We’re Spending How Much?!

Okay, so you’ve been with this vendor for years. But are you still getting the best price? When was the last time you checked? IMD is all for building relationships with vendors, but at the end of the day – loyalty lies first and foremost with the client. 

Assess Your Spending:

Don’t Be Lax.  There’s a familiarity and comfort with using the same vendor year after year. But a small increase here, a slight change there over the years…adds up. Absorbing cost increases in any area directly affects the prices you can offer clients. Don’t be lax about getting the best cost.

Get A Quote. Check around, and guarantee that you are receiving the best cost. New businesses open, costs fluctuate. Can you get the same, or better, results for less? Getting alternative quotes will either: Give you peace of mind that you are in the right ballpark, or alert you that it’s time to make some changes. 

Tell It Like It Is. Be upfront with vendors that you do regularly check around, and that you will go elsewhere to protect your clients’ best cost.
It’s not rude – it’s business competency. A vendor will think twice about trying to pull the wool over your eyes when they know your company
shops around.

Question Why. New year, new rates – I love that one. Why? Should a new year be an automatic chance to hike up prices? No one has to raise rates – it’s a company choice. Question the validity, and don’t simply accept price hikes. 

Bottom Line: Getting the best cost is crucial. The end result is money saved that relays directly back to your client. Loyalty lies first and foremost with the client. IMD.