How do you select your outsourced marketing vendor?
Every organization, at some point, outsources part of their B2B sales or marketing activities. Sometimes it's just for a specific deliverable. Other times, it's for a more sustained engagement such as lead generation, web design, inbound marketing, etc. For those of us who have been there, the selection of the vendor can rest on many variables. Are they the cheapest? Are they local? Were they referred by a peer whom I trust? Do they have the skills? Do I trust them? Can I work with them?
In my experience, it's the last two questions that are the most relevant: do I trust them, and can I work with them.
Let's be honest with one another. We're always going to want, and negotiate for, the best price and the fastest delivery. Most of us don't mind paying a small premium for good service. After all, we're all business people and we understand nothing is free. The best phrase a vendor ever shared with me was " Your options are you can have it good, fast, or cheap. Pick two!" I think that sums up nicely the tradeoffs that always come with working with vendors. That being said, most marketers are constantly having their budget, and their effectiveness, scrutinized. As a result, you want to make the right vendor selection.
With that said, let's assume you'll negotiate for a reasonable price with a reasonable delivery. If the vendor can't do that then they clearly don't want your business.
So what does that leave to influence your vendor selection? Ah yes - the peer referral or the vendor location. Let's start with peer referrals. I love referrals. Most of my friends, professional and personal, understand my idiosyncracies. They appreciate that I have high expectations and that I don't always have patience. They value my single-minded focus on lead generation and measurable results. As such, when they refer me to someone, I can usually assume they believe the vendor's approach and personality will match my own. In turn, I can assume they've done work together and my peer truly has experienced great things from this vendor. My peer's very integrity rests on the results this vendor will deliver to me. I may be somewhat overstating it, but not by much. This is why word-of-mouth remains the most powerful lead generation tactic today; because we trust our peers.
But should a referral be your number one influencer in your decision making process?
Finally, the last thing to consider is location. Is the vendor local? Are they on the same time zone? Do they speak the same language? In the age we live in, telecommuting is the norm and long-distance project teams are typical. With that said, nothing beats a face-to-face meeting between client and vendor. It's one thing for me to say something to my vendor, but it's another thing for them to see my body language. It takes the relationship to the next level. It creates alignment.
So is location a prominent influencer on your vendor selection?
Alright - let me cut to the chase. I'll tell you what I've learned to be true. I've learned price is critical. I've learned integrity is paramount. I've learned referrals are a good way to short-list vendors. And I've learned to never sacrifice success to save a few bucks on my vendor.
But most of all, I've learned that my vendor selection comes down to trust and relationships. Do I trust this vendor? Can I work with this vendor? Does my gut tell me that I'll be successful with this vendor? Do I believe this vendor is earnest and engaged? Do they understand me and my requirements? Can I be brutally honest with them? And will I be okay if they are brutally honest with me?
The truth is that every sale starts and ends with trust and relationship. Look at your own sales cycles and you'll see these issues often play the largest role in why your customers choose you or your products or services. Everything else is important, but secondary.
So. Do you agree? Go ahead. Be brutally honest with me.