an efficient online ordering solution that benefits vendors and retailers. Learn more
Marketing Towards Mutual Success
Mutual success in the name of the game. When you don't’ sell products neither do your vendors, so it’s in everyone interest to work together. Your vendors want product to move, so many of them direct consumers to dealer websites or stores through their store locator. Make sure your store is listed on them, as this will send referrals directly to your business which benefits both of you. Don’t stop there, next up is asking to provide your vendor with content for their blog or newsletter. You are an expert in their products; you sell them to your customers after all. So you are a great candidate to provide some interesting insight into their products. You can write about how to merchandise their products or a how-to guide, then request them to backlink the post to your website. This will help you generate more traffic to your site and store. Don’t forget about engaging with your vendor through social media. It's simple and will help promote each other to various audiences. So follow them, like them and share their content and they will likely do the same for you.
Learn more about staying competitive this year
A good partnership is pretty straight forward when both sides are clear on expectations and requirements.The key takeaway here is open and frequent communication between you and your vendors. Once you have that mutually beneficial relationship it is easy to maintain. Here at OrderEase we are devoted to improving the partnership between vendors and their buyers. That's why we have created an online order solution that provides wholesale buyers and suppliers a better way to process orders, communicate, and share product information.