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Case Study – Vendor Research for a Niche eCommerce Marketplace Startup
SunTec Data assisted an Indian eCommerce marketplace startup dealing in furniture and home accessories in attracting new vendors on-board. The assignment aimed at identifying 250 vendors corresponding to client’s market niche and qualifying client’s ‘Vendor Standards’. The SunTec Data Team also conducted a first level contact with eligible vendors to determine an expression of interest in doing business with our client.
The client was struggling to meet mounting execution demands of their business and marketing strategy, as well as draw vendors on-board in a highly constricted time frame.
Assessing the compatibility of vendors according to given parameters.
Hiring a reliable and cost-effective resource to do the job added to the challenge.
SunTec Data's Solution
The team at SunTec Data closely liaised with the client to get an in-depth understanding of their market niche, and the vendors that would best align with their marketplace platform.
The research experts at SunTec Data adopted a two-pronged strategy:
Created a profile of vendors via secondary research (vendors in same/similar niche on existing eCommerce platforms, organization and history, important market segments, product range and operations, key financials and other developments, etc.)
Identified 330 potential vendors that fulfilled our client’s requirements by examining how users/customers rated them on review sites, analyzing their process, permit for pan-India sales, and delivery capabilities, reviewing their financials and looking for any other critical information, which could be of help.
Appointment setting: As a value-add, SunTec Data's team of primary researchers initiated a first-level contact with potential vendors. We sent emails and made phone calls to our list of qualified vendors to find out their expression of interest in doing business with our client, as well as to understand if they met our client’s Vendor Standards.
SunTec Data's research helped the client stay focused on execution of their business and marketing strategy.
SunTec Data's research team worked on generating a consolidated excel database, comprising:
Total number of vendor profiles (based on broad criteria): about 1100
List of potential vendors: about 430
First level contact established: 280
Vendors validated by the client: 250
Vendors on-board: 214
Details of the validated appointments, and accompanying details of the communication, etc.
Client was exceptionally delighted with SunTec Data's initiative of making a first level contact with key potential vendors as it smoothed the process of vendor finalization, and consequently helped solve the next level of challenge.