Why Building Relationships is Important for B2B Providers
Before the what or how, it’s important to understand the why. That starts with knowing your customers want to work with the human behind your brand.
Why is networking so important? And why does building a relationship with your connections make a difference? Some may feel resistant to increasing their networking efforts because it can take time, it’s an ongoing process, and the results are sometimes not as evident in the quarterly financial reports. However, networking is not something that’s just saved for LinkedIn. You’ll find more often than not that there are only good things to be gained from the process. Here are just some of the myriad reasons why your business will benefit from expanding its network and using it to cultivate stronger relationships. Simply stated, networking naturally makes your business more visible to potential customers, and of course, it helps in improving credibility and your online reputation,
B2B Communication is a Two-Way Conversation
Before the what or how, it’s important to understand the why. That starts with knowing your customers want to work with the human behind your brand. People like to buy from other people, not a faceless business. And if there’s a two-way relationship that can form out of the connection, that’s a win-win.
B2B buyers also tend to be risk-averse. They need to trust that they are investing in the best possible service before committing. A great way to establish trust with your leads is by establishing a personal relationship and learning exactly how you can support their needs and vice versa. A potential buyer or client will feel more comfortable working with you if they feel you have their best interests in mind. Showing your connections through genuine conversation is how you build trust in your business relationships.
Business Advice You Can Trust
No matter the business or industry, staying innovative is a must, and it’s a constant work in progress. That’s why feedback is so important. Valuable information will come from those connections you know and trust. These are the people who have become familiar with your business, its services, and products. Plus, if you’ve established a great relationship with them, you can trust that they have your best interest in mind. This is how building trust with your connections can turn into a mutually beneficial relationship.
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Generate Referrals and Word of Mouth
Networking and relationship building helps you expand your customer base. Never underestimate the value of word of mouth. You’d be surprised how many clients businesses can attract through referrals. Another person vouching for your work carries much more weight than many other methods of marketing. The more clients you establish a closer relationship with, the more your chances to spread the word increase.
Plus, the referrals you get through connections are more likely to be pre-qualified, or at least a little more warmed up than other new leads. That’s because the people recommending your business understand your work style and where your key offerings can be best utilized.
Human Interaction is Key
Again, people like to buy from people, not a business. Providing that human touch in your interactions is key for building trust and is crucial if you want to build relationships to last for the long-term. Think of “regulars” who visit a bar or restaurant often. Those customers feel they have a great relationship with the bartender/server or owner of the establishment. The staff that those regular customers interact with probably take the time to learn what their favorite items on the menu are, come up with personalized suggestions for them, and simply take the time to check-in and demonstrate they genuinely care. That can go a long way.
Relationships Cultivate Loyalty
Now that you have a new client that’s great to work with, it’s important to continue to facilitate that relationship as time goes on. While it’s important to branch out and network, don’t forget about the relationships that you currently have. Customer retention is another important staple for business success and the best way to do that is by fostering loyalty and continuing to build your relationship with them. Check in with connections or clients you haven’t heard from in a while to see how they’re doing and how your relationship can be mutually beneficial for one another. Perhaps the most important thing your business can do is make it clear to your customers that you’re not abandoning them after the sale. Loyalty is formed when clients feel like you’re there whenever they need you. Believe it or not, that’s a big factor in how they perceive the quality of your service.
New customer acquisition is important, but true business growth—especially as it relates to B2B service providers—happens when you are diligent in keeping the customers you already have.
How UpCity Can Help
At UpCity, we follow our own advice and understand that trust and transparency make a difference in fostering long-term business relationships. Our data-driven Recommendability Rating helps us identify service providers that are helpful, credible, trustworthy, and tailored to the buyers’ needs. As you strive to expand your network, we pledge to help you build credibility and recommendability that will ultimately help you grow your business.