With indicators that the recession is drawing to a close, most businesses are still feeling the financial burden of the past year and a half. However, now is exactly the time for vendors to evaluate their operations in preparation for an economic turnaround.
In the last couple of years, most vendors have downsized to some extent, cutting back on expenses to offset loss of revenue. During this time, your reliance on partners has likely increased, though you may have had fewer resources to offer them. It’s time to start making small changes that will make a big difference in future sales.
To start, determine which partners were most successful during the economic downturn, which ones struggled, and which ones maintained but will likely stagnate without a significant investment on your part. Next, focus on optimizing the partners in the first category. Ask to evaluate their business plans (which, like marketing, is often not a reseller’s strongest suit), and work with those partners to develop and evolve the plans with the upturned economy in mind. In the meantime, promptly reimburse all partners for MDF or co-op programs, as this money will help them keep building relationships with end users to sell your products.
By thinking logistically and tweaking your existing models of operation, you can situate yourself ahead of the competition in any economic environment.