TIPS FOR ENHANCED RELATIONSHIP SELLING AND INCREASED SALES CLOSURES

BY HEIDI MCIVOR ALLEN

In times of economic uncertainty, selling has become more challenging due to tighter budgets. What used to resemble a leisurely golf game or a dinner discussion in a sales pitch now demands a more focused and efficient approach to close deals, without relying on traditional relationship-building activities. The good news is that effective relationship selling doesn’t have to come with a high price tag.

“When you change one thing, you have the ability to change EVERYTHING.”

WHAT IS RELATIONSHIP SELLING?

With relationship selling you can cultivate a profound bond with your prospects, yielding mutual benefits over time. Instead of making a sale and severing ties, you maintain ongoing communication, offering personalized guidance that contributes to enhancing their business’s financial performance. This approach allows them to gain tangible value, while you achieve and even surpass your sales targets. Relationship selling centers around being a valuable resource, with the ultimate aim of delivering value and fostering long-term customer loyalty.

BEST PRACTICES FOR RELATIONSHIP SELLING

In his book “Relationship Selling,” Jim Cathcart emphasizes, “Relationship selling is a sales approach, not just a style of relationship. Its primary aim is to provide assistance to others while also achieving profitability for yourself. When your help genuinely adds value, you rightfully earn fair compensation for your product or service.”

BUILD RAPPORT

The focus in relationship selling is placed on establishing rapport between the sales representative and the buyer, surpassing the emphasis on product features or pricing. Building rapport often involves active listening, allowing sales reps to effectively identify the prospect’s needs and cultivate a genuine connection. Their goal is to assist in addressing these needs, thereby delivering substantial value to the customer.

INCLUDE CUSTOM PERSONALIZATION

In the realm of relationship-building, in-depth personalization holds significant importance, as indicated by 71% of consumers. This personalization is a crucial factor, as when prospects perceive an experience lacking in personal touch, they may hesitate to invest in high-value products. It’s essential to make them feel like they are not merely part of a transaction, but integral to a mutually beneficial and meaningful relationship.

This is why it’s advisable to avoid transactional selling, which tends to be swift and lacks personalization, making it less favored in most B2B organizations. Transactional selling is effective for low-cost, standardized products where it’s not practical for the sales rep to invest time in understanding their buyers. Industries like clothing and automobiles often employ transactional selling.

On the contrary, relationship selling is better suited for businesses with extended sales cycles, where prospects require multiple interactions before reaching a purchase decision. While it shines in high-cost or customized solution scenarios, it’s versatile and applicable in various other situations as well.

CHECK IT OFTEN

Similar to maintaining friendships outside of the workplace, regular check-ins play a pivotal role in nurturing relationships. Keeping in touch with both prospective and past customers ensures that you remain at the forefront of their thoughts when they consider making a purchase or recommending your product.

The art of follow-up involves adjusting the frequency of your communication as needed. When reaching out to customers, it’s essential to do so in a manner that fosters a deeper relationship. Inquire about their current life events and share updates from your side. Establishing this human connection will pave the way for more effective communication in the future. For instance, your prospect may become comfortable sharing their cell number, guaranteeing that your check-ins never get lost in the depths of an email inbox again.

BE PROACTIVE

When you’re running a promotion, introducing a new product, or hosting a webinar, don’t rely solely on prospects and customers to initiate contact. Take a proactive approach by informing them about these exciting developments within your organization.

DO YOUR RESEARCH

Your customers and prospects should experience a similar sense of care and attention. Prior to a call or email, take a moment to explore their social media profiles to gather insights into their interests and preferences. I once had a salesperson who noticed my passion for watercolor painting on LinkedIn and sent me a thoughtful gift card to purchase a set online. Demonstrating this level of detail-oriented consideration can set you apart from the competition and foster genuine connections.

SIX EXAMPLES OF IMPACTFUL RELATIONSHIP SELLING

PROVIDE VALUE AND INSIGHT IN EVERY EMAIL AND PHONE CALL

To quickly build credibility and position yourself as a trusted advisor, your initial step should be to offer value and profitable insights to your prospect. This could involve providing helpful suggestions, sharing pertinent content links, making valuable introductions, or any other action that genuinely benefits them. By taking this approach, rather than immediately seeking a sale, you demonstrate your commitment to being helpful, effectively nurturing the relationship from the very beginning.

LEARN ABOUT YOUR PROSPECT’S CHALLENGES, OBJECTIVES, AND PROFESSIONAL GOALS

Once you’ve captured their attention and demonstrated your value, delve into their business challenges, goals, metrics, qualifying criteria, as well as their personal and professional aspirations. This information serves the dual purpose of answering two crucial questions:

These two inquiries form the foundation of sales qualification. Beyond ensuring that the prospect is a suitable match, it helps in gauging whether a mutually beneficial relationship can be established.

Avoid pressuring individuals who aren’t an ideal fit into making a purchase. While you might succeed in convincing them, remember that relationship selling is geared toward long-term partnerships. If customers discover they’ve been misled, they’ll likely be dissatisfied, leading to cancellations, returns, and a lack of positive reviews, referrals, upgrades, and cross-sales.

