What Makes a Good Vendor-Buyer Relationship?
When starting any new relationship with the vendor, the buyer often assumes the onus in figuring out whether it’s a good match. The reality is that any good vendor-buyer relationship should be a team effort from the beginning.
Certain traits set the tone for a successful venture between a vendor and a buyer. If you want to give your collaboration the best chance of success, prioritize the following characteristics:
1. Great Service
Great customer service never goes out of style. For some companies, though, the term has become something of a commodity that gets tossed around without substance.
So, what should great service look like?
In some cases, it could be listening and learning before responding and reacting. It could be addressing needs promptly or going the extra mile to make the other party happy, even when it’s not in your own best interest.
The key isn’t to deliver service you think is great, but rather create a level of service that people you are serving will remember for all the right reasons.
2. Honesty in Collaboration
Every positive vendor-buyer relationship should be built on a foundation of honesty. It’s not just about providing transparent prices, but also setting the right expectations for service, problem-solving, and commitment.
This leaves no room for excuses or backtracking. Vendors and buyers alike should be mindful when communicating expectations and making promises to the other side.
3. Easy to Work With
Most people don’t have to think too hard of a time when a company was difficult to work with. Rigid policies, lack of accessibility, and other obstacles can severely stifle a relationship. And when one party wants out, the other side suffers, too.
The most successful vendor-buyer relationships are fluid and dynamic. They function like a well-oiled machine with little friction, if any.
Each side is easy to work with in terms of getting answers to questions, negotiating terms, and helping the other party achieve their goals.
4. Speed and Efficiency
Responsiveness is key in any relationship. Vendors and buyers alike prioritize speed and efficiency to ensure they don’t keep the other party waiting.
Each wants to make the relationship easier on the other. The shared goal is to keep business (and the relationship) moving forward.
5. Growth Oriented
The purpose of any vendor-buyer relationship is growth. It’s a mutually beneficial relationship that will ideally lead to higher revenue for both sides.
As a result, being growth-oriented should be a priority. This allows each side to explore new opportunities to expand their reach and strengthen the partnership.
How to Start a Strong Vendor-Buyer Relationship
There’s no doubt that product profitability is an important consideration when vetting vendors, but money isn’t the end-all factor.
A successful vendor-buyer relationship should ultimately benefit both parties. When both sides can walk away winners, you’re more likely to build on each other’s successes and contributions.
At Argires Snacks, we take our vendor-buyer relationships very seriously and have staked our success on that of our partnerships. Reach out to learn more about what we can bring to your business.
