What Corporate Buyers are looking for from MWBEs?

On Friday, I had yet another great meeting with a Corporate Buyer, Blue Cross Blue Shield.  The meeting was a result of JKA’s certification as a Minority Owned Business (MWBE) with the Greater New England Minority Supplier Development Council.  Our team is committed to utilizing our MWBE certification as part of our marketing plan to increase business with Corporate buyers.  We have an aggressive goal to move sales in our Professional Training & Development Division to seven figures. 

The meeting with Blue Cross/Blue Shield took place after encounters with the Supplier Diversity Program Manager at networking functions we attended with  GNMSDC.   We have a system in place to follow-up on contacts; on a weekly basis the JKA team reviews all the business cards we get at events, load them into a customer relationship management database and qualify leads.   As a certified MWBE, we are very strategic about our resources, and we know that not everyone we meet is going to be an ideal client. Leads are qualified and ranked based on our specific criteria and buyer needs.  The JKA team will focus on leads where real opportunities exist.  Priority leads are researched and called upon timely for the purpose of scheduling an appointment (we believe in face to face contact). The remaining leads are positioned for stay-in-touch marketing or reviewed for other opportunities with strategic partners.  We do follow-up with everyone in one way or another.

The meeting with the Supplier Diversity Manager at BCBS was a huge success, resulting in follow-ups with Strategic Sourcing in the areas of Facilities Management, Healthcare, and Training & HR Compliance.  I took the opportunity at the meeting to ask the Supplier Diversity Program Manager if he had any specific advice for MWBEs looking to do business with Blue Cross/Blue Shield, and the results are provided below:

1. Do your homework – buyers want to get a sense that you have researched the organization and that you have some understanding of their culture. Blue Cross/Blue Shield is a franchise business, each franchise operates differently, some are for profits and some are non profits.   Profit vs. Non-Profit is an important factor in the decision making process to purchase goods and services.
2. 2.       Strong Past Performance – past performance history is viewed very carefully. Your company’s capability statement should site clear examples of your previous experience with detailed information about the product/service provided along with a point of contact who can verify the information.  If your company has done business with BCBS previously, it is considered a plus.  Prior industry experience is also looked upon favorably.   For small MWBEs just starting out, adding a strategic partner, a board of advisors or teaming with a firm that has had experience with BCBS are all options that are available.  
3. Memberships/Associations – the team at BCBS has clearly made a commitment to Diversity as evidenced by their membership and active participation GNMSDC.  If you are a certified MWBE then be sure to attend GNMSDC meetings and networking functions. The Supplier Diversity Manager informed us that relationships are important to BCBS.

 

1. Buy Local – we were informed that BCBS buys local; they are first looking to do business with local business owners, then regional, then national.  Again, for MWBE’s this insight provides you with a value tool toward positing your company for success either through expansion, partnering, teaming, or local positioning.
2. 5.       Register on the company’s website – the purchasing department at BCBS is serious about doing business with MWBE’s.  The company’s website is used by the Strategic Sourcing Group to  find qualified vendors and distribute RFPs.  If you are not on the list, chances are you won’t be considered for opportunities.
3. 6.       Bundling Services - BCBS is looking for value; and bundling was used as an example of a way to bring value to the company.  For MWBE’s bundling could be a great way to distinguish yourself from your competition. 
4. 7.       Competitive Pricing & Quality Service – pricing is definitely important to BCBS, however that should not be confused with providing the lowest bid or “cheap” service.  BCBS is looking for the highest value and your best competitive price.
5. 8.       Marketing Materials – it may sound obvious, but quality marketing materials are important to making the right impression with BCBS or any corporation.  One of the things that are definitely changing in the market place is the delivery of those materials; more and more I am seeing glossy folders and brochures replaced with interactive high quality electronic marketing material.  During my meeting with BCBS, I was asked to provide electronic marketing materials to the Supplier Diversity Manager so he could forward them electronically to other buyers within the Corporation.  Our glossy folders and expensive brochures were returned to us. 
6. 9.       Website – it’s obvious to me that if buyers are looking for high quality electronic marketing materials, they next place they will be looking is your website.  Website should reflect the high quality standards and corporate branding that is attractive to your target audience.  Website should also be to date with your latest service offerings, contact information, etc.  Get rid of old dated content.
7. 10.   Social Media – social media was not mentioned during my meeting with BCBS, however I am putting it on the list because there is growing research that reflects that social media sites are equally or potentially more important than your website.   I’ll use LinkedIn as an example; I personally know that before buyers connect with me, they are visiting my profile on LinkedIn.

One of the other things I think important to mention is the culture at BCBS, there was definitely a commitment to the local community, customer service and employee wellness.   Offices were decorated with local art from Women Owned Business in celebration of Women’s History month.  The cafeteria displayed results of wellness competitions, weight loss results and pedometer tracking.  Food selections included a variety of fresh locally provided produce, and dairy products with a list of healthy suggestions and a calorie counter. Everyone I encountered at BCBS from high level Executives, security personnel to cafeteria workers seemed to “buy in” to into the culture.   Employees seemed happy, engaged and definitely customer service oriented.  I would suspect that a company that puts this much emphasis on employee culture and core values looks for the same in traits in their vendors.  This is good news for JKA since we are all about employee engagement, wellness and customer service.