A good deal is good for both parties. They both benefit.
Selling seems one sided. Just say the words out loud. “Good sale” is good for the seller. “Good deal” is good for you and the other guy. They feel like different things.
At Vendo we try to do good deals. Competing billing services try to sell. We could do that, too, but it’s not a good match for our business. Our relationships look more like a deal between partners where both sides benefit.
There are lots and lots of people selling billing services online and at trade shows. More than anyone cares to count. As the saying goes, you can’t swing a dead cat without hitting one of them. But no one wants to talk to a biller. Why? We have a friend who runs an ad network. He brings five or six of his people to a trade show. One of their explicit rules: “Don’t talk to billers.” In other words, don’t waste your time. Focus on business. Focus on doing deals rather than being sold by a biller. We get it.
How are our partnerships more like doing a deal than being sold?
Our partners give us a very important role in their business. They share access to their most sensitive information. Their plans, their strategies, their goals and also their sales, revenue, visitor and customer data. We work hard to make them more money with that information. For example, we’ve invested millions of dollars over the last five years in artificial intelligence to make the most of the data they give us. No two sites or companies are exactly alike. As their biller our role is also mission critical. We provide the cash flow. If there is a major problem with cash flow then most businesses we work with would close within weeks.
You don’t want to be “sold” a relationship this important. You want to do a good deal that lasts. We’ve partnered with most of our clients for many years. They wouldn’t have lasted if they’d been “sold,” the partnerships work because they’re a good deal for both of us.
6 ways our relationships are more like “Good Deals” than “Good Sales.”
We both affect each other’s business in big ways.
2. Up front investment
It typically takes months to set up the partnership. Both sides invest a lot of resources to make it work.
A bad partnership can suck resources for little return (resources that could go into making a good partnership more money)
4. Value Creation
Each new customer interaction creates more value. We learn about your business and make more money for both of us.
5. Problem Solving
We have to solve problems and meet challenges together. A good example is the new Visa rule change.
Sometimes we need to be in close contact. We expect each other to be available when needed.
When we talk with prospective new partners we aren’t selling billing. We want to see if there is a “good deal” on the table. Will both parties benefit in the long term? If not, let’s both focus on doing good deals with other partners. If so, let’s talk.