January 8, 2013

I am not referring to a short list of things you can do to achieve success with Internet marketing. Rather, you can use the technique of creating a short list to ensure that you have the most successful and profitable business dealings with subcontractors and vendors. This is especially useful for Internet marketing, since you have a global pool of subcontractors and vendors.

What is a short list?

For any situation where you are accepting proposals from a wide variety of vendors or subcontractors, you want to get the best deal that you can. The best deal is not always the least expensive deal, although price is usually a component. Your short list consists of those vendors or subcontractors whom you are confident could adequately perform what you are requesting, for a price that would not give you too much heartburn. If you threw a dart at the list of names, no matter where it hit, you would be satisfied with hiring that business or person.

Get better deals with a short list

Since only the best proposals will make it onto your short list, the vendors and subcontractors are motivated to offer you the best deal they possibly can upfront, rather than holding out for concessions during negotiations. Once you know which vendors and subcontractors are on your short list, you can compare their deals, and ask them for modifications. For example, if you were asking for a graphic design to be created and only one of the businesses included a free revision of the design, you could ring up the other people on your short list and ask them if they would also offer a free revision of their design. It may be that others didn’t mention this on their bids even though it is part of their service because you hadn’t explicitly asked for it, or would consider including it in exchange for some feature they normally offer which you didn’t want.

Using a short list

In order for a short list to be effective, your vendors and subcontractors must know that you will be assembling a short list, and then coming back only to those that make the short list for a final set of negotiations. When you send out your initial request for proposals, tell everyone that you will be assembling a short list within a week of when the proposals are due – if you are getting fewer proposals, you will need fewer days to read and consider them all – and that you will contact everyone on that list before making your final decision. Also, consider their ability to follow your explicit directions regarding submitting their best proposals and awaiting your contact as a sign of how likely they are to follow your directions in completing the project you assign them.





Sean McPheat

Managing Director

The Internet Marketing Academy



(Image: Rawich at FreeDigitalPhotos.net)

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