In relationship selling, you and your prospect form a deep relationship that benefits both of you in the long term. Instead of just selling the product and never contacting the customer again, you stay in touch and give them personalized recommendations that help them improve the bottom line of their business.
They are able to get value from you while you are trying to exceed your quota.
” What Cathart is saying is that relationship selling is more than just developing a good relationship with a customer – it’s a specific type of selling. The purpose of it is to help you make a profit by helping other people. :You deserve to be paid fairly for your product or service if you are really helping people.
This means that relationship selling is focused on being helpful to the customer with the goal of providing value and keeping them as a customer, which will result in revenue in the future.
In this post, we will learn about relationship selling, see some examples, and get some tips for being successful at it.
What Is Relationship Selling?
This technique is known as relationship selling, and it focuses on creating and maintaining a strong connection with the customer. This type of selling puts the customer’s needs first and strives to build a lasting relationship between the customer and the sales rep. They build trust with prospects by adding value and spending time with them, before trying to close the deal.
In relationship selling, sales representatives focus on developing relationships with buyers rather than on emphasizing the features or price of the product. Sales representatives build rapport with customers by actively listening to them in order to identify their needs and establish a relationship.
According to HubSpot Research, approximately half of sales organizations use pre-written sales enablement materials, such as email templates (53%) and call scripts (39%). If you are trying to develop a relationship with an organization, it is very important to listen to them carefully and adjust your pitch accordingly.
70% of B2B customers expect personalization that is much deeper than what is currently being offered to them, making it a very important part of developing relationships.
People are not likely to buy something that is expensive if they feel that the experience is not tailored to them. They’ll feel like they’re only a part of a business transaction and not part of a beneficial relationship to both parties.
You will want to avoid transactional selling. Since it’s generally quick and doesn’t require much personalization, cold calling has become less popular among most B2B businesses.
Transactional Selling vs. Relationship Selling
A transactional sale involves exchanging a product or service for money without a personalized experience. Selling products through relationships requires more effort and research than other methods, and often includes personalization and familiarity.
Transactional selling is an effective way to sell low-cost, commoditized products, where it would be impractical for the sales rep to invest time in getting to know their buyers. Transaction selling is common in the clothing and car industries.
Relationship selling is advantageous for businesses where there is a prolonged sales cycle, and potential customers need more contact before making a purchasing decision. This solution is best for expensive and/or customized situations, but it can be used in other scenarios as well.
Relationship Selling Examples
But it can also be used in B2C selling, and it might be just the thing to help you stand out from competitors Although relationship selling is commonly thought of as an enterprise B2B strategy, it can also be used for B2C selling. This type of selling could help you stand out from competitors. If a salesperson is working on a deal worth more than $50,000, they are likely using relationship selling techniques. For example, a salesperson selling sales automation software or a customized HR app.
But relationship selling also applies to consumer products. How well do you know your tailor? If they want to keep you as a customer, they will need to form a personal relationship with you so that you will be loyal to them because of more than just their abilities. What about your favorite hotel? Some people are very detail oriented when it comes to their guests and their preferences. This allows them to create a more personalized experience for anyone who returns.
Some businesses use relationship selling in the following ways: -Developing trust with a potential customer -Offering customer service that goes above and beyond -Creating a rapport with a customer -Building long-term relationships with customers
Enterprise SaaS Companies
HubSpot is an enterprise SaaS provider that uses relationship selling to sell its suite of products. In the first outreach email, the sales rep typically asks for a quick call, and as the nurturing process continues, they provide links to helpful materials as well as free demos.
CRM stands for customer relationship management. These companies use CRM software to keep track of their potential customers’ information. This allows sales representatives to not have to remember customer details, and the relationship can grow steadily over time.
Healthcare providers use relationship selling, albeit in a different way than B2B businesses. Your medical information can be used to tailor your treatments depending on your needs. Even if the staff changes during your visits, you will have a consistent experience.
In the business-to-consumer (B2C) space, companies such as Spotify and Amazon Prime use deep algorithmic personalization to develop relationships with users. Although you may not speak with a salesperson, the system will still analyze your habits and give you what you need in order to remain subscribed.
Another example would be Google. How many of us use Google because of how smoothly its apps and services work together? The search engine looks at your behavior to give you content and search results that are tailored to you across all of its products.
The above mentioned local businesses use relationship selling to make you a returning customer. For example, a hairstylist might remember your previous styling preferences and automatically create that style without you needing to tell them. They may remember your name and personal details about your life in order to establish a personal connection with you.
No matter the industry, the relationship selling process is generally composed of similar steps. Let’s take a look below.
What Is Social Selling?
Salespeople who use social selling find and connect with potential customers on social media, build relationships with them, and eventually convert them into leads and customers. This strategy involves salespeople using social listening to find out what their target audience is talking about online. Insights gained from social listening help them connect authentically with their audience and build relationships through conversations that matter most.
Social selling is a more natural way for companies and customers to interact, rather than the traditional transactional experience.
Prospects who are active on social media are easier for salespeople to connect with and engage. Social media also makes it easier to nurture top prospects. It allows salespeople to leverage their relationships to go beyond the internet. A good online presence can result in meeting people face-to-face and making deals.
