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The ROI is Always in the Relationship!

Tag Archives: ROI


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Rome Wasn’t Built in a Day!

We live in a world of instant gratification and immediate returns, however, relationships take patience.

Great relationship marketers recognize that a foundation has to be built with a prospective client or referral partner before they see any significant ROI.

I was prompted to write this blog because I had a colleague I network with admit that he wasn’t in a position to give anymore until he started receiving.

I bit my tongue and listened to his position. Theoretically he’s a brilliant business person however I know that this attitude will be his Achilles heel. Yes, he’ll continue to be successful but he will also repel a lot of partners and business along the way with this self-serving attitude. His return will come, it will just be slower and involve a lot more work!

On the other hand, I have a great partnership with an incredible woman who gives like nobody’s business! She never asks what I can do for her, how I will repay her, how quickly reciprocating referrals will come in. She operates with a truly giving attitude and genuine desire to partner people together and help them without expectation.

SHE will absolutely grow her business faster and more profitably than the other guy. Her selflessness and willingness to serve first will be the very foundation of her success!

Rome wasn’t built in a day and neither is trust in most cases. Invest in your business relationships with a giving attitude and you will see a prosperous ROI!

 

 


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Follow up Matters

 

Keeping your word and following up when you say you will, builds your credibility as a professional.

Great relationship marketers make notes and have electronic reminders to ensure they give the people they serve the best possible care possible.  This means making notes at a tradeshow and then sending yourself a reminder to follow up. It means blocking time off the day you return from an event and make the day dedicated to phone calls, personal notes or proposals.

By pre-planning brochures or media kits to send a client you have promised builds a sense of comfort with your prospect.  I can’t tell you how many shows I’ve attended and the exhibitor promised a follow up and never followed through.  Immediately my view of this individual changes and it affects our future dealings.

If on the other hand I meet with someone at a networking function, tradeshow or business meeting and they promise to follow up with specific information and actually do, this puts a deposit in the relationship bank.  I view this person as a professional and accountable business partner. Great relationship marketers call when they say they will, arrive on time for meetings and follow up promptly.

Great follow up isn’t limited to the first contact after meeting someone.  Relationships are built on consistency which breeds familiarity and comfort thus developing a trustworthy bond.

It’s important to follow up with prospects, and more importantly – existing clients.  Many people forget about existing clients once the sale is made.

Here are 4 great ways you can stay in touch with clients so that they know you care about their wellbeing and success well after the transaction.

1. Personal call – follow up one month or six months down the road to ensure that your client is experiencing the benefits you promised. Without this call you may never hear about any challenges the client is having which may result in a lost relationship in the future.

2. Personal note – send a past patronage card to thank them for their previous business. Imagine your car salesman sent you a note one year in to your purchase thanking you for your business! How would you feel about this person? Would you be more likely to tell others about his or her professionalism?  This is a great way to position yourself during a time when your services are not top-of-mind with your clients.  You remain on their radar so when a friend or family member mentions the need for a new vehicle they immediately think of you.

3. Unsolicited proposal – see a new product or opportunity that your client might benefit from? Perhaps there’s a special on an existing product or service that they’ve used in the past, send them the information so they know you’re thinking of them. Your clients will appreciate that you went out of your way to inform them.

4. Article of Interest – send an electronic or physical copy of an article you find that may benefit or interest your client, member or donor.  Did they mention that they are gluten free? Perhaps send them a link to a recipe for gluten-free cupcakes.  I had lunch with a financial advisor once who did this and I was floored.  Clearly she paid attention to my menu selection and then followed up by email with a website link!  I was impressed and did it cost her anything to do? No.  Did it make a lasting impression? Absolutely!

 

Follow up can be done in many different ways.  The key is to do so when you promise that you will and then surprise clients, members and donors with unexpected acts of thoughtfulness to enhance the relationship.


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Complacency- The ROI Killer

 

You may have heard the statistics before but they’re worth mentioning again.  When a client stops working with an organization there are a few factors involved, perhaps a geographic move, a death or they no longer have a need for the service.  However a staggering 68% of customers will leave an organization to go work with, or purchase from, another company because of perceived indifference on the vendor’s part! Even if the original company provided an excellent service at the time, great product and pricing the client will leave if they feel the supplier is unappreciative of their patronage. That’s a compelling reason to stay in constant contact with your clients!

Here are 6 easy ways to stay connected with your clients…

1. Handwritten note – send clients a personal note thanking them for their past business.  Remind them that you’re there as a resource to provide new ideas or answer any questions they have about trends in your market.

2. Personal call – phone your clients, check in and make sure that they know you’re available to them.  Let them know you want to make sure you’re being proactive about their account.  This is not a sales call, this is a call conduct a temperature check on the service you’re providing and thank them for their business.

3. Stop by – if you’re in the area, stop by your client’s office.  Drop off a promotional piece discreetly branded with your company name and information.  Thank them once again for their loyalty to your organization and remind them that you’re there to help in any way you can. Your useful gift will serve as a goodwill piece as well as generate residual marketing exposure in your client’s workspace or home.

4. Network – connect existing clients to other clients that may have the potential for a strategic partnership.  Introduce your contacts to one another.  Remember, looking for ways to help your clients reach their goals is a surefire way to solidify your relationship and communicate that you care about them as a person in addition to the business they bring to your organization.

5. Unsolicited proposals – if you come across a special offer or important market update that will benefit your client, be sure to be proactive with proposals.  If you’re selling a product, have they purchased something in the past that is currently on special? Reach out and let them know you came across an offer that they may want to take advantage of.  If you’re in the service business, perhaps a mortgage broker and interests rates have lowered and your client can take advantage of some significant savings, be proactive and send an unsolicited offer.

6. Lunches –schedule a lunch with your clients.  Now is the time to listen to what’s happening in their world.  It’s not time to pitch a new idea or ask for a sale.  Lunches are a wonderful way to reconnect and hear about your client’s goals, dreams, aspirations and challenges.  Naturally you’ll discuss business matters but keep lunches light and focused on getting to know your client.  Thank them once again for the business and remind them that you’re always around if they have any questions or concerns about the company.

Remember, complacency is a silent killer! Many people who feel you’re indifferent to their business will simply leave and go elsewhere.  Be sure to take action with one or a combination of these strategies to further increase loyalty and ultimately the bottom-line.


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Another Slice of Humble Pie

I have to share a client success story with you! As you know, I’m a big believer in personal notes and one of the unconventional times I encourage clients to send notes is when they DON’T get the business.
In …this case, the gentleman I was working with took my advice and won a handsome commission as a result!
Someone came in to purchase a vehicle from his dealership. The family ended up purchasing their car elsewhere, another brand actually. I encouraged him to follow up with a note to thank them for their time and remind them that he was there as a resource for their friends and family in the future.
The recipient was so impressed by my client’s humility as well as personal care that they immediately referred him to a friend looking to purchase a vehicle.
A week after the card had been sent; the referred prospect walked in and purchased a vehicle because this salesman left such an impression!
pie
I’m confident his story is shared at dinner parties within this circle of friends, wonderful impression made and another slice of humble piece that leaves a great taste in everyone’s mouth!