Finding The Right Vendor

What is Murdock London?

Issue: There was a disconnect between the stores and online

How did we resolve this?

STEP 1:

STEP 2:

STEP 3:

STEP 4:

STEP 5:

Establish the ProjectCreate Proposal

Meet with Vendors Research

Evaluate and Decide!

Step 1: Establish The ProjectBeing prepared before you begin

• Why are you looking for a vendor?• What are your goals?

• Who should be involved?• Appoint a project leader

• What is your current business situation?• What is wrong with your current vendor?• What is good about your current vendor?

• List everything!• Think in depth about your limitations

• Consult with your colleagues (more than likely their

issues are intertwined with yours!) • Highlight your best case scenarios

• Be realistic about the amount of resource you have• Transparency is key!

Step 2: Create Your ProposalIdentifying the areas of concern

• Customer data held in two places• Two non communicating platforms

• Multiple duplications • Not communicating with customers effectively

• 360 view of customer interaction• Unable to provide cross channel customer service

Step 2: Create Your ProposalIdentifying the areas of concern

• Google is your friend!• Utilise LinkedIn to connect with people in your industry

• 3rd Party agencies (software advice)• Attend seminars, conferences and workshops

• Sign up to everything (Media Week, Imedia, Econsultancy)

Step 3: ResearchGoing to market – preliminary research

• Stay hydrated (seriously)• Establish how long you have before you begin

• Send your proposal and set a deadline for follow up• Only agree to a demo if they can meet most of your

requirements. No need for pleasantries at this stage• Create a spreadsheet detailing vendor and dates

including your key requirements

Step 3: ResearchMaking Contact – The tedious bit

• Research the vendors thoroughly• Read their proposal!

• Prepare questions and highlight any concerns• Don’t be afraid to challenge

• Arrange to meet in your office first (don’t be wowed by their biscuit

assortments)• Have all relevant parties present and informed. It’s imperative all areas of the

business is covered

Step 4: Meeting VendorsThe grilling

• Create a spreadsheet highlighting the pros and cons • Scrutinise every cost and deliverable

• Ask for a further meeting or demo if you are unsure (this time in

their office)• Act like your in a souk and haggle- don’t be shy!

• Trust your gut instinct and feelings. Have they tried to build a

rapport with you?

Step 5: Evaluate and DecideCrunch time!

Thank you

Adeola Sole

CRM Manager – Murdock London

adeola@murdocklondon.com

www.murdocklondon.com