6 days ago We can all benefit from building our network, but many of us tend to focus too much on adding to our network and not enough on developing. A legend in selling, Cathcart is the author of Relationship Selling. He was “The purpose of selling is to build profitable relationships. Without. "Relationship selling refers to the sales technique that focuses on the . " Relationship selling is all about building a friendship or relationship.
A common theme arose from the comments: The best business relationships are not those who are "sold" to, but those who act as referral points or credibility references that result in sales, far beyond what these individuals could have "bought" on their own. Bob Carzoli, CEO of Program Productions, one of the largest suppliers of labor services to the broadcast television and live event industries, and a five-time Inc.
How Sales Techniques Work
One of the most important tips I can provide is to utilize your existing key contacts to develop additional ones. Don't be afraid to ask for introductions to their contacts.
Many of them can be invaluable resources for advice, strategies and other networking opportunities. I have a personal relationship with a senior manager at a major sports network.
Relationship Selling: Definition, Process & Techniques - Video & Lesson Transcript | pdl-inc.info
We've never done one inch of direct business with one another. Yet, he has referred me into his network of relationships, many of whom are now customers.
I routinely follow-up with him, either with a quick email, a ten-minute face-to-face when I am in New York or a phone call to commiserate about our favorite baseball team. He is a friend, a trusted advisor and someone I respect enormously who has THE Rolodex in the industry. Bob built sales by building a trusted, personal relationship with a recommender who has never paid him a single cent.
Relationship Selling: Definition, Process & Techniques
Imagine if Bob was entering a meeting with a potential customer he had never met before. Prev NEXT Did you know that it costs more than five times as much to get a new customer as it does to keep an existing customer? That in itself should help you understand the value of building a relationship with your customers and turning them into both repeat buyers and spokespeople for your company.
Word of mouth referrals are still one of the best ways to make new sales. If Joe tells Ed he got a great deal from Joanna at XYZ company, then Ed is more likely to go to Joanna and also buy or at least be receptive if Joanna calls him to set up an appointment. Relationship selling is all about building a friendship or relationship with your prospects and listening to their needs.
Relationship Selling | HowStuffWorks
Once you've built that relationship, shown you care, and earned their trust, you are on the road to making them a customer. Knowing their needs and finding out their secret fears for example, your client may confide to you, "If I can't make this project work within budget, my boss will probably replace me! With a relationship in place, working out details is a breeze.
Those details become obstacles if you don't have the existing relationship. As a client, some of my best experiences with sales people were with those who honestly listened to my needs, and showed an interest in more than just the business.Relationship Selling: Anatomy of a Sale
They came in with a low pressure, open, and honest approach and won my business. I didn't mind setting up appointments for their visits.