Customer relationships are becoming more complex all the time. Managing just one relationship requires finding the right customer, cultivating a deep understanding of their business, tracking their progress through the buying cycle, and engaging them with the right content when and how they want it. And sellers have to do that successfully across many relationships at different stages with different needs all the time. When you consider the scope of this task and the multitude of demands on a seller’s time, it’s likely your relationships aren’t as good as they could be.
Why does the state of your customer relationships matter?
Simply put, stronger customer relationships mean more sales. Employing relationship selling to drive a sale can result in 5 percent higher win rates and lead to 35 percent larger deals. Sellers who use relationship selling add value by learning about each customer’s business needs, providing personalised content and solutions, and building trust for a long-term relationship.
Sellers are more successful because they’re targeting more strategic deals and building relationships that lead to more sales. Smart relationship selling can also boost revenue by allowing sellers to find more lead pipeline and relationship selling tools help reps target the right types of accounts.
Sales teams that emphasise engagement are
more likely to hit their quotas.
Customers are in control
Customers have more data and information than ever before. Think of the specialised forums, reviews, thought leadership content, and social media recommendations available to every decision-maker, from the everyday consumer to the enterprise C-suite. In fact, some research finds that customers are 57 percent of the way through the buying process before talking to the supplier.
More than ever before, the process is about what the customer wants, not what the seller wants to sell. Sellers have to work smarter to understand their customers’ needs and desires, focusing on meaningful interaction, if they want to be successful.
The good news is that while advances in technology have changed the buying process and made sellers rethink the best methods for reaching customers, these innovations can also empower sellers to build lasting relationships and boost engagement with customers.
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