Why is a good vendor partner so hard to find?
Brand leaders from McDonald’s to Neiman Marcus have told Alium interviewers they want “good partners.” They know good partners yield better long-term outcomes. But the vast majority of the time, they’re not getting the good partnership they’re looking for.
How do I know? Only 12.7% of vendors in our database have an average Alium Satisfaction Score of 8 or higher–indicating a good partnership.
So why is it so hard for brand leaders to find a good partner?
Good partnerships are built on things that are hard to assess in the vendor selection process. Most brands make the initial investment primarily based on product and price and hope for the best.
Sometimes, a mismatch reveals itself early enough. Dozens of brand leaders have told us that they have cut a vendor from an RFP based on bad sales processes or people. And a handful of folks have even cut a vendor based on a bad reputation. But the miserable scores of current vendor partnerships can’t be ignored. All too often, a partnership that starts out full of promise turns sour.
Common problems I hear include poor communication, misaligned expectations, insufficient training and support, botched integrations and product capabilities that aren’t as promised.
Poor partnerships cost companies millions. It’s a likely reason why, according to The CMO Survey, marketing teams don’t use 44% of the technology solutions they purchase.
So why is finding a “good partner” so difficult?
Brands and vendors each have reasons why they don’t share the information needed during the selection process to determine if they can be good partners. Both sides often withhold information that may not paint them in the best light, or assume that certain information gives them leverage. (Much like relationships between people.) Maybe a brand has changed strategy mid-RFP and doesn’t communicate it, or a vendor has a capability on their roadmap but likely won’t hit the release date. It’s not malicious but it’s an all-too-common situation that leads to a downright miserable experience.
Enter Alium
Alium provides the information brands need to pick better partners. They get the unvarnished truth from detailed interviews with their peers. We speak to brand leaders in detail about their real experience with a vendor - and what exactly happens at every step of the way.
A good partnership cuts both ways, and Alium bridges the information gap between sides. We make sure that brands have all the information they need to find and maintain relationships with the right vendor. And we make sure vendors are selling into the right organizations, and building products their customers need. Information is power, so we share our comprehensive interviews in an AI-powered platform for brands and vendors.
Consider these real quotes from brand leaders on their vendor partners:
“I would say the relationship that we have. They are very professional, so they have the ability to understand our needs. They also always have the reflex to ask us, “What’s coming up? How can we get more prepared for what’s in your plan?” They really want to get a sense of where we’re going in advance, just to be proactive. I really feel that they want to be a true partner much more than just a simple vendor.”
“They are not solutions-oriented in the least bit. They have no interest in improving the UI in their products whatsoever. They promised us a bunch of stuff that doesn’t actually work the way that they promised it works in the pitch. And then the worst part about it was they scheduled me to have a one-on-one with them at a conference. And the people came in with an attitude. They actually came in with an attitude. But they also again, had no solutions. If I could fire them tomorrow, I’d fire them tomorrow. Worst martech decision we’ve ever made.”
Real examples, like the ones above, give brand leaders the information they need to see which vendors can fulfill their unique needs and become good partners.
Marketers and ecommerce professionals have typically turned to their peers for this type of inside information. There are Slack channels, professional organizations, review sites, and entire consultancies to conduct technology peer review. Those solutions can be costly, are slow and time consuming, and can sometimes be shallow in their reviews. Alium is free for brand leaders, offers in-depth nuanced opinions, and is accessible 24/7.
If you’d you’re a brand leader in marketing, ecommerce, operations, IT, or media and would like access to our insights, submit an application via the short form below. If you have additional questions checkout our FAQ or email me at lanie@alium.io.