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The three keys to building customer relations are:
Partnering For Profit
Companies lose 10-30% of their customers each year. Much of this loss can be attributed to poor service.
Companies that focus on customer retention tend to see profits grow anywhere from 25-95% annually.
Every successful enterprise must attract, serve, and win customers’ loyalty by providing profitable products and delivering excellent service.
If you don’t have a retention strategy, customer acquisition is wasteful and expensive. Over the last five years, customer acquisition costs have increased by 60%.
Ultimately, customer relationships are built on your ability to satisfy the customer’s needs.
While those needs often pose business issues, the real needs are emotional (such as a need to be reassured that your company is reliable.)
In other words, it’s how happy the customers are with their transaction and overall experience with the company.
To create real value, sales reps need to provide their customers with the knowledge or expertise to solve business problems.
Ultimately, a little less schmoozing and more relationship building through trust, listening, and value will result in a much more productive customer relationship.
What Are Customer Relationships?
Imagine a few businesses grow over time, while others have huge swings and eventually descend. What is the difference?
The polarity lies in how they focus on building customer relationships to the next scale. Strong customer relationships are much like any relationship.
You need to invest your time to build and nurture them over a period.
Seventy-nine percent of customers say that they want brands to show that they understand and care about them before buying anything.
Businesses that perceive the importance of building customer relationships develop an emotional connection and retain with them for a long time.
One of the most effective ways to nurture such relationships with the strategies mentioned above is through customer relationship management (CRM) software.
Customer relationship management is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
As a small business owner, you have an advantage in building customer rapport.
The size of your company allows you to reach people at a more personal level than big businesses, which turns into stronger relationships with customers.
It’s important not to confuse great customer rapport with building relationships.
Too much time spent building rapport (i.e., schmoozing) may backfire if the sales reps start to wear out their welcome.
While rapport is important, the building blocks for successful customer relationships are based on trust, listening, and providing value.
Customer Lifetime Value
The longer the customer retains with your business, the greater is the value provided during their lifetime relationship.
High CLV means each customer will bring in more revenue for your company. When it comes to customer success, you should spare no effort in building strong customer relationships
Satisfied customers have a healthier relationship with your business, causing them to make more (and larger) purchases in the future.
According to Forbes, costumes are willing to pay 17% more for products from companies with great service.
Trust is foundational to all relationships, including sales. The success of a business or a sales career depends on relationships selling, and customer loyalty.
In today’s competitive market, customers are tough and expensive to acquire, and they can represent tremendous value to an organization.
When your customers know they’ll have a positive experience with your business, it’s challenging for a competitor to “woo” them away.
Customer satisfaction can be the most valuable single asset that a company can acquire during its lifetime.
Research suggests five keys to building customer loyalty:
Objectivity And A Sense Of Awareness
You can’t foster good customer relationships if you don’t understand your customers and tap into their emotions and psyche.
This means looking far past simple demographic stats to your customers’ motivations – why do they need you?
Try creating detailed buyer personas that explore these intangible factors driving your customer’s needs.
Make your customers feel that you understand what they want. Know that some customers are more interested in how you build customer relationships than your products or services.
Find a way to reward your most loyal customers by showing them that they are top-of-mind.
Develop a loyalty program for your best customers and offer them gifts, samples, or points toward rewards. You can also offer them special deals, discounts, or early access to new items.
The more ways you can bring value, the more loyal customers are to your team, and the greater the sustainable growth your business can achieve over time.
As a key to any great relationship, communication is essential to building customer relationships.
Every email you send out is a chance to build a connection with a potential customer.
Yours should provide value and be personalized to the preferences of the human being on the other end and where they are in their customer journey.
You’re trying to be a part of someone’s life for the long-haul. No one wants to hear from someone they haven’t heard from in a while who is just asking for money.
Likewise, you don’t only want to reach out to your customers when you have something to sell.
Invite customer feedback to show you are listening.
Always listen carefully to comments and respond promptly, whether a compliment or a complaint. The worst thing you can do is seek feedback than not address concerns.
Even negative feedback is valuable information and can give you an honest gauge of customer satisfaction.
Understandably, the path to the personalization for some companies is challenging, and as a result, marketers have created segmentation strategies rather than building a truly personalized experience.
Customers value rapid and open communication along with a frictionless sales and returns process.
Train your team to engage in active listening, use positive language, and display empathy in all of their customer interactions.
