From Vendor to Partner: The Key to Building Long-Term Relationships

by Marketopia | Aug 1, 2019

Vendors come and go. Companies buy from vendors who offer the best price and the best products and can easily switch from vendor to vendor as their needs change.

Partners stick around. Companies rely on partners for advice and stay loyal to their products for years, even as prices rise.

Which one would you rather be? Building long-term partnerships requires more than offering a great product – you need to be an invaluable resource. When you help businesses succeed through sales and marketing support, you dramatically increase your chances of gaining a customer for life.

Why? Because most MSPs, VARs and other technology services struggle with sales and marketing. In fact, 94 percent of MSPs and VARs cite lead generation as their top business issue. Your customers may already believe in your product but need help to sell it. Don’t assume that they’ll come to you – many business owners are reluctant to ask for help with their sales, so you need to be proactive in offering assistance.

Here are five ways to build long-term partnerships by helping your customers earn more profit:

Sales Kits

Uploading a few product sheets into a portal will teach customers about your product, but it won’t help them sell. A comprehensive sales kit should include polished sell sheets that list features, benefits and other relevant information, like testimonials from satisfied users. You can also include templated emails, website pages, social media posts and more for clients to stamp with their own branding and leverage for lead generation.

Training & Events

When you launch a new or improved product, are your partners the first to know? When salespeople are armed with knowledge, they’ll pitch your product more confidently and close more deals. Online or in-person training sessions should be available for all of your major products and services. Teach your partners how the product or service works and how to highlight the benefits for maximum results.

Sales Representatives

Companies with small or inexperienced sales teams – or companies whose CEO handles sales personally – are more likely to struggle with carrying a sale over the finish line. As a vendor, you can assign sales representatives to coach them through the sales process and increase the likelihood of a successful close. Whether you’re heavily involved or simply acting as an advisor, your customers should comfortable coming to you for advice on next steps.

Incentives

If you want your partners to sell your product in a particular way, use incentives to steer them in that direction. Wherever you want your partners to focus, put your money there. Do you need to boost awareness about a new service? Offer a free month trial. Looking to grow sales for a less-popular product? Host a competition between your partners and give the winner a free dinner, gift certificate or other financial reward (plus bragging rights).

Bundles

A partner doesn’t succeed by selling your products alone. Enabling your partners to sell a broad range of products and services allows your sales to naturally increase. Broaden the scope of your collateral and sales assistance to help businesses acquire new clients or sell profitable bundles. For instance, if you can help your partner close the deal with a new client for managed services, your products can be included with others for a comprehensive package.

If you can help your partners not only sell your product but grow their sales and marketing capabilities across the board, you’ll gain their loyalty and retain their business. Marketopia offers collateral that will help your customers boost their sales and build a relationship with your brand. Contact us today to get started.