The Value of Relationship Selling
How to make your sales process less of a mechanical transaction and more of a personal interaction
In the Threads of Change podcast with Jenna Quaranta (JQ), she talked a lot about asking the hard questions in sales. She advocates for creating bonds and real relationships with customers that have depth and complexity. The goal is to go beyond simply a transaction, and to form a long-term connection that benefits both parties not just in the present, but far into the future. This type of sales has been termed “relationship selling.”
The idea is to make the sales process less of a mechanical transaction and more into something personal to potential customers or buyers. It’s a focus on interaction rather than transaction.
Listen to the full episode with JQ here.
6 Tips to Build Your Relationship Selling Strategy
One reason relationship selling works is that it can foster loyalty in a customer. Because time is spent between the customer and salesperson getting to know each other, bonds are formed and a familiarity develops. In this case, familiarity does not breed contempt; instead, it makes customers feel seen and valued.
It also helps build trust. Developing trust is especially important for high-value sales, as customers may need more time to make a decision. If a salesperson establishes that they are invested in the customer and demonstrates they will do what they say they will do, customers are more likely to trust and feel comfortable committing to high dollar sales.
To be successful at relationship selling, a salesperson needs to do a few things:
- Connect on a personal level – Get to know your customers. Not just what they’re looking to buy, but what they value, what they want, and what they’re about. Look at their social media profiles to find out about interests or commonalities. Don’t be a stalker, but look for clues, maybe pictures seen on a wall or desk during a video chat, or a passing comment about an interest during a phone conversation, that can be followed up and enlarged on to build connections.
- Be a good listener – Listening is the basis of any good sales relationship. Sometimes salespeople, particularly novices, can get caught up in their spiel, or so focused on convincing the customer to buy that they forget to listen. Talking less and listening more helps with a better understanding of the client, which means when a pitch is made, it will be tailored to that client and have a better chance of success.
- Be the expert – Customers want to know that they’re buying from someone who understands both the product they sell and the industry in which they operate. Knowing about industry trends and discussing them with customers shows you’re connected to the industry and focused on solving customer problems or challenges. Being well-versed in the unique qualities of the products being sold and able to answer customer questions quickly and competently boosts your sales pitch and increases customer confidence in the product sold.
- Add value – Having a relationship with a customer means you learn things about them beyond their sales budget. Find opportunities to let customers know you were listening during previous conversations. Maybe send an email with helpful resources that could deal with a problem a customer mentioned. Provide resources or information for free that can add value to whatever it is that’s being sold. Adding value doesn’t have to be big or flashy to make the customer feel heard and seen.
- Be honest – This seems like a no brainer, but sometimes the temptation to exaggerate features or benefits or fudge a delivery timeline is hard to resist. Always be honest with your customers and never represent yourself or your product as something you’re not. A side note: Being honest also includes letting the customer know when your product or service is not the right fit for their needs. While it is never fun to realize a prospect isn’t a good fit, it’s better than trying to shoehorn a customer into something that won’t work for them. Think about long-term relationships and not short-term gains.
- It’s a marathon, not a sprint – The goal here is to build a long-term relationship, where customers not only make one purchase, but perhaps make multiple purchases or refer other potential customers. Once the sale is completed, don’t ghost the customer. Reach out every few months just to maintain contact. Make sure when you reach out it isn’t purely about the sale. Share information you know could be useful. Comment on their social media profiles. Stay connected.
One last note to be mindful of when dealing with relationship selling is boundaries. Different customers have different levels of comfort with the depth a relationship reaches. Some may want purely a business relationship, which does not encompass any personal information. Others may be comfortable talking about their kids or their dog or the fishing trip they took last weekend.
Listen and take cues from the customer regarding what level of interaction suits them. A salesperson needs to be adaptable to the customer’s comfort level and able to find opportunities to build relationships within the boundaries that the customer sets. Be aware and respectful of company boundaries, legal boundaries and personal boundaries.