Amazon is a huge marketplace with tons of products. Wouldn’t you agree? And to achieve success in your business, you have to have a successful collaboration with Amazon. But that requires nothing but a good relationship with your vendor account manager.
This must be a new term for you and you must be wondering what their goals are, and what challenges they face in order to help your business. In this blog, we will discuss everything about vendor account managers and how to identify the best one for you!
All You Need To Know About Vendor Account Manager
A vendor account manager is someone who works as an internal employee of Amazon and acts as a substitute for Amazon. They are the prime contact person for your vendors. They have to look at several tasks at the same time.
These managers always have tight schedules and at times have to cope with unattainable annual goals. They are capable of handling your 50-150 vendor accounts at any given moment. Their major focus is on the facts and figures gathered and the customer experience being served. A personal relationship with your suppliers is their secondary work.
Note To Keep In Mind!
Vendor account management has a high fluctuation rate. So, to help with this, Amazon follows a rotation model to allow their employees to change departments regularly. You will notice a change in your contacts from time to time once you have been placed in the position of a vendor. This makes it difficult for them to maintain a continuous relationship and give proper support being an external company.
Why Do You Need To Hire A Person For Your Vendor Account Management?
The vendor account manager helps in fulfilling the following duties:
- Bringing turnover
- Managing gains and losses
- Marketing your business
- Promotions of your products
- Handling supplier negotiations
- Customer satisfaction and feedback
Goals Of A Vendor Account Manager
If you want to have a better understanding of your amazon vendor management, it is important for you to know their goals and what challenges they face.
The following are the two main goals they try to achieve:
- Achieve More Sales Within The Given Category.
- Increase the Profitability Of Your Business.
Each of the managers aims to work for a specific category on Amazon, for example, “Healthcare.” If your vendor account manager has been assigned a newly created category, then it is their duty to promote that category’s growth.
Note: Remember that their goal is never to promote your brand or any of your specific products.
Challenges Of A Vendor Account Manager
The major challenges they have to face are given below:
- Prioritizing Your Business Tasks:
Only a few vendor account manager can cope with the high workload placed on their shoulders. Therefore, one of their greatest challenges is to prioritize their business projects. Remember that a good employee efficiently does about 70% of his work at a time. The creativity lies in managing the remaining 30% of the work.
Nowadays, the number of vendors is increasing day by day, so it is not possible to give equal attention to every manufacturer. That is why Amazon ranks manufacturers by their relevance.
- Profitability Within A Given Scenario:
Since the vendor account manager works for Amazon and Amazon frequently automates processes, the managers are restricted in their authority to act. Amazon’s price-matching system is used to set product prices, and the industry is not prepared to cope with the automated price matching of Amazon.
Thus, to increase the category’s profitability, your vendor account manager is dependent on the suppliers. For instance, you can grant them better conditions or better purchase prices.
Note: Accommodate your vendor account manager at a high rate; then, you will get better support for your own company’s profitability. The vendor manager takes care of your proactive actions.
To Sum-Up
Understanding your vendor account manager is very necessary for building a robust partnership and having long-term success on Amazon. The above points are enough to identify the best manager for your business. However, it also comes with a range of challenges that you need to overcome if you want to make a name for yourself in the marketplace. This is where hiring an Amazon vendor central consultant can be helpful to you! Let’s learn about the need to hire them in 2023 for your business.
At Services4Amazon, we provide you with a solution-oriented approach to bringing your brand more customer attention. Our vendor managers are highly efficient in taking your business to the next level. Call us and help your business grow.
