VENDOR PARTNER CHECKLIST
Bringing your product to US markets? Use this checklist to be sure you’ve thought of everything you’ll need to make a successful move into North America.
Market Access – It is important to have industry knowledge and connections in order to know who to call to make appointments and how to get to decision-makers in order to close sales.
Sales Team – You’ll need to have an experienced sales team of industry professionals who are trusted by buyers in your product category.
Customer Service – You will need customer service representatives in the US who are trained and prepared to service customers financially, with after-sale service, damaged goods, product returns, and more.
Logistics – You’ll need a logistics center in the US to parse and fulfill orders large and small. Whether you buy or lease space you’ll need these facilities and staff in the US.
Receivables – You’ll need to track outstanding invoices and terms for payment and have the ability to financially service overhead while waiting for payment. It will be important to have experienced staff ensuring timely collections of receivables.
Language – It is important to communicate clearly and to understand business customs in the US. Customers’ comfort level rises through communication with native-speaking US representatives.
Competitive Analysis – Understanding your competition in the US will help with setting price points, marketing strategy, and knowing who to approach with your product offering. The competitive analysis comes from sales representatives, surveying, industry association resources, and more.
Access to Distributors – Distribution networks can take many years to develop, but they are very important for moving your product into the hands of customers in meaningful ways. Finding access to an established distribution network can be key to success.
Credit Check – Credit checking and payment planning whether it’s prepaid or using credit cards are important resources that will need to be accommodated for the financial aspects of your US operations.
Pick-Pack-Ship – Orders must be taken, products must be picked from a warehouse, and they must be packed and shipped. This can be done by your own employees or through a paid service.
Freight Relationships – Relationships with freight carriers must be developed and maintained to have competitive shipping costs and reliable delivery.
Marketing – Generating interest in your product, educating customers, and promoting products in the right place at the right time are all functions of marketing that must be planned, created, and executed.
It could take many years to be able to check all of the boxes on this list. The good news is that Lentus checks every box for you. Contact us today to learn more about how we can help.