The wisest leaders understand growth comes from recognizing that success is rarely a solo endeavor. For thriving practices, this means fully embracing the potential of vendor relationships beyond price negotiation.
It’s easy to get caught up in only negotiating prices, but vendors often offer far more. As we step into 2025, now is the perfect time to enhance your relationships with your vendors by making them strategic partners, rather than just suppliers. Strong partnerships can help you unlock new benefits, save costs and achieve your goals. To make the most of these relationships, start by defining your goals for the year.
For example, if you are a growing practice, you may want to prioritize patient growth, but if your practice is established, you may choose to focus on team training and culture-building to prioritize revenue per exam.
Once your priorities are clear, you can begin a comprehensive 360° vendor review that digs into how they can contribute to your success. Ask how they can support your unique goals. Many vendors are eager to provide creative solutions because as you grow, they grow. They just need you to ask the right questions. If you want to grow your patient base, explore how vendors can support your marketing efforts. Ask about co-op dollars and whether you can use them for print advertising, in-person events such as health fairs, or digital campaigns using social media and Google Ads. Find out whether there are any additional growth rebates or buckets that can help you access resources to put toward your patient recall or new patient acquisitions. Don’t hesitate to tap into these resources. They are designed to help both your practice and vendors succeed.
If your goal is to increase revenue per exam, training opportunities are critical. Don’t underestimate your vendors’ expertise. As consultants, we joke that vendors often propose great ideas that are overlooked simply because they come from someone “selling something.” Yet when we, a paid consultant, present the same idea, it’s seen as brilliant.
Speak to your team and break this mindset. Treat vendors as the resourceful partners they are. Collaborate with them to develop team training on critical initiatives such as yearly contact lens supply sales or brand storytelling to boost sales of higher-end frames. Be proactive: Schedule multiple sessions and follow-ups to ensure lasting results. By aligning your vendor conversations with your practice goals, you can ensure your vendor relationships are strategic and beneficial to your business growth.
To help maximize your vendor meetings, consider this step-by-step approach:
- Review Growth and Spending: Look at your metrics from the past year. Which products helped you grow? Does that result align with your expectations? Did you grow with the vendor overall? Discuss what you can expect for this year.
- Analyze Return Rates: Where applicable, how was the return process for you and the vendor? Do they make it easy or difficult? How can you work through problems
- Customize Conversations by Vendor Type:
Lab & Lens Brand Reps
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- Do their turnaround times meet your expectations? Do the reports match the promises made?
- Are returns easy to manage?
- What training programs are available for your team?
- Can they support co-op marketing or provide growth rebates?
Contact Lens Brand Reps & Distributors
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- How easy are product returns?
- Can they provide training resources?
- Are there opportunities for co-op marketing or promotional support?
- Can they host training lunches or dinners for your team?
Frame Reps
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- What co-op marketing programs do they offer?
- Do they have frame buy-back programs to clear unused inventory?
- How did your return rates compare to expectations last year?
A 360° vendor review isn’t just about evaluating products and services—it’s about leveraging your partnerships to unlock growth and success. By asking thoughtful questions and aligning their offerings with your goals, you can turn 2025 into your most productive year yet.
