When it comes to increasing profits, it’s tempting to concentrate on making new sales or finding a bigger account. But attention to your current customers, no matter how small, is very important to keep your business growing. The secret to repeating business is to follow up in a way that has a positive effect on the buyer. Thus, customer relationships will be key in any company’s strategy.
Effective tracking starts immediately after the sale. All when you call customers to say “Thank you” and find out if they are satisfied with your product or service. In addition, there are several effective ways of monitoring that ensure your business is always in the mind of the client.
How do you add value in customer relationships?
Sellers often think that the key to having happy customers is price. You know? They are often wrong, because what they really need to overcome is value in the eyes of the customer. Value and price are not the same, but sellers often let customers think they are the same. When price is the only thing that is the focus of the customer, we, as sellers, lose.
Value is far more than the price. This is the profit that the client receives from what we offer.
Do you want to show value to your clients? Here are some ways you can do that:
1. Think about the results! Customer results
A good relationship with customers is to focus on how they will benefit from what you offer. Show them the results and what they mean in terms of return on investment. This step must start with an initial sales call and continue throughout the sales process. In fact, it must be extended throughout your relationship with customers. Keep in mind that customers don’t buy anything. They only invest.
2. Monitor every telephone call, consultation, and contact customers make with you and your company
If you don’t track your meetings with customers, you will likely lose additional opportunities to show their value. If the client occasionally asks for advice or information, or if you actively contact clients, you must register each of these meetings. If you are leading a large enough organization, you might need to create a special roster template based on customer data and for that you need an e-rostering system.
3. Show the customer best practices that you have seen used by other customers
To have a good relationship with customers, you must educate each time you are with them. Use the information you have to develop new relationships. Become a diligent student of “best practices” in the industry and record in dollars the value you have for customers.
4. Compare your purchases with other similar customers
Keep notes and monitor trends, and then find ways to share this information with your customers. This not only shows that you are worried about your business. But you also allow yourself to have conversations with clients who might not have started themselves. As expected, when you are proactive in this conversation, you often find yourself with new opportunities to help clients. In addition, your benchmarks will allow you to create a “savings spreadsheet” that shows how much you have spent compared to other similar companies.
5. Provide continuous educational sessions for the client
A client may doubt that initially you provide additional education, but this is key to establishing value. The cost of the educational session for you is minimal. But as with the other elements listed above, the value the customer receives can be enormous. Record each session and the value in terms of what the client receives from the program.
The value is in the eyes of the customer. The client does not always look in the right direction, so it is our job to help them see the full picture. As important as it is to use these 5 methods with existing customers, they can be just as valuable with prospects. The above techniques can often be exactly what you need to help a prospect accept that the low price should never be the only criteria to buy.