A Positive Attitude
Your customer service agents represent your brand, so they must project a positive attitude when interacting with your prospects and customers.
They should have a naturally friendly disposition, an upbeat personality, and the ability to engage with customers personally.
Spare no effort to exceed customer service expectations. Building lasting relationships is a smart move from a marketing standpoint.
Your customers expect great products or services from you. You should continue to raise the bar on what your company offers. To put it simply, under-promise, and overdeliver.
When you impress customers, they keep coming back, becoming a repeat customer. You can deliver a product or service faster than anticipated to exceed customer expectations.
When you deliver earlier than expected, the customer will be happy about the surprise.
For example, tell a customer their order will be ready by the end of the month, knowing you will have it ready a week earlier.
Sixty-one percent of customers stop buying from a company if they have a poor customer experience. When you adopt the right techniques to build customer relationships, you deliver great experiences, bringing your customers back to you and reducing customer churn.
It also helps you to anticipate your customer needs, perform ongoing adjustment actions to improve your business and exceed their expectations.
An InContact study found that consumers were generally positive with proactive service. Real-time support is one key attribute of providing a great customer experience.
It is a win-win formula for businesses to exceed customer service expectations and create a good first impression.
Customer Service vs. Customer Relations
A successful customer relationship strategy starts with your customer support team on the front lines.
Support professionals manage the highest number of personal interactions with customers. They’re in an unparalleled position to transform the customer relationship.
A customer relations strategy is a plan to grow sales and improve customer service through processes, actions, and technology.
It typically involves the sales, marketing, and customer service functions of a business.
A strong customer relations strategy underpins sustainable growth. Once you know the facts, it’s hard not to put these relationships first every day.
Customer relations aims to create a mutually beneficial relationship with the customer that extends beyond the initial purchase.
Customer service focuses on the relationship between business and customer after the customer has made a purchase.
What Is Customer Relationship Management?
If you manage communications between potential and existing customers, then a CRM system should be your first port of call.
Customer relationship management (CRM) is a technology for managing your company’s relationships and interactions with customers and potential customers.
CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention.
Since customer loyalty and revenue are both qualities that affect a company’s revenue, CRM is a management strategy that increases profits for a business.
If you want to improve brand engagement, give reasons to your customers to emotionally connect with you.
The higher the level of customer engagement with your company and product, the higher the value your customer receives — and the better the relationship.
You have to go beyond CRM and adopt techniques to build and maintain good customer relationships.
You can sign up with Cloud Kennect and have the best tools for building customer relationships.
And when you have the right tools and customer relationship strategies, it will help solidify your relations with customers and create a strong foundation that will help you grow your business to new levels.
The 3 Keys To Build Strong Customer Relationships
Good customer relationships are when the customers have a consistent customer experience every time they interact with the business and leave them with a good impression.
Relationship selling is the core of modern selling strategies and maintaining customer satisfaction. It is the key to your long-term success.
Your ability to develop and maintain long-term customer relationships is the key to your success as a salesperson and your business success.
In many cases, the quality of your relationship with the customer is the competitive advantage that enables you to edge out other competitors who may have products and services that are similar or which are selling at lower prices.
Relationship selling requires a clear understanding of the dynamics of the selling process as your customer experiences them.
Partnering For Profit
Meaningful relationships with businesses require integrity and genuine follow-through to build real emotional connections with customers. Putting customers first pays off.
Instead of approaching your support strategy as a separate agenda, imagine it as the entry point into meaningful relationships with the people who matter most.
Only when you take every touchpoint and conversation seriously can you build value, consistency, trust, and emotional connections that last a lifetime.
Consultative selling is unique because sales reps work as advisors for customers, providing suggestions (solutions, products, etc.) for their customer’s problem(s).
In every function of the company, identify the emotional motivators and weigh how a business decision could strengthen or weaken their experience.
When companies slip up, they often build emotional connections into their marketing strategy and stop there.
Kennected's Got Your Back
Some of the simplest wisdom about customer relations is the best: Be kind. Treat everyone as a human being. Know your stuff. Stay calm.
Scratch below the surface of these simple directives, and you’ll find deeper strategies that anchor and strengthen customer relationships.
The truth is, great customer relationships aren’t built overnight, making it essential to cultivate and nurture them at every touchpoint.
When an organization is successful, it can increase sales and lead to increased loyalty and a better reputation.
Since our founding in 2018, we work 24/7 to ensure our customers are not only getting the best service, but connecting with us.
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