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How To Build Quality Relationships With Vendors And Lower Costs |
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Written by Stu McLaren
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Saturday, 30 August 2008 07:31 |
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A select group of people, known as vendors and fulfillment companies, are crucial in taking your products from concept to cash. You will come across a wide range on vendors - graphic designers, web programmers, CD duplications, fulfillment houses - all of which will affect your business. If this group of individuals can affect how your business is run you want to build quality relationships with them. This article will outline a few tips on how to do just that, while lowering your fulfillment costs!
by StuMcLaren
A select group of people, known as vendors and fulfillment companies, are crucial in taking your products from concept to cash. You will come across a wide range on vendors - graphic designers, web programmers, CD duplications, fulfillment houses - all of which will affect your business. If this group of individuals can affect how your business is run you want to build quality relationships with them. This article will outline a few tips on how to do just that, while lowering your fulfillment costs!
Number one, what you could do is send them referrals and recommendations. I constantly, as much as possible, try to send the people that I work with more and more business. The reason is because I want them to see the value of the relationship with me goes much further than the business I personally do with them. That way the relationship is not only benefiting them with the business that I give them, but the business that I also bring through the people that I associate with. They'll quickly see me in a favorable light. The key here is to try and provide them a benefit as quickly as possible - a great way is to send as many referrals as you can.
I've also done joint venture projects with my vendors. Here's a quick scenario. One of the people that I was working with was a graphic designer. We decided to do a joint venture project together, where she would do the graphic design at no cost, I would provide the product and then put for the marketing effort, and together we would split the profits.
Just like that I saved myself a ton of money! The costs for a graphic designer were gone and when I was first starting out I used this strategy a lot because I simply didn't have the money to put down for elements like that.
I'm sure some of you are thinking, "Good plan, except your only going to make half of what you could have made." Just stop and think about it. I take the standpoint that it is much better to get your projects actually completed and make some money instead of not getting anything completed and make no money.
If I didn't create that type of relationship with this specific vendor, I would never have completed those projects and would therefore wouldn't have made any money. Those ideas would have been sitting up on a shelf, not making me anything.
When you are on a tight marketing budget, you've got to get creative. And that is one creative idea that I've used. I've also used that with web developers.
Another tip to save money that I have learned over the course of using vendors is to have as much work done ahead of time. By doing this you are cutting down on the time and effort your vendor needs to use on your project. You can even ask your vendor questions, like, how could you decrease they're effort, reduce your overall costs, etc. Vendors will answer these for you, they want to work with you. Everyone has a budget to work within and vendors will be willing to help you stay within it, they are always interested in your business and will help you meet your goals.
Another idea is to create a template versus a one-off project, so that you can use it over and over again without incurring more costs each time. Let me explain that in a little detail.
We will use developing e-Books for example. Instead of getting a graphic designer to design a specific layout for each of your e-Books you generate, it would be a lot easier and cheaper for you to get them to design a template. That way you can use that template for every e-Book you generate after that point instead of paying for it again.
This is a different way about going things - the thing is you will save tons of money - thousands - in the long-run. As for the graphic designer its about the same amount of effort for them to put forth. This is just another idea about how you can again build your relationships with your vendors, but also save a lot of money.
As you can see, these are just a few quick examples on how to both cut costs and build strong long lasting relationships with vendors and fulfillment companies. Once you start thinking outside of the box, many more strategies will come to you.
By exploring your creativity ideas will come to you when you need them the most!
About the Author:
Would you like all your online marketing questions answered by someone who has been behind the scenes for some of the biggest marketers online today? On top of written and video responses you also get frequent live help. Just ask for small business support! |
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