Why Strong Relationships are Key to Business Success

by | 31 Jul 23

Trust is the foundation of any successful business relationship. Customers need to trust that their needs will be met and solutions provided that meet their expectations. With strong relationships, lasting trust can be built between businesses and customers, ensuring long-term success. In this blog, we’ll look at why relationship management is so crucial in the world of sales and how it can positively impact your customer success teams as well. We’ll also explore how to build strong customer relationships and why trust is an integral part of any successful relationship.

By understanding the importance of relationship management in sales, you can ensure that your team has the necessary skills to build and manage customer relationships effectively. This will improve customer satisfaction and loyalty, resulting in increased sales performance, higher staff retention and a more successful business.

Why is Relationship Management Important in Sales?

Well, there are two sides to this coin, the first is why it is essential for businesses and employees to have strong relationship management skills, and in short, it is because building strong customer relationships can increase customer loyalty and improve sales performance, making it a cornerstone of success.

Relationships are an integral part of the sales and customer success process because they allow you to gain insight into customers’ unique situations, wants and needs. Having strong relationships with customers means that you can better understand their individual needs and provide them with the right solutions. This leads to greater customer satisfaction and loyalty over time, and When it comes to making sales, building strong relationships is crucial for successful outcomes.

Why are Strong Relationships Important to Customers, Clients and Partners?

If we flip the coin now, the second side and the most important side is why strong relationships are important to customers, clients and partners.

For customers, strong relationships can mean improved customer service and satisfaction levels. When customers feel their needs are being met and their expectations exceeded, they’re more likely to remain loyal to the business.

I often find that in its purest form, what this actually means is that those we work with want to feel like they are being listened to, and our actions are directly linked to what they are telling us. Using the EdTech space as an example, far too often, I see businesses make the mistake of not listening and implementing a one size fits all solution to a problem. A universal problem doesn’t always mean a universal fix, and adopting that approach can be a problem.

How to Build Relationships with Customers and Partners.

Too many people think building relationships with customers and partners becomes important when they are interested in you or your product. It’s my view that this couldn’t be further from the truth. The process starts when your prospecting starts. Do not assume everyone is a fit for your product or service!

I’m a big fan of social selling, but no matter what your preferred methodology in relation to sales, you have to do the research and make sure you are targeting ideal customers. Why? Because we have all had that sinking feeling when we receive the 20th phone call of the week that is trying to sell us something we do not need or want, don’t be that salesperson.

Researching properly before reaching out allows you to add genuine value and, in turn, build trust, and we all know that trust is the most solid foundation of any relationship.

Once you have started to build the relationship, remember what got you there in the first place, resist the urge to jump in and feature bash or pitch slap, and keep adding value and listening, we aren’t in control of the time element here.

In summary, the right person (in your control), with the right message (also in your control), and at the right time (not entirely in your control, and that’s why we make sure we put the relationship first) equals more likely to convert. 😊

Establishing Trust: Tools, Tips and Hints.

Establishing trust with customers and partners is essential for any successful business relationship. It can be difficult to build trust, but there are a few tools, tips and hints that can help you along the way:

  1. Data – utilise data to help you understand who your Ideal Customer Profile is, what your current customers use most and why, and also alert you to potential growth hotspots.
  2. Ears – the age-old adage, two of these and one of these, couldn’t be further from the truth. Whilst data is great for providing insights, there’s only one source of truth in relation to the customer. If you get the honour of spending time with a client, prospect or partner, listen!
  3. LinkedIn Premium – LinkedIn has 958.1 million members, and premium allows you to find contacts in your space who fit your ICP. Speaking from experience, I was one of those who thought the price tag didn’t match the value added. I was so wrong and wished I had leapt sooner. Check it out with the free trial.
  4. Positivity – It might be an obvious one, but we all have the power of positivity available to us. It is important to show a positive face to clients and prospects. Share the energy and confidence you want your clients and prospects to feel about your work or services. Enthusiasm is an attractive personality trait that people enjoy being around. Your clients and prospects are no different
  5. Individuality – when you’re dealing with clients, it’s essential to maintain a professional relationship. But you know what? Showing them that you see them as more than just a source of income can really make a difference. Of course, the level of personal connection you establish will depend on your industry, the type of client you have, and their personality.

For instance, if you know your client is a parent, it’s totally cool to ask them how their kids are doing. It shows you care about their life beyond work. And if you have a closer bond with a client, you might take it a step further and send them something more personal, like an email with a news article about their favourite musician. Trust me, little gestures like that can be truly appreciated.

Final Thoughts and Conclusion.

Relationship building is an important part of the sales process, but it takes more than just a handshake to build trust. Utilising data, listening carefully to customers and partners, using tools like LinkedIn Premium, taking a positive attitude into conversations with stakeholders, and showing your clients you care about them as individuals can all help you build stronger relationships.

At the end of the day, relationships are the backbone of any successful business. A strong relationship between a customer and a business can lead to increased customer loyalty, improved customer service, and better overall outcomes for both parties.

So I hope this short blog helps you to build excellent relationships with your customers, clients and partners – it’s essential for success in modern society, and we have more tools and support than ever before to help us build and strengthen our relationships.

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