If you sell a product or service that is relatively expensive, relationship selling is essential. High average selling prices require an investment from your customer of both money and time. There is a certain level of trust needed for customers to choose to invest in you over another company or option. By prioritizing relationships and building connections with your prospects, you can build the trust needed to secure their business. Keep reading to learn how to build relationships that lead to sales.
Provide Value to Prospects
Reading your brochure, watching your webinar, or taking your call all require some investment from your prospects. Make their investment worth the time and effort by providing value right off the bat. Whether you share industry insights, relevant suggestions, or valuable content, establish yourself as a trusted resource.
Building relationships that lead to sales requires you to put their needs of your contact first. They may not be ready to jump into a contract right away. Recognize the investment you will have to make to secure their trust, time, and money. Often this involves creating valuable content that can be shared with your contacts.
Meet Prospects Where They Are
The more you know about your contact, the better you can serve them. Much of relationship selling relies on active listening. You have to understand the situation your prospect is in, what challenges they are facing, the metrics that matter most to them, and their goals. Go into each conversation with an open mind, ready to listen and free from outside distractions.
After you provide some level of value to your contact, you have to determine whether or not your product can help them. You also have to learn if they have the budget, time, and resources to purchase your product or service. Continuing with a sale when the fit is obviously wrong only makes you look pushy and unprofessional. Building a long-term relationship based on honesty and candor can benefit you in many ways, including a sale later on or positive word of mouth.
Share Custom Suggestions
Sending the same scripted email to every prospect will not help you build relationships. Instead, you must devote the time to tailoring your advice and suggestions to each individual contact. People can spot template emails from a mile away, and they will cause you to lose trust with your prospects. However, a thoughtful and custom suggestion can go a long way towards building respect. Provide reasoning for your suggestions, including relevant examples and references to the prospect’s needs to show that you are paying attention.
Face Their Objections
Products and services with a high average selling price are more likely to face objections. It is up to you to resolve each objection based on the needs and circumstances of the contact. Pushing your canned answers or repeating company jargon will only come across as steamrolling, and your contact may take their business elsewhere. Instead, practice patience and ask questions to fully understand the worries of your buyer.
This process will require more back and forth than simple transactional selling. The experience can be frustrating, especially if you feel close to a sale only to have the buyer return with more questions. Despite the challenges, answering a prospect’s objections shows that you understand their needs, value their time, and care about their business. Instead of being pushy or combative, remember that you are working with the prospect to reach a common goal. Position yourself as teammates to stay on the same page throughout the selling process.
