Tuesday

The high value of relationship-building


As more businesses turn to the Internet for marketing purposes, and fewer business ventures involve face-to-face contact, one of the aspects of successful business marketing is getting lost. In years past, companies depended on face-to-face relationships for building a successful client base. Today, more business ventures are forced to accept the new reality and learn relationship building from an entirely new perspective.  Building relationships with clients is still the best way to find long-term success in business, it simply needs to be evaluated differently in today's global economy. This leaves many companies struggling with gaining more clients through successful relationship building in a new marketplace.

Communication matters

Entrepreneur Magazine offered some great tips for relationship building. At the very top of that list is developing information that helps clients make a decision. Communication is the secret to great relationship building and this can be done in numerous ways, even through the internet. Whether a company decides to utilize social media, articles or newsletters, keeping clients informed is the best way to strengthen the relationship.

Not all about sales

While sales will drive long-term business success, developing relationships will be what leads to long-term client building success. When providing reliable, verifiable, and well thought out information to customers and potential customers, do not always focus on selling to that customer. One of the most effective ways to drive sales is to enhance the credibility of the company, the leadership of the company and the product or services that are offered. Providing great information while not constantly begging for a sale can be very effective.

Customer development

Another important aspect of relationship building is active involvement. All too frequently, entrepreneurs tend to filter their client relationships down to salespersons, customer service staff and others in the company. Once the account is landed it is oftentimes easier to do this than deal with them on an ongoing basis. However, keeping in contact with clients on a regular basis can help not only develop that customer further, but can lead to new business. Another important benefit of keeping actively involved in customer development is staying in touch with what is happening across the company. This regular interaction keeps the entrepreneur involved in all aspects of the company.

There is little doubt that the internet, social media marketing and a global marketplace have changed how entrepreneurs deal with clients and potential clients. However, rather than becoming more detached from the relationship-building aspect of business, this is the time when better relationship building should become the norm. While business development, product development and sales have a major impact on the long-term success of a business, relationship building will ultimately be the deciding factor in long-term success.