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Building Relationships For Business Growth

Small businesses depend on building relationships. This business strategy is one of the major skills that you should constantly apply with all your dealings and contacts.

Dealing with Prospects

Everyday you meet people who can be our potential customers or buyers. And sadly, these people are not even aware that your business exists. The statistics suggests that you get a hold of 1% to 3% of response rate when you carry out direct mail, door knocking or even telephoning to these cold contacts.

Meeting new potential clients can advance to “warmer contacts” if you meet them numerous times. Same goes when an existing customer provides you a direct referral. This is one business opportunity that you should never be taken for granted. Instead, you should listen to the things they need. Build relationship with them by discovering their interests. And in due course you will be comfortable discussing with them their purchasing habits.

Identifying and recognizing client’s requests are main steps needed to be done in handling customers. Second is, instructing clients the appropriate products to choose. These contacts will eventually lead and develop into so called “hot contacts”, which are ready to purchase and trust you in doing business with them.

Taking Care of Customers

Building relationships is a nonstop process between you and your customer. Keeping them informed on delivery procedures and how it goes is a plus point in customer service. And when you talk about delivery cycles and how it is progressing, nobody likes to get surprises. Assisting your customer on any delivery inconvenience and getting through the grueling tasks of delivery delays and quality issues, will establish your communication efforts with them. Thus, appreciation and concern that you have invested on them will also be valued.

Track customer’s needs after you closed a deal with them, by keeping up a sufficient communication and responding to their needs right away. Customers want value added service especially when competitors offer them discounts on volume orders.

Maintaining and having a good relationship with them can refer you to three more new interested customers that can grant you a good revenue by simply valuing the relationships with existing ones.

Building Business Relationships With Your Clients

It will take you time and effort to convert a potential customer into a buyer so building a lasting relationship with your repeat buyers can be most beneficial. Statistically speaking, it costs about 30% less to sell a product to repeat buyers than selling it to prospective customers.

By asking them what they value most about your product or service, you also obtain valuable market information that you can use to give you that competitive advantage. It will take some time to build a quality business relationship with your client. But once your customer has entrusted you with relieving their stresses and making life easier for them, they will keep coming back to you again and again.

Your Most Valuable Supporters

Your loyal customers are also your most valuable supporters. Make them feel they are part of the success of your company by informing them of your plans and activities. Doing this will help you broaden your market reach because they can recommend your company to family and friends. With these recommendations, you immediately get potential customers with less effort.

Be consistent with your product or service. Always offer your customers what they expect you to deliver. Build a good business relationship with them and you will have a valuable supporter. This is a long term plan but also the fastest way to grow your business.

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