GIVE ADVICE THAT’S TAILORED TO THEIR BUSINESS OBJECTIVES

Utilize your newfound understanding of the buyer in conjunction with your subject-matter expertise to provide tailored suggestions. For example, you could impose a strategy designed to address one of their primary pain points (coincidentally aligned with your product). To reinforce your recommendations, share real-world cases of customers who faced similar situations. As an illustration, you might say,

“Customer Y, another company with around [number] of employees in [X space], was facing a similar problem. I advised them to do [such and such]. In [period of time], they saw [quantified results].”

SOLVE FOR AND EMPATHIZE WITH YOUR PROSPECT’S OBJECTIONS

Identifying and addressing your prospect’s obstacles is an essential aspect of any sales process, but relationship selling demands a tactful approach. Avoid overpowering your clients, as this can lead to resistance. Instead, allow them the time to express their concerns and exercise patience. Most importantly, respond with honesty. If they have legitimate concerns, acknowledge them rather than brushing them aside. Your transparency will provide more reassurance than a superficial response and will withstand scrutiny once they experience the product.

To uncover the buyer’s apprehensions, pose questions such as:

“Is there anything that’s preventing you from making a purchase?”

“What specific concerns do you have?”

“Are there any aspects of the product you wish were different?”

FIND A WIN-WIN SOLUTION TO THE PROSPECT’S OBJECTIONS

Many salespeople approach negotiations as a zero-sum game, where one side’s gain is perceived as the other’s loss. This mindset breaks trust and encourages your negotiation partner to adopt a self-centered stance. Moreover, if they leave the negotiation feeling exploited, it spells trouble for your long-term relationship.

The solution lies in viewing a win for your prospect as a win for you both. Together, the goal is to find the best possible outcome. To effectively address the prospect’s objections, come prepared with several concessions you’re willing to offer, such as additional implementation assistance, improved payment terms, 24/7 support availability, and more. Proactively presenting these compromises demonstrates your alignment with the prospect’s interests and increases the likelihood of them reciprocating with concessions of their own.

KEEP PROVIDING VALUE AFTER THE CLOSED-WON DEAL

Don’t let your presence fade from the customer’s life once they’ve signed the contract unless you want them to believe you’re solely interested in their financial contribution, not their success. Maintain regular contact every few months or quarterly by finding reasons to engage, such as:

Sharing relevant resources like e-books, articles, podcasts, or other content.
Inviting them to company events.
Featuring them in a LinkedIn Pulse article or blog post.
Checking in to see how they're enjoying the product and if they have any questions or concerns.
Sending congratulatory messages on recent achievements, both personal and professional.
Extending holiday greetings.

Staying on their radar nurtures the relationship and increases the likelihood of customer retention. For larger accounts with the budget, consider going the extra mile by:

Hosting them for dinner or an enjoyable outing.
Scheduling periodic account reviews (yearly, biannual, or quarterly).
Providing tickets to local performances.
Inviting them to tour your office.
Facilitating a meeting between their executives and yours.

INCORPORATE RELATIONSHIP SELLING INTO YOUR SALES PROCESS

The fundamental principle at the core of relationship selling is straightforward: Always consider the long-term impact of your actions. Here are several ways to integrate relationship selling techniques into your sales process.

BE HONEST WITH YOUR CUSTOMERS AT ALL TIMES

Honesty is essential in maintaining strong business relationships. Be sure to never deceive your customers, whether its providing false information or omitting critical details. Earning their respect involves addressing issues with sincerity before they discover them independently.

CONSISTENTLY CHECK IN WITH YOUR CONTACTS AND CUSTOMERS

Maintain a consistent presence with your clients. Engage with them on social media, send them valuable emails, and pay attention to the details of their personal lives so you can inquire about their children, hobbies, aspirations, and more.

EXCEED YOUR CONTACT'S EXPECTATIONS

To earn someone’s loyalty, go above and beyond their expectations. For instance, if you promised your contact tickets to your annual industry event, exceed those expectations by also arranging a private meet-and-greet with a speaker they admire.

FOLLOW THROUGH ON YOUR COMMITMENTS

Make it a priority to meet every deadline and commitment. For example, if you promised to send an email connecting them with your contact by Friday, don’t delay, even if you know they won’t check their inbox until Sunday. Keeping your word consistently enhances your trustworthiness.

PROVIDE EXCLUSIVE PERKS

Ensure your customers feel appreciated. Express your gratitude for their business, inquire about their happiness, offer discounts, and if feasible, send them special swag. Treating them like valued individuals will leave a positive impression.

EMBRACING RELATIONSHIP SELLING FOR SUPERIOR RESULTS

A sale is a single transaction, but a lasting relationship survives long after the initial purchase. By employing these methods, you can cultivate strong customer relationships that pave the way for future cross-selling and upselling opportunities without jeopardizing the bond. This approach can lead to increased revenue, surpassing sales quotas, and achieving recognition as a top-performing sales professional.

HOW MCIVOR MARKETING CAN HELP ENHANCE RELATIONSHIP SELLING AND INCREASE SALES CLOSURES

McIvor Marketing understands the pivotal role of relationship selling in today’s competitive landscape. Our tailored strategies and expertise empower businesses to not only make successful sales, but further foster long-lasting relationships with their customers. With our support, you can harness the power of effective relationship selling, resulting in increased sales closures, enhanced customer loyalty, and sustained business growth. Let’s embark on this journey together to unlock the full potential of your sales endeavors.

Contact us today to learn how we can help!

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