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Enterprise

Relationships are a crucial pillar of business success

business success
Relationship are costly and requires you to be ready to give more than you receive. FILE PHOTO | NMG 

Human relationship is one of the greatest determiners of business success. In this age of technology, it is possible to ignore this crucial success factor. You can use technology to source and service customers, to communicate with employees and other stakeholders but that does not dwarf the crucial role of human interactions.

Various studies have shown that individual sales people and companies that incorporate the aspect of building relationships in their dealings tend to be more successful than the ones that does not.

Sales people and enterprises that are more interested in having people choose their products and not knowing how the customers like their products or simply what happens after the purchase are always struggling to win new clients because retention rate is very low. Customers always want to do business with people they know, can trust and relate well with.

The first step of building a meaningful relationship is to prove that you have the best interest of the other person in your dealing. Let the customer or employee know that you are more concerned with giving them the best and not their money. Monetary gain should come last after they are satisfied.

A good sales person always visits or follows up with the client to know how they liked their products or are doing after the purchase and if there are areas that need improvement for the goodness of the customer.

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Customer and staff retention are two things that catapult any business to tremendous growth. It is estimated that a customer retention of 5 percent is enough to increase an enterprise’s profitability by 25 percent.

On the other hand, a healthy relationship between you and your employees and among your employees themselves enables you to form a formidable team that is committed to the company cause. It brings life and synergy in your workplace.

The foundation of a health relationship with employees is to treat them with respect, keep them informed and appreciate their contribution to the overall success.

When you have a good relationship with your employees it is easy but not automaticy to have a good relationship with customers.

A good relationship with customers is consciously built by genuinely getting concerned and desirous to learn more about the customers themselves and their needs. It demands you make a conscious effort to regularly visit customers or keep in touch after they have bought your products and establish their level of satisfaction or frustration and act upon all concerns.

Relationship are costly and requires you to be ready to give more than you receive. You don’t treat customers with respect commensurate with the size of orders they give you or you expect in the short term.

To be able to develop and nurture relationships, you must be willing to help others. Ensure your employee and customers grow or get what they desire first with no strings attached.

Once you help them they will definitely pay back by being loyal to you and that is the time you start reaping the benefits of your selfless investment.

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