The rapid advancements in technology has triggered a change in the world and has transformed passive consumers into active participants. Gone are the days when businesses could produce products and just push them down the pipeline to passive consumers. These days, it is the customers who are in charge and ideas flow from them to the producers. Considering this, these days only those businesses succeed that not just actively listen to their customers, but also engage with them on a frequent basis. You need to obtain customer feedback and implement it for designing future products.
Thus, corporate relationship management, which basically involves the relationship of businesses with their customers, is of the utmost importance. How can you manage your relationship with corporate clients? Listed below are the top tips that can help:
1. Build Trust
Your relationship with your customers is just like every other relationship; it is based on trust. These days, consumers are more informed and skeptical and you need to build trust between your existing and potential clients. This includes showing them that you are aware of the challenges they face and how your product or service can help them in dealing with their problems. You need to be honest in order to build your credibility and get your clients to trust you and open up to you.
2. Become the go to person
You want to be the person that your customers come to first when they have a question or problem regarding your industry. You have to stay informed about what is important to your clients and stay updated so you can help them out when necessary. You have to be on your customer’s team in order to get them to support yours.
3. Learn to stay in contact
A large number of relationship managers don’t contact the clients regularly because they believe they will annoy them. This is indeed a valid concern, but it only happens in the case when you make a sales pitch every time your customer comes into contact with you. Avoid being a nuisance when you get in touch with your customers. You can send corporate gifts to existing and potential associates from time to time to remind them of the business and what it can offer. This will ensure you are right in front of them and make them come to you.
4. Provide answers and results rather than solutions
Customers cringe every time salespeople offer them ‘solutions’ to their problems. Really, there is no magic solution for absolutely any problem. There should be answers and results and this is something you need to teach your sales team.
5. Listen to your clients
Another common mistake of businesses is that they are too focused on pushing their products at customers instead of listening to their problems. You have to make the effort of understanding the challenges, pains and goals your clients have to deal with so you can align the products or services you offer in a way that can resolve their issues effectively.
6. Don’t participate in price wars
This can lead to a disaster because it is a no-win situation. There is always going to be a competitor who is willing to go lower than you in terms of price. Moreover, it can also send the wrong message about the quality of your product and that is not something you want. If your customers want a discount, you can try reducing the services provided or give them a product that has less features. When you are taking away the price, you should also take away the offering and this is something your customers will agree with.
7. Highlight how you are different
This is a difficult question to answer and one that most businesses are unable to do, which can drive customers away. It is highly unlikely that you are the sole manufacturer or provider of a product or service. There is probably tough competition in the market and you need to highlight how yours are different from them. This can be done when you have some knowledge about your rival’s offerings and you can figure out how to show yours are unique.
8. Use social media to interact
The power of social media is growing day by day and businesses need to make use of it to reach out to their customers and strengthen their relationship. Social media networks are an excellent platform for businesses to learn about the thoughts and needs of their target audience and they can also obtain feedback in a personal way. This can lead to long-term relationships of mutual trust and respect. Also, businesses should not delete any negative comments and instead try to placate the clients in the open to show that they care.
Following these tips can go a long way in effective corporate relationship management.