Squeezing value out of third-party services is never easy. While many appear to offer incredible benefits upfront, it can be harder to ensure they do so in practice.
That’s where this post can help. We look at some intelligent tactics you can use to derive more value from other companies so you can get the value you are paying for.
Prioritize Integration
The first step is to prioritize integration with the companies you ally with. Working closely together with them and ensuring proper flow of information between your firms is pretty much the only way to do it.
Start by looking for services that can adapt to your existing workflows. Look for companies that can slot into the way you do things now and begin providing value immediately. Avoid solutions that force you into making expensive changes that confuse senior managers and regular staff.
Use Services You Need
While it might sound obvious, the second step is to consider whether you actually need the services you are buying. While every company that sells online needs a merchant account provider, you might not require a cleaning company or someone to come in and train your staff how to use Excel.
Therefore, prioritize your use of third-party firms by only outsourcing the tasks you struggle to perform in-house. Don’t become one of these companies that believes it needs to delegate everything, just because the rest of the industry does that. If you feel that your brand can do things better than anyone else, stick with it.
Negotiate Contracts
You could also try negotiating contracts with third parties. However, be careful how you approach these interactions. While squeezing more money from customers is always something you can do, getting more from the businesses that supply you might not be a good idea. After all, you are relying on them to stay in business.
During negotiations, look for ways to reduce the cost and secure better pricing. Seek customization features that let you adapt the services to meet your needs, lowering the cost of provision and ensuring you only pay for things that generate value for you.
Use Free Trials
If available, you can also try using free trials and demos of third-party services. This way, you can determine whether they will offer you value before taking the plunge.
Most services will give you a week to a month for free. During this time, you can test their systems and decide whether they add sufficient value to your workflow. If you discover that they free you up during the day, it may be worth paying for a subscription.
Build Closer Relationships With Suppliers
Another tactic is to build closer relationships with suppliers and external companies to learn more about what they can do for you. Gaining deeper knowledge can help you determine whether you are on the right track or need something different.
Getting closer to suppliers can also help you forge closer relationships with them. Knowing them on a personal level could help you get discounts or first refusal on special orders.
