Are you benefiting from your circle? Someone said if your circle isn’t motivating you, you are in a cage, not a circle.
Well, I have gained a ton of value from my business relationships. Many people got referred to me from the people we network with on Facebook.
There is a cliché that says your network equals your net worth. It’s absolutely true. The amount of money you make as an entrepreneur is highly dependent on the number of people in your network.
How many people can you rely on whenever you need help online?
How many can refer leads your way because they believe in what you are offering?
All these will depend on your ability to strike good business relationships with people in your tribe. That’s exactly what I do; I try to focus more on establishing long-term relationships with people in my circle.
Having about 100 subscribers who believe and trust you is more important than having 1,000 subscribers who can’t even check out your emails.
Lasting business relationships always go for many years.
There are boundless benefits of business relationships
First, there will be an increase in the number of repeat customers. You see, repeat customers are more profitable than new ones. It’s also at least 4/6 times more expensive to acquire new customers than generate new ones.
Let’s say you have about 100 people who you are sure that they will purchase your course worth $299, that’s about $29,900 quick money?
Well, that can only come as a result of a profound business trust.
Business relationships can help direct new leads your way, help when cash flow is scarce, and ultimately help you grow your brand online.
How can you build lasting business relationships?
How can you strike a relationship with new customers, manage the relationship, and achieve the best for that relationship?
Here are some tips:
Your customers are out there on Facebook, Instagram, or Twitter. You need them more than they need you since they may already be getting the products and services you are willing to offer. So, it’s up to you to reach out to them.
Tell them why they need to abandon the products and services they are already using and begin using yours. If you are fishing for leads on Facebook, try using organic methods before going for paid ads.
Reach out to new prospects, send out a connection request, and strike a conversation with them. Don’t sell to them right away because they will not purchase. Establish a business relationship first.
Let them tell you the problems they are currently facing in their business. That’s when you can say to them that you have a product or service that can solve their problem.
After reaching out and engaging with prospects, strike a deep conversation with them. Let them know you care about your relationship with them and can offer a solution.
Long-lasting relationships are bound by trust. You develop trust when you offer help to the people in your tribe. No matter the amount of help you offer, it will always come back in ten folds.
Be active in your Facebook group, answer questions, reply to comments on your posts, start a helpful thread, and just add value to the lives of others around you.
If there is one thing I always do, it’s helping my tribe as much as I can. I often find time to log into my Wavemakers Facebook group, ask them what they are working on, the challenges they face, and try to see ways of solving those challenges.
The end result is that the tribe gives me valuable relationship connections, develops long-term trust in me and my brand, and helps me grow my business.
Improve your communication skills
You cannot establish trust if you don’t know how to communicate effectively. With proper communication skills, you can close more deals and boost customer retention rates.
You see, customers want you to listen more. They don’t want someone who talks more and listens less. If only you can listen to their problems and offer to find a suitable solution for them, then they can trust you.
But some marketers have a one-way communication with their customer base. That means they don’t listen before creating a product or service. As a result, only about 50% of businesses make it to their fifth year.
How can you improve your communication skills? Begin by practicing the art of listening. You can jot down whatever the customer is telling you. Create rapport with them and tell them of a similar story you once experienced.
Choose to remain positive all the time and give hope whenever an issue arises. During calls and team meetings, share with them the future and make them excited. The end result is they will develop trust that never fades.
Exceed their expectations
You can always choose to exceed the expectations of your customers. If you do something great for them, they will learn to trust you.
Are you running Facebook ads for them? Go past the ad creation and do some more extra work for them. It can be surpassing the number of leads he was expecting and other simple add-ons.
If you are creating a landing page for their sales funnel, choose to promote the same to your group and generate leads for your clients.
They will always appreciate the little extras you do for them. You may not see the full value, but it generates trust that takes long to be broken.
If you haven’t started cultivating healthy business relationships, begin now. There are lots of benefits to this. If you see any high-flying marketer, he or she didn’t get there by mistake. It’s a result of building healthy and profitable relationships over time.
As a result, these relationships helped spread the word to their audiences and ultimately placed them as the authority.
Want to build with a group of awesome entrepreneurs? Head over to the Wavemakers group on Facebook and say hi!