12 - How Partners Vet Vendors & Cringey Things Vendors Need to Stop Doing Now

Partner Relationship Management (PRM): The Ultimate Channel Sales & Partnerships Podcast

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It’s no secret, potential partners start scoping you out long before approaching you.
Sure, it’s easy to brush off anonymous complaints as “unimportant”.

But don’t forget, the channel community is listening.
Today’s episode brings a new perspective on partnerships. We welcome someone representing the other side of the channel: a channel partner, straight from the MSP community.
Listen to this episode to find out:

• How partners vet vendors
• Managing your reputation in the channel community
• Which common practices turn partners off from working with you
• And, as a bonus,
  How to start delivering marketing that adds more value to your partners

Today's guest has been in the tech space for nearly 30 years. For the past 2 decades, he’s been a tech entrepreneur and advocate for open-source software. He maintains a YouTube channel, “Lawrence Systems” has over 258-thousand subscribers where he vlogs on: Tech, IT and, cyber security. And he’s currently the President at Lawrence Technology Services, a Managed Services Provider based in Michigan.

Read the blog: https://www.magentrix.com

(0:00) Introduction
(02:34) Why is it important for an MSP to thoroughly vet vendors?
(4:11) Define the MSP community and tell us where you connect with each other?
(5:41) Red flags that can make you stop pursuing a partnership altogether
(8:06) Green flags – Factors that inspire confidence in working with a vendor
(9:33) Cringe-worthy call-outs: Claim # 1
(11:13) Cringe-worthy call-outs: Claim # 2
(12:39) Does breaking trust tend to affect vendor reputation forever? Can a vendor come back from breaking trust in the partner community?
(14:57) Things vendors need to start doing to increase transparency overall
(16:12) Pricing and transparency: How should vendors list pricing?
(18:50) Product feature pages are usually written by marketers. How do you ensure that a vendor’s product does what it says it does?
(21:05) Vetting Vendors video reaction
(25:52) How can vendors be as transparent as possible
(26:11) What's the right balance of marketing vendors should do?
(28:09) At what point in your vendor vetting process do you reach out to engage with them about a potential partnership?
(29:54) Advice for vendors dealing with issues that are negatively affecting their reputation today
(31:14) Conclusion

This production is brought to you by Magentrix ✨💜
Magentrix is a pioneer in platforms for partner ecosystem management and partner relationship management 🤝

If you haven't already, please like 👍 & subscribe! ✅ And if you enjoyed this episode, please leave us a review on Apple Podcasts ⭐️⭐️⭐️⭐️⭐️ https://apple.co/3HcqSsm See instructions to do so at the end of the episode.
To learn about Magentrix PRM, please visit www.magentrix.com
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Podcast Credits:
Host: Paul Bird
Executive Producer: Fereshta Nouri
Content & Research: Fereshta Nouri
Graphics & Branding: Fereshta Nouri

Luvut

1. 12 - How Partners Vet Vendors & Cringey Things Vendors Need to Stop Doing Now (00:00:00)

2. Why is it important for an MSP to thoroughly vet vendors? (00:02:43)

3. Define the MSP community and tell us where you connect with each other? (00:04:20)

4. Red flags that can make you stop pursuing a partnership altogether (00:05:50)

5. Green flags – Factors that inspire confidence in working with a vendor (00:08:15)

6. Cringe-worthy call-outs: Claim # 1 (00:09:42)

7. Cringe-worthy call-outs: Claim # 2 (00:11:22)

8. Does breaking trust tend to affect vendor reputation forever? Can a vendor come back from breaking trust in the partner community? (00:12:48)

9. Things vendors need to start doing to increase transparency overall (00:15:06)

10. Pricing and transparency: How should vendors list pricing? (00:16:21)

11. Product feature pages are usually written by marketers. How do you ensure that a vendor’s product does what it says it does? (00:18:59)

12. Vetting Vendors video reaction (00:21:14)

13. How can vendors be as transparent as possible (00:26:01)

14. What's the right balance of marketing vendors should do? (00:26:20)

15. At what point in your vendor vetting process do you reach out to engage with them about a potential partnership? (00:28:18)

16. Advice for vendors dealing with issues that are negatively affecting their reputation today (00:30:03)

17. Conclusion (00:31:23)