The fundamentals of marketing and marketing practices are not subject of this opinion. The purpose is to ask the most appropriate questions when selecting or weighing the decision to move forward with particular company and its respective strategic vision.
Lets start by looking at some general concepts such as reputation and track record. In terms of reputation, any chosen vendor has to be checked in order to establish a base line of existing industry or general reputation. There are certainly exceptions in which reputation may not be of great concern due to the company age or other similar factors. Similarly, the same considerations apply to track record.
Yet, once the vendor has been chosen and its strategy successfully implemented, new factors take priority. The first and most important factor is the evaluation of success. Once internal or external evaluation of such vendor has proven to be successful, it is important to shift and increase the value of their expertise. At first, this may sound too logical to mention, however, many reasons including internal power struggle as well as deficiencies in expertise may impact direct or indirectly the outcome of internal decision making. Hence, it is advisable to establish SOP which would directly reward the entities that have positively and measurably contributed to the successful outcome.
Such SOP may create a substantially more positive relationship between service provider and the client which ultimately may contribute to greater bottom line. On the hand, the lack of such procedures may create unquantifiable harm in terms of loyalty, output quality and quantity, competitive edge, as well as overall profitability.
In the coming days and weeks we will outline several different time tested procedures that potentially eliminate such negative impact.
Brought to you by: