One thing all business owners know but never like to talk about is: Customer acquisition is hard!
Conversion rates can be as low as 1-3%, especially if you’re coming in from the cold. Before you bid that marketing budget goodbye though, there is an effective way to combat those odds and grow your business with less spending.
And this is…drum roll…by leveraging your connections for your business!
Business connections are a treasure trove of sales opportunities if done correctly.
- B2B relationships are helpful for referrals – marketers consider referrals the 2nd highest source of quality leads.
- Nurturing your B2C connections helps you reach the pot of gold at the end of that metaphorical rainbow: repeat customers who are 60-70% likely to buy from you again.
Whether you’re a people person or not, these 4 helpful tips can help you strengthen your business relationships authentically (read: not in an icky salesy way) in no time.
1. Create consistent communication
From establishing business connections to nurturing relationships, having consistent communication is the most effective way to get anywhere. Things like email blasts and newsletters, with the former working great for one-off announcements and the latter helping keep you top-of-mind. Both are crucial to keeping that direct line with your business connections open.
When you are working away on a project you may be so wrapped up in getting things done that communication falls by the wayside. Set reminders to communicate throughout each stage of the project. This will ensure that you stay aligned with their business goals and they will ultimately be satisfied with the end result.
2. Stay away from relationships that feel transactional
The more prevalent the digital world becomes in our lives, the more people crave that human connection. While each client will ultimately contribute to your overall profit, try not to view your clients as a paycheck.
Treat them like individuals. See them as people. Take an interest in them (to an extent that is professionally appropriate, of course), and use those deep listening skills both for your clients and your business connections. Delivering a more personalized customer experience shows that you “get” your clients and position yourself more suited to fulfill their needs.
3. Always over deliver
Meeting benchmarks is great, but it’s also expected! To gain an edge over your competition and cement your place as your client’s go-to, you want to exceed expectations.
Delivering exceptional results will not only ensure that your clients continue to work with you, but because you’ve built up their confidence in your abilities and dependability, they will also be comfortable referring their friends, family or business contacts to you.
4. Build in lots of follow-ups
In line with keeping the communication lines open, follow up after your project or contract ends. Staying in touch can help to lengthen your relationship beyond the “here and now.” Beyond surface-level calls or dropping a line to say “hi” – take an extra step to make your messages work harder. Share accomplishments, new trainings, or ideas to help their business in order to reinforce your value.
Reaching more people allows you to grow your customer base, BUT the real secret to increasing your sales is tapping into your existing relationships. The more happy existing customers you have, the less time and resources you’ll have to spend to convince them to become repeat clients.
And luckily, we’ve got you covered because we’re deep in the trenches of planning an amazing relationship-building conference for next Spring! Be sure to join the waitlist to be notified when registration opens!