What Are the Benefits of Social Selling?
If you are using social media to promote your business, you are already doing social selling. Here are some of the benefits of social selling: -You can connect with more potential customers than ever before. -You can build relationships with potential customers. -You can learn about potential customers’ needs and objectives. -You can stay top of mind with potential customers.
Generate leads and drive revenue
One of the main advantages of social selling is that it can help you generate leads. To generate revenue for your business, you will need to identify and connect with your target audience.
It was once difficult to find an audience and to discover opportunities for connections. Social media makes it easy to target potential customers that are most likely to buy from you. According to the Sprout Social Index, the top use case for social media data is sales strategy. This means that salespeople can use social media data to help them plan their sales strategies.
” Social media platforms are one of the main places where people share information. It’s a place where potential customers can go to discuss their concerns and needs. If you have a social media strategy that includes listening to what people are saying and personalized messaging, it can be a great tool for generating leads.
” Some ways to get to know your potential customers better are by creating personalized messages and listening to social media. Amy suggests that once you understand your customers better, you can have a conversation with them about their concerns and what problems you can help them solve.
Social selling is a great way to generate leads and increase revenue without expanding your sales team or ad budget. There are a number of social media strategies that don’t cost anything to implement and, if done correctly, can lead to an increase in sales.
Create authentic relationships with prospects
Salespeople can use social media to thoughtfully engage with potential customers and form genuine relationships. Social media is a powerful networking tool that can help salespeople connect with potential customers and build genuine relationships.
You can learn about a potential customer’s interests, personality, and problems by following them on social media and taking note of the content they post, share, and comment on. There are also people in your network that can help you meet new people and introduce you to them.
It may sound like you will be stalking someone, but you are just doing research in order to form the relationship you want. When you respond to your potential customer’s posts with your observations, suggestions, and useful links, you are strengthening the connection between you.
Don’t be the person who likes everything because we all know that person. Try to be thoughtful and authentic in your interactions in order to build relationships. This could mean interacting with the prospect in person, rather than just through a screen.
Personalize sales pitches and provide added value
As you learn more about your customers, you can identify opportunities to improve your sales process and increase your chances of making a sale. If you tailor your pitch to a prospect’s interests and needs, it might impress them and help you close the deal.
Aside from giving a sales pitch and answering questions about your brand’s products and services, there is more to nurturing prospects. To build rapport with someone, you’ll need to do more than just provide value – you’ll need to find other ways to connect with them.
Cmejla believes that the key to maintaining authentic relationships within online communities is being helpful.
He believes that everything else falls into place when you offer help.
if a prospect asks for recommendations for an upcoming vacation on social media, feel free to offer your help You give them a great tip, they have a great time, and they come back wanting to do business with you.
You may notice that a prospect is looking for a professional recommendation, such as an SEO expert. If you’ve worked with an SEO super-star, share. If you’re able to successfully match a client with a vendor that they work well with, you’ve created an opportunity for yourself.
Expand your network
Social selling is a quick, natural way to get your name and your company’s name out there. Your comments will appear on hundreds of people’s feeds. There is always a chance that a new prospect will appear even if the original one does not show interest.
If you want to win more deals, try interacting with potential customers more often using authentic and useful content. Although it may not happen immediately, taking action will get you closer to your goal quicker than doing nothing.
Build Your Credibility
Social networks can help you build your brand. When you post on social media, you have the opportunity to improve your reputation and build a good foundation. Having a blog is a way of showing that you are an expert in your field, and is a good way to show potential customers that you understand their needs.
Instead, it’s a long-term relationship-building strategy that requires authenticity and continual invested effort.” Quality social selling requires authenticity and continual effort instead of just trying to be “classy.” Being seen as a leader in a particular area by others. According to Arias, companies such as Chili Piper have gained large followings for their products by treating their brand as a person and developing connections with their target audience on a personal level through employee accounts.
One way to build trust online, according to Sullivan, is to have public conversations which highlight your distinctive take on things that you are passionate about.
He advises social sellers to try interacting with the following groups:
- Respected influencers within both your role and the niche your company serves
- Prospects at companies that would directly benefit from having access to your product
- Your co-workers! Show them, love, by engaging and commenting on their posts
You can position yourself as an authority in your field by sharing insightful articles about your industry, joining conversations and offering solutions to problems that your potential customers may have. It’s all in the name of establishing trust. If you share interesting thoughts, others will share them with you, tag you, or start a conversation with you.
LinkedIn has a publishing platform that you can use to write articles that are relevant to your industry. Neil Patel uses a variety of tactics to share his marketing expertise, one of which is creating informative blog posts.
You can increase your credibility and social proof on LinkedIn by asking for recommendations or endorsing others, which may prompt them to do the same for you. Urge the people you know to share and comment on your posts to start a discussion.
Relationship Selling is the Better Way to Sell
Even though a sale is a brief, one-time event, the relationship between a customer and business often extends far beyond it. You can use these techniques to develop relationships with your customers that will enable you to sell additional products and services in the future without jeopardizing the relationship. If you follow these steps, you will make more money, exceed your sales goals, and be considered a top performer in your sales team.
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