How To Identify And Brief The Right Data Partners And Suppliers

Depending on your data and insight requirement for your organization, there is a chance that you may need some help. But can you tell if you need a data supplier or a data partner that best suits your situation?

Watch our Senior Director of Research, Suzanne Van Montfoort's guide to finding the ideal data supplier or data partner and how to brief them

The distinction between suppliers and partners

Suppliers tend to provide a particular product or service to standard specifications. Because of this standardization, they don't need to have a deep understanding of your business or your objectives. This means they often have a transactional approach in that they deliver their offering for a specific, pre-defined amount of time.

Partners, on the other hand, tailor their services or products to your needs. They need a deep understanding of your business and your objectives to do so properly. This often leads to long-term relationships where you will collaborate closely.

Choosing the right data and insight supplier or partner

Regarding event data and insight providers, many event technology platforms come with their own analytics and dashboard suites, with the advantage of being quick and simple to use, and they often have some helpful functionalities. You can purchase access as part of a wider technology transaction, and then it's plug-and-play. Sometimes, that's all you need, which can be cost-effective, especially if you already have the time and skills in-house to interpret your data.

However, standard functionalities on event tech platforms can often be difficult to customize. And if your insight needs are a bit more complex or unusual, there can also be limitations in the level of insight that standard products are built to deliver. Many don't provide any context or benchmarks, let alone any commentary about your results or what you can do with them.

If you're not particularly data-savvy or simply time-poor, getting insight or value from these standard analytics may pose a challenge. In that case, you may need to consider a different type of solution that fits better within the partner model.

When you look to outsource data analysis and reporting, it's important to have clear goals and know what you'd like to achieve with your data. Then, you'd be able to work your way back to identify what analytics or reports you need to enable you to do what you want. In turn, it will steer you as to whether you should look for a partner or a supplier.

Briefing your data partner for success

If you need an event data insight partner, we've gathered some tips and tricks based on our experience.

1. Zoom out to a big picture before diving into details

Start with sharing your goals and objectives and provide context behind them. Instead of hammering the survey questions you think you'd like to ask in a survey. This means you should start telling your potential data partner:

What are you hoping to achieve?
Why is it important to you?
What are the underlying challenges and priorities?
What decisions are you looking to make based on this insight?
Who are the key stakeholders, and what are they most interested in?

A good partner who understands the situation, your objectives, and any constraints, should be able to advise you on the approach. Taking time to talk them through your goals and objectives will help them deliver what you want, rather than only what you asked for.

2. Details in the process

Having communicated what you'd like to achieve, it's time to get down with the nitty-gritty and collaborate closely with your event data partner. Details below should be ironed out:

What data do you already have?
What are the data gaps that you'd like to fill?
Are there any complexities around data being on different systems, in different formats?
What deliverables do you need?
- Do you need raw data that you can manipulate?
- Finished reports with detailed analysis?
- Branded visuals?
Key timings and deadlines
An indication of the available budget
What is your procurement or decision-making process?
Main points of contact on both ends.

There are always many moving parts to any complex project. Early clarity about practicalities such as these will avoid confusion, delays, and disappointment further down the line. But not to worry! Your potential partner should also share information with you and provide the confidence to decide whether you will work with them. Covering the basics, make sure you understand:

The focus and capability of your potential partner's company - how much expertise do they have in providing the deliverables you're after?
What would the process of working with them look like?
What will they need from you for you to plan your internal resources?
When can they deliver what you need - what is their lead time?
How much would it cost, and what does that depend on?
- Projects can often be scaled up or down depending on the time and budget available. Understanding the flexibility and the implications can help you decide if you want to change the scope of the project.
Who will be your main contact if you have any questions or requests?

Encourage any potential partners to be open and upfront about any limitations to what they can deliver for you to make an informed decision. If someone promises you everything you want, whenever you want, for however much money you have, that should set alarm bells ringing. Remember, if something sounds too good to be true, it probably is.

3. Collaboration leads to success

Depending on your role and organization, the decision may be just up to you, or you may have a complex stakeholder landscape to navigate. If it is the latter, take along your stakeholders and get their support early on. Nothing is more frustrating than having a great idea, a great partner, and a great plan that you are ready to execute, but everything gets put on hold or even canceled at the last minute because you don’t have the right buy-in internally.

Having a data and insight partner can mean a long-term collaborative relationship. So, take time to scope things out, develop a plan, and find someone you trust and enjoy working with will save you significant time and headaches.