Relationship Marketing

The selling process is really the beginning of a relationship. In fact, your relationship with a sales prospect, who is now your customer, should continue to grow.

Relationship Marketing can also help uncover sales prospect. You don’t need to wait for sales prospect to appear before starting relationship marketing. For example, if you are a Property Agent, join some community or religious organization, or some business networking organization, and volunteer for some appointment. You can volunteer to be a transport co-ordinator, for example, in a Church outing/camp, and get to know more people intimately. Start the Sales Process when you feel comfortable with the friends you made.

If you are a Tuition Teacher, you can organize free short-term tuition classes in some Church or Community organization to draw out the potential students. Once you gotten the names of all students, you then offer them full-time tuition classes.

How about Insurance Agents (Financial Planners)? You can seek maximum exposure for yourself, by planting yourself at the welcoming committee of a religious organization. In this way, you get to know most visitors and newcomers. The Sales Process can begin later when you feel comfortable with them. Alternatively, volunteer yourself for some leadership appointment, or acting role in a musical. You get maximum exposure from these activities, and people will know you. You are on the way to relationship marketing.

Investment or relationship managers can also solicit their business this way. You can even volunteer to manage the Organization’s funds. Any successful Sales Professional will tell you that business will not come your way till you asked for it. So do not be shy, plan it, make friends, and then ask for their business. You are on the way to relationship marketing.

It is far less expensive to cultivate your existing customer base and sell more services to them than it is to seek new, single-transaction customers. Focusing on customer needs, through what is called relationship marketing, is a proven method for repeat sales and a positive business image. You will still need to seek new customers, of course, but don't overlook the untapped potential of your existing ones.

Relationship marketing also increases the return on your sales investment. When you sell an additional product to an existing customer, you don't have to repeat preliminary steps such as prospecting, rapport-building and information gathering because you're working upon a foundation that's already been laid. So, repeat sales are less expensive to obtain than new sales.

Relationship marketing consists of:

·         Listening to Customers
They'll tell you what they need from you if you make it clear that you are paying attention to what they are saying.

·         Asking Questions about Their Problems and Needs
If  they don't  volunteer  information, ask questions. Then, focus on solving problems or meeting needs rather than selling them another product. They will  appreciate your  interest  and you  will, most  likely, make a sale in the long  run.  And, even if you  don't  make an additional sale, customers may refer you to  someone else based on the excellent service you've provided them.

·         Being honest
Don't try to sell  something that's not needed. Likewise, if you can't fulfill particular customer needs, tell  them, and try to help them find  someone who will. Your helpfulness will be long remembered and those customers are more likely to come back to you when they need your type of product or service again.

·         Keeping in Touch
Mail your customers:

• Thank you notes for orders, referrals or continued business.
• Short notes about positive meetings or phone calls.
• A newspaper or magazine article about a customer's business.
• Articles or information about a customer's competition.
• An announcement of your new product or service.
• A notice of a special sale or offer. Include coupons for customer discounts or invite customers to special pre-sale days.
• A newsletter from your company, including beneficial tips and information for your customers.
• A lead for their business.
• A notice of a meeting or seminar of interest.
• A reminder of a pending order or reorder.

In your correspondence, be brief and to the point. Try to make the note personal and handwritten, if possible. And, make certain you use good English and spelling.

Closing the Sale

Many Sales Professionals do well in the first four steps of the Sales Process. But when it comes to the fifth step (Closing the Sale), they hesitate. They fear asking for the Order. They wait for the prospect to say “I’ll buy from you. Here’s the purchase order.” But this will never happen.

If you are a professional Sales Person, you should not be shy to ask for their business. Although you should never be shy about asking for business, prospects will probably give you some signals when they are ready to become customers. Here are some signals that suggest they are ready to buy:

·         Asking about availability or delivery time

·         Asking specific questions about rates, prices or affordability

·         Asking about features, options, quality, guarantees or warranties

·         Asking positive questions about your business

·         Asking to see the regulatory or classification society certificates

·         Asking for something to be repeated 

·         Making statements about problems with previous vendors; they may be seeking reassurance from you that you won't pose the same problems

·         Asking about follow-up service or other products you carry

·         Requesting a sample or asking you to repeat a demonstration for them or for others in their company or family

·         Requesting to visit you office premise or factory and warehouse

·         Asking about other satisfied customers. You should have a list of satisfied customers ready to give to prospects who ask. (Make sure you've already contacted these customers about serving as references)

These are some techniques that often help prospects make the decision to buy.

·         Quit talking after you ask a closing question. Give prospects the opportunity to say yes.

·         Offer an added service, such as delivery, or commissioning.

·         Offer a choice, such as "would you prefer the blue one or silver one?"

·         Offer an incentive such as a 10 percent discount for purchases made now.

·         Lead the customer through a series of minor decisions about such factors as their preferred color or model or feature that are easier to make and that lead to make the bigger decision to actually purchase.

·         Don't give up too soon. Learn to understand prospects' buying styles; some people take longer than others to make a decision.

So what’s next after you have made the sale? This is the crucial last step of the Sales Process. Whether you can secure a long-term business from your client depends on how you treat your prospect after the award of the contract. Stay tuned for the next blog post.