The X Factor – Building Your Business Relationships
The “X” factor. It can instantly send a surge of sales your way. Of course, failing to do it the right way can crush your business just as fast.
So, what is it? And how can you make sure you’re doing it correctly?
The “X” factor is the relationship you build with customers, workers, and partners. Basically, it’s what determines whether somebody is motivated to work with your business and help it grow… or could care less about your business and possibly even want to damage it.
You see, with good relationships comes trust… where you can easily answer the question of why somebody should be willing to work with you to build your business.
Successful joint ventures, loyal customers, enthusiastic workers, and partners who are determined to help you succeed. That is what good relationships mean to your business.
On the other side, failing to build successful relationships can result in damage to your name. People are less likely to have faith in your product or service.
They also don’t trust your word (the one thing you’ve always got even if you lost everything you own and worked for). Lacking trust in your word equates to one thing:
Customers are less likely to believe that you have something valuable to offer… and the people you work with could care less about your business.
Although you may not see the damage this does to your business in an obvious way, it will KILL your business slowly and painfully. Little by little with…
Customers speaking poorly about your business.
Workers apathetic to doing their job right.
Less people who are willing to partner with you.
Fewer people who will want to endorse and promote your products.
What’s more… people you don’t have a relationship with are less likely to look at your product or service in a positive light. They are skeptical, as compared to someone you’ve built a successful relationship with.
If somebody has done business with you, trusts and appreciates you, then they are much more likely to see your product or service in a positive light (dramatically increasing your sales).
And with enough previous – and therefore repeat – customers, your competition just can’t compete. Enough said? Then let’s get started with…
The 10 Truths To Profitable Relationships
1. The “I like this guy, he’s just like me” principle.
People like anyone who is like them. Have you ever felt an instant rapport with someone when you found out they went to the same high school or college as you? What if you’ve traveled somewhere and found someone from the same city as you?
When people see you as someone just like themselves, they instantly have a higher degree of trust for you. After all, wouldn’t you trust yourself? The more you’re just like your prospects or customers, the more they will instantly trust you.
2. Keep your word.
This may sound obvious too some, but there is much more to it. Often, there are circumstances that arise where you are let off the hook. You don’t have to do what you said you would. People forget, circumstances change. A new excuse may come up where you feel like you can’t keep your word.
But here’s a sparingly used strategy to win you friends and gain profitable, long lasting relationships. Keep your word no matter what… and when you can’t, find another solution to make sure the other person is more than happy.
Just imagine how good you would feel if… you did some work, all was forgotten about it, and then a few months later you get a check in the mail.
Would you feel like the person who sent you the check is an honest and trustworthy person? You bet. They kept their word even though you forget they had to.
Other areas in your business where you want to make sure you keep your word or else face the wrath of bad blood against your business include such things as:
1 Paying referral commissions or affiliate marketer’s checks on time (even doing this earlier than expected is a good idea to make a positive impression).
2 Put a serious effort in to finish joint projects when agreed.
3 Having your full effort put into work that‘s agreed upon.
4 Keeping dates you set under most circumstances.
If you have trouble meeting things you’ve said or agreed to, then you need to set your standards lower so you don’t disappoint someone else’s expectations. Your goal is to exceed what is expected. In other words, over-deliver.
The reward? A loyal following of hard-working people that surround your business… because you have taught them you deliver more than what you promise.
And that alone is an extremely powerful motivation for someone to want to work with you. As opposed to your competition, who has much less to offer.
3. Give great customer service.
Let your customers know you offer superior service. Then, let your work speak for itself. When you offer great service, you don’t need to yell about it. It turns your customers off when they keep getting told what a great service they’re getting.
If you provide a good a product or service, it will speak for itself. Your customers will detect when you are working hard to serve them and when you are not. So don’t overdo it by yelling what a great job you do.
Naturally, it’s good to remind them of what they get by doing business with you, but it should not come at the expense of providing a great product. It’s a bit like “walking the talk, but not walking the walk.” You should be able to do both.
4. Show your appreciation.
When you have success in your business, always show your “thanks” to the people who got you there. From customers to partners… to other workers who made it happen. You can do this by:
Offering bonus gifts to customers. Whether it’s a special report or a discount on their next purchase. You can make money and create goodwill with this appreciation technique.
Give an incentive reward to sales people or affiliate marketers to thank them for their achievements and to keep it going.
Or just give your appreciation with a “Thank You” celebration.
The little effort you give to show your appreciation will go a long way in building trust and help keep your successful efforts going. It cannot be over-emphasized in importance.
5. Motivate others to action.
To make sure everybody is getting a fair deal, the people who surround your business should be motivated. They should feel like they have something to gain by doing their job. It’s easy to do this by having strong relationships with them and making them aware of future possibilities.
6. Better educate your customers, employees, and others you deal with regarding your business so they can gain a full understanding and have fewer questions and doubt.
7. Make the people around your business aware of the future possibilities of growth and benefits to be offered.
What are your future goals? Where do you see your business going? By having a clear picture to tell your customers, employees, and partners (and what it can do for them), it allows everyone to know the benefits ahead by continuing their relationship with you.
8. Show your confidence, not your doubt.
If you have doubt about a deal, product, or other venture, then of course you need to resolve that doubt. But, even more, you should radiate your confidence. When people see your confidence, they will gain it too. Just like a smile, confidence is contagious.
Not to mention the instant amount of trust people feel when they see you know what you’re doing and aiming for.
9. Personalize your sales process.
People like dealing with other people. Even on the internet where it can be impossible to get 1-on-1 interaction, you are still able to add little touches of personalization.
In direct response sales letters, simply writing a letter to a person using their name, such as “Dear Bob,” instead of “Dear Friend” has proven to increase response by significant amounts time and time again (sometimes hundreds of percent).
Why? Well, it makes the person feel like you know ‘em. It’s like somebody coming up to you on the street trying to sell you something and they say, “Hey buddy,” as compared to “Hey Roger.”
One says, “Hey, I am stranger” and the other says, “Hey, I know you.” Personalization with names are possible on the internet in two ways:
1. First, in email. It only takes a line of code, such as <$FirstName$> for the computer to input your customer’s name into each email for you.
2. Second, you can collect the customer’s name first. Have a web page where you send visitors to that says, “Sign-Up Here To Learn About a Solution To X Problem.”
Then, on the next page, you can have a software script installed on your server (where your website is stored) that places the customers’ name on the following page you send them to.
Now, the whole sales process is personalized. So, instead of “Place Your Order Now”, you can say “Bob, Place Your Order Now!” The difference is enormous.
Although using a person’s name in your sales process is one of the bigger techniques you can use to improve response with personalization, there are other things you can do. These include…
Offer personal interaction with a live person when possible. This may just be as simple as calling the customer after an order and thanking them. You should also try to make the sales process catered to each customer’s specific needs as closely as possible.
10. Make sure questions and concerns are addressed. When someone you deal with is filled with uncertainty, they are going to be skeptical of what you have to offer. Their worries prevent them from fully having faith in what you have to offer.
With customers, you would handle this with a customer support system… where you address concerns throughout your whole sales process.
Before the customer buys, you make it clear what you are offering and how your product works. You may decide to include a FAQ section that your customers can read, as well as being upfront about what’s involved.
Next, after the sale, you need to make sure customers know how to make good use of your product or service and can get their questions and concerns answered.
Manuals, educational reports, and getting-started videos allow customers to solve problems on their own without waiting for your business to answer them.
Besides your customers, you should also have a way for others involved with your business to get their questions and concerns met. You may find the best way to do this is email, having set hours you can take phone calls, or other methods depending on your size.
Alright, now that we’ve talked about how to secure profitable relationships, let’s talk a little bit more about what you can do with them!
First, there are co-promotions with other players in your market.
A very successful method to round up a large number of potential prospects from your market place is to team up with others and create a much bigger promotion than you could have done on your own. Examples of what you can do are:
1 Have a huge contest. Tell your customers or subscribers of your newsletter about a chance to win. Also, tell them to let their friends or colleagues know about it, while you build your marketing list.
With partners’ lists, it is much easier to get the word out and greatly expand the size of your promotion.
2 Send out joint endorsements to your customer lists. If you think your partner has a good product AND your list would greatly benefit from their product, then exchange endorsements and split the sales.
You can even have this tied into an autoresponder so all new customers get the sales message.
3 Create up-sells for each other’s product. After the customer has decided to buy your product, let them know they can also get additional benefits with your partners’ product, and at a lower price than if he or she bought the product alone.
4 Partner to create a new product people on both of your customer lists want and desire… for bigger, larger profits.
5 If you’re an affiliate marketer, then you might create a new report to provide value to another person’s list of customers or subscribers. In exchange for your hard work, you put your affiliate code inside.
If in doubt of what kind of report to create, ask the list owner what they want. After providing exactly what a list owner wants and doing a good job, then you are certain to get it distributed.
It is also a good idea to provide within the report an income stream for the list owner (such as an additional product with their affiliate link or let them include any ad they want).
The bottom line is this…by having profitable relationships, making all these opportunities happen are now easier than ever before and might even come to you without any work on your part (at least, with regard to putting it all together).
Once you take advantage of partnerships, you’ll gain many other benefits as well. You can use your relationships to better work with employees and/or service providers you outsource work to.
With profitable relationships, those around you want to work harder because they know their work is going to construct a worthwhile product or provide a valuable service.
In addition, there is more you can do. When possible, you can offer partnerships in projects with people who help develop the product. Often, this can lead to improved quality, because each person knows their effort directly results in more money.
Don’t hesitate to give incentives to partners, workers, sales people, affiliates, or anybody else who helps your business grow.
Finally, there are your customers. When building profitable relationships with your customers, you are earning the most valuable thing you can get. It is not money, but TRUST.
Why is trust a lot more valuable than money? The answer is simple. Trust allows you to have a lot MORE than one successful promotion.
That’s because each time you offer them something new, your customers know you have a quality product to offer and your response will increase.
Then you can use your customer relationships to have new and exciting promotions happening all the time… resulting in a huge increase in your bank account.
Do you see how good relationships with others can pay off? Now, accomplishing more than your competition is possible with less effort, cost, and time. And the best part is, they won’t know what hit them.
The X Factor – Building Your Business Relationships – Conclusion
By reading this post, you have entered a new, exclusive club… where you now have the knowledge to outsmart your competitors and dramatically grow your business FAST. Out of millions of websites, you now have a powerful arsenal of proven tactics to dominate all your competition.
All it takes is “spying” on them, modeling their success and then simply using the strategies you’ve just learned to improve your own results.
By implementing these techniques and strategies, your business will expand its profits exponentially with MUCH less effort. It is my deepest hope that you have not only gained a lot from reading this, but you have also enjoyed it as well.