Unearthing how strong Customer relationships and business relationships are built over a period of time.
Being aware of Business Relationship Factors and constantly applying them into practice, results in building deeper connection with customers. Read through and identify strategies & exercises that will equip your team members and empower them.
Business Relationship Factors of top priority:
Commitment: A pledge to maintain and continue the relationship with the partners and clients. Adopt a long term view towards the relationship with your client. It is okay to make short-term sacrifices to realize long term benefits
Trust: Work towards building a belief in the customers mind that you are available to support them with their needs. They should feel they are in safe hands and their requirements in future also will be fulfilled.
Power: You’re ability to undertake or to get another party who will undertake an activity that the other party would not normally do. By the end of the day, get the job done for the client and prove that you can handle and deliver any complexity in your work.
Control: The hold you possess on your business, clients, activities and results. It can also be recognized as an outcome of power.
Other factors that influence customer relationships:
Balance of Power: Balance = symmetric power :: Imbalance = hierarchical;
Showcase a state of stability in front of competing forces. And, the ability to enforce your will upon the rest.
Interdependence: A mutual state of dependence between the customer and you.
Communication: A stabilized and thoughtful way of sharing meaningful and timely information between you and the customer, both formally and informally.
Co-operation: Take complementary and coordinated actions along with the customer to achieve mutual outcomes.
Individual Investments: Have clarity on the sunk costs that would not be recoverable in the event of a termination.
Conflict Resolution: To stimulate more creative and effective partnerships, work on the functionality of dispute resolution.
Similarities of Shared Belief Systems: Similarities in preferences of demographic factors or apparent personality, goals and beliefs, social closeness.
Competence and Personal Factors: Capability of front line service providers, their friendliness, same gender and physical attractiveness.
Friendliness: Approachability; easy to reach and share feeling a customer builds with you.
Vision: The customer should feel like adding value or believing in the individual’s and the organization’s cause for being in service
Value System: Ethical and moral policies that you imbibe in the organization.