Building Long-term Business Based on Relationships

Why Does an Organization Need to Network?

Every sale is based on a trust-based relationship between the seller and the buyer. People ONLY buy from people and companies that they TRUST.

The only exception to that rule is when a buyer can get the seller to give a really low price, so the buyer’s risk is reduced enough that if the product or service doesn’t work, it’s not a big issue.

The Seller’s goal is to sell at a profitable price, the Buyer’s goal is to buy only what they think is the best value. Even if a buyer only makes one purchase, ever, getting that sale requires a trust-based relationship.

Building a Relationship

Networking to build the perception of trustworthiness is the first step in building trust. The process is “Know, Like, Trust.”

Buyers ideally want to know what the selling organization is all about.

1. Does the organization have the right values?
2. Do their people act in a way that shows they value customers? (Are they knowledgeable, timely and capable of answering all the buyer’s questions?)
3. Do they have a good reputation? (Reviews and ratings are CRITICAL.)

Businesses or consumer purchase products or services based on the belief that what they purchase will deliver the promised performance and is worth at least as much as the price

1. The sale begins when a buyer is attracted by the “promises” a seller offers.
2. The critical issue for a sale to be made is based on the buyer believing that the seller’s promise can be trusted
3. IF the buyer trusts that the seller can and will fulfill all their promises, the sale is made

Gaining Trust

Being considered trustworthy is the reason for networking and gaining solid relationships with prospects and maintaining them to KEEP doing business with customers,

Trust rarely happens instantly. It is virtually always built over time through a series of interactions between sellers and customers. It isn’t some magic twinkly dust transferred from corporation to corporation via software or advertising.

It is created by all of the interactions and conversations that individual people from your company have with specific stakeholders within a given customer’s company. Those interactions and conversations include websites, social media and MORE,

In fact, a “B2B sale” is really the sum of a successful series of interactions and conversations between people.

When enough trust is gained, a solid relationship is created. When that focus is lacking, the only alternative available is “Lowest Possible Price.” Taking that route means you might get a sale, but forever afterward you will have to justify your existence on PRICE and you will STILL get shopped.

What most organizations fail to understand is how complex a task it is to consistently have ALL their people must consistently reinforce trust. It starts with an internal TRUST relationship.

EVERYONE in the organization needs to understand their role in maintaining trust. No fancy “communications strategy” will overcome the lack of a clear set of expectations set and monitored with everyone in the selling organization.

To quote an old saying – “it’s simple, but it ain’t easy.” Your people have to engage with customer staffers on a regular basis. Your whole organization has to be built to create and support a multilevel personal relationship with them.

If that’s “too expensive” for them to do – maybe you ought to look at what you’re selling and to whom. NOTHING is “too expensive” if you have a strong enough Perceived Value – customers will pay more for your products and services IF you have created the proper Social Capital.

Before you say “That can’t work,” consider this –

Have you heard this remark before? “Oh, we might be able to save a few bucks shopping them, but it isn’t worth it – they do such a great job and never screw up, it would end up costing more than it would ever be worth.”

That’s TRUST – when the trust level is so high “it isn’t worth shopping them just to save a few bucks.” When people know, like and trust other people, you have a solid, long-term – and PROFITABLE – relationship.