IT'S ALL ABOUT RELATIONSHIPS!!!

Jan 22

IT'S ALL ABOUT RELATIONSHIPS!!!

Remember the saying, "It's the economy, stupid!" Well, in these days of economic turmoil, many people are complaining and as a result, either doing the wrong things for their businesses or worse, nothing.

Let's get back to basics. What is it that drives business? An exchange of goods or services for either cash or another set of goods or services. How does the exchange happen? It is called SALES! So, first thing to remember is:

If you are in business for yourself, you are a salesperson.

If you attend a seminar or a leads group and the speaker asks who in the room is in sales, every hand should go up. If a hand doesn't go up, that person doesn't understand business.

So how do you sell? There are a variety of techniques. The first thing you need to do is get the attention of your customer. How? It depends on the goods or services. A good marketing firm, like ITMCI Business Solutions, can help a business determine what is right for its goods and services. Is that all that you need to make a sale? Again, it depends. IF you are an Internet E-Commerce based business, and somebody goes to your website, sees what they want, like the price and can order on-line, then you have accomplished a sale. If however, you are providing a good or service which requires human interaction, you may have a bit more work.

Why does a person buy from you instead of somebody else? Sometimes, it will be price. If you are dealing with the EXACT same product, and somebody else is selling it for less, you will probably lose the sale. Does this mean you should cut your prices and start a price war? NO! What it means is that there are certain realities. Walmart will almost always be cheaper than you. They buy in volume and can keep their prices low. If you try to compete on price, you will price yourself out of business!

There is another way to compete. Build a RELATIONSHIP with your customers. When they walk into your store or office, make sure you or someone will greet them by name. If it is a new person, have someone engage them. Get to know them. Listen to their story. After that person has gone, make notes. Follow up! Make sure to send a thank you for the business. Or send a little thank you promotion. Don't forget them. Send them a little memory jogger every month. It could be a special offer just for VIP customers, or maybe a picture of the office or store with your staff waving.

Relationships are the key to long term customers.

It will cost a lot less to maintain a current customer than to find a new one. Relationships start from the moment you put your business into the public eye. First impressions, relationship cultivation and management, and of course, quality, consistent products and services are the keys.

- Steve

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