All successful businesses and brands regardless of what they do have one thing in common; they know how to build and maintain relationships. Business leaders too often get caught up in the day to day running of their companies ignoring how critical it is to build relationships not just with your customers, but also with vendors, employees, and other brands.
As a business owner, you need to establish two-way relationships that will carry you through difficult and tight deadlines. Also important are relationships with other businesses either within your industry or outside of your industry to share struggles, resources, and best practices. Just like any other relationship, business relationships are critical too. They require effort to maintain and they must be mutually beneficial. You must be willing to give, share and support, and not be at the receiving end all the time.
For businesses, building relationship is essential for long-term growth, profitability, and sustainability. And to build relationships with customers, employees, vendors, and investors good communication is key.
So here are 5 ways on how to build beneficial relationships to improve your business partnerships.
- Maintain Honesty– Honesty in business relationships is perhaps the most important principle you can have. If you stay honest with your communications and dealings, you’ll earn trust more often than through any other factor. Clients, vendors, and employees will be able to tell if you’re attempting to twist the truth. They may not know what the truth is, but it’s fairly easy to tell when someone is beating around the bush. Be honest and direct. People will appreciate your honesty even in difficult situations and possibly throw their support behind you.
- Sustain great customer service – The number one reason for the loss of customers is dissatisfaction with customer service. Do everything in your power to offer excellent service to your customers on an ongoing basis. Respond quickly and enthusiastically.Do not take any feedback however positive or negative for granted. It’s important to note that companies that have invested in delivering excellentcustomer experience are outperforming their competition. Customer satisfaction is a key differentiator in building relationships.
- Routinely Reach Out to Important Contacts – It is impossible to have weekly or monthly engagements with your client Categorize your clients and identify how best to engage them more frequently.
- Offer Help Before You Ask for Help – Building business relationships doesn’t mean tapping into your resources whenever you need something. If the only time you ever contact a client or an employee, or vendor is when you need something, your gesture won’t seem authentic. Spend time to figure out how you can help your business contacts.
- Gratitude– Gratitude will take you far. Always say “thank you” and show appreciation to any person who plays a role in sustaining your business. Kindness and gratitude to a customer is an undeniable way to further enchant them for the long term. It will be good to send thank you messages to new clients, thanking them for their custom. Never stop saying thank you enough to clients, employees, and even vendors too.
What other ways can one establish relationship in business? Kindly share them in the comment